Saving For Retirement Later In Life

when it's too late to start saving for retirement

Last year, a survey from the non-profit Employee Benefit Research Institute showed 60 percent of working-age survey respondents reported having less than $25,000 saved.

The numbers are similar among retirees surveyed: 58 percent have less than $25,000 on hand, and 29 percent have less than $1,000 saved.

The topic of saving for retirement certainly isn’t a new one – I remember hearing about it back when I was 20 years old – and that was more than a quarter century ago (I’ll let you do the math on my age).

So I have to ask: What is the cause of so many retirement accounts being so low?

  • The stock market
  • Inflation
  • Financial Education in schools

I would say it’s a little of all of the above, but for the most part the responsibility of financial education falls on the shoulders of us – the individual.

I have to thank you for taking it upon yourselves to dial in to our show and listen to the stories of success, failure, and just plain wisdom that comes from life experiences.

Jim White Financial Wellness Coach

I’d like you to meet Coach Jim.

He is a hard worker, brilliant man, the most gentle caring person you will ever meet – yet the function and purpose of a 401(k) plan wasn’t explained to him when he went to work for a big company many years ago.

Whose fault was it that Jim and his wife didn’t understand the benefits – and proper use – of the 401k?

It was theirs.

But they also took the responsibility to solve the problem by learning how money really works, hunkering down and doing the hard work, and controlling the money from the beginning to spend.


It’s never too late to start.

If you’d like to learn about various investment options available to you as an individual, give our office a call. Allow us to look over your company’s benefits plan and teach you about the benefits of a 401k or Roth IRA or pension plan.

Visit our group, Coach Connections, and click on “Free Consultation” to be paired up with one of our expert coaches at

We offer one month private coaching plans, currently at $195, and monthly plans with additional access to our online education video series.

You have more time than you think. It’s never too late to start.

About The Author

Steve Stewart

Coach Steve has been helping everyday Americans pay attention, not interest, since 2007 after he and his wife paid off $15k in consumer debt and, using the principles he teaches, they paid off their house in 2015. You will find him using his passion and messaging gifts to create financial education content through speaking, blogging and coaching all over the United States. You can reach him by completing a contact form at