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Making Money
Is it too late to start investing? Ask Us Anything
Jun 3, 2024
Topics discussed include starting investing at 50, saving during a cost of living crisis, de-risking investments, challenges of saving in an expensive market, navigating financial challenges like childcare costs, income thresholds, and rising interest rates, and strategies for increasing wages and maintaining savings amid changing circumstances.
14:42
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Quick takeaways
- Shift mindset for long-term investing at 50, consider investing until 90, take more risks for potential returns.
- Manage rising costs by avoiding debt, negotiate for higher pay, balance cutting costs with increasing earnings.
Deep dives
Investing in Your 50s
Starting to invest in your 50s requires a shift in mindset towards a longer retirement horizon. Rather than aiming to stop working at 60 or 65, consider investing as a continual process until you're 90, extending your time frame. While traditional logic suggests de-risking your investments in your 50s, having a shorter time to retirement might require taking on more risk for potential returns over the next 10 to 15 years.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode