Broke at 50? How to Retire On-Time (Or Early!)

Episode #591 Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate: https://www.biggerpockets.com/connect... Episode Show Notes: https://www.biggerpockets.com/podcast... Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?... Grab Scott’s Book, “Set for Life”: https://store.biggerpockets.com/produ... Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch BiggerPockets Money 422 - The Late Starter’s Guide to Financial Independence (Even in Your 50s!): https://www.biggerpockets.com/article... Connect with Scott and Mindy: Scott: https://www.biggerpockets.com/users/s... Mindy: https://www.biggerpockets.com/users/m... Are you worried you won’t be able to retire at sixty-five? Feeling financially limited in your fifties and need a retirement plan so you can finally stop working? Well, we made this episode just for you. Today, we’re teaching you how to retire on time at age sixty-five (or even retire early!) if you’re starting from zero with no money to your name. We spell out exactly what we would do to go from a zero-dollar net worth to a million dollars in retirement! This is a step-by-step plan that anyone who wants to retire on time can follow. We’ll walk through two personas: Barb, a recently divorced stay-at-home mom reentering the workforce with a zero-dollar net worth. Then, we’ll touch on Sally, a six-figure income earner who also is starting from zero. Both scenarios take slightly different steps, so listen closely because your income level could completely change your money moves! Don’t give up on retirement! No matter your age, these simple steps can help get you to a financially stable (if not flourishing) position. We’ll talk about how to make more money, cut expenses, save every month, which investments you should prioritize for retirement, and what to do if you’re still in debt! 00:03 Intro 02:21 How to Start from ZERO! 06:33 Stay-at-Home Mom, No Income, Divorced 20:08 Six-Figure Income, $0 Net Worth 27:32 Investing Your Money 31:34 Paying Off Debt 36:24 Want More Retirement Strategies?