At Fiat Wealth Management, we talk a lot about building toward retirement—but what happens if you’re already in your mid-50s and not quite where you hoped to be?

More and more Americans in their 50s, sometimes called “silver squatters,” are facing a retirement savings shortfall. They’re standing at the edge of what should be a new season of life—only to realize the nest egg isn’t quite there. It’s a stressful and sobering reality, but it’s not a dead end.

Why Are So Many Near-Retirees Behind?

There’s no single reason. Instead, it’s a mix of economic forces and personal hurdles:

• Cost of living increases have outpaced many people’s savings habits.
  
  
• Market volatility has shaken confidence and shrunk some investment accounts.
  
  
• Late starts in retirement planning, often due to career changes, raising families, or unexpected life events.
  
  
• Low financial literacy, which means many simply didn’t know what was needed—or how to get there.
  
  

This growing trend underscores the importance of early and proactive retirement planning, especially for those in their 50s.

It’s Not Too Late to Catch Up

If you’re in your 50s and feel behind, here’s the good news: there’s still time. And more importantly, there are still options.

• Maximize catch-up contributions. Starting at age 50, you can contribute an extra $7,500 annually to your 401(k). That’s real money that compounds fast and helps reduce your retirement savings shortfall.
  
  
• Create a clear plan. Even if you’ve never done detailed financial planning in your 50s, working with a trusted retirement planning advisor can bring clarity, strategy, and peace of mind.
  
  
• Reduce unnecessary debt. Freeing up cash flow now gives you more power to save and invest for the future.
  
  
• Consider working longer—or differently. Extending your career, even part-time, can bridge a savings gap without derailing your lifestyle goals.
  
  

Start Where You Are, Not Where You Wish You Were

At Fiat Wealth Management, we’ve walked with plenty of clients who’ve started late but still retired well. It takes intentional planning, honest conversations, and a commitment to the next right step. The earlier you start—even in your 50s—the more options you have.

Plan your meeting today!

952.426.9116 | hello@fiatwm.com

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