Here’s what retirement planning and flying a plane have in common
Retirement planning in your 50s is like taxiing on the airport’s runway—you’re almost ready for the wheels to lift off the ground, but there’s still time before you take off.
The 50s are a great time for many individuals to catch up on their retirement goals, especially if they had a lot of distractions prior. This is the time when many people are watching their children leave home, which may give them extra money to save and invest for their own futures. They may also be hitting their peak earning years, if they haven’t already, giving them an extra boost in their 401 plans and IRAs.
“Make sure you understand where you are today and how it’s affecting your finances,” Bill said. The authors provided resources on their site, including an action checklist and sample balance sheet.
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