8 Steps to Build Wealth Fast When You Got a Late Start on Retirement

Late starters have advantages that younger savers don’t.

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If you’re 45 or 55 and you want to start retirement planning, don’t worry. You’re not alone, and you’re not out of options. Yes, it’s true you got a late start and have less runway than someone who started at 25, but in many cases, people your age earn more now than they ever have, and your kids may be finally off the payroll.

Late starters can build serious wealth with the right moves. These eight steps will show you how to catch up fast and secure your financial future.

1. With a Late Start, Know Your Retirement Gap and Set Aggressive Goals

You can’t hit a target you can’t see, so the best thing to do is get crystal clear on your numbers first.