13 May Starting late on retirement planning?
Feel Behind on Retirement? You’re Not Alone
Starting late on retirement planning? Learn how women can catch up with smart, strategic moves—including annuity options for guaranteed income.
You’re Not Behind—You’re Just Starting From Now
If you’re in your 40s, 50s, or even 60s and feeling behind on retirement savings, you’re not alone—and you’re definitely not too late. According to the Transamerica Center for Retirement Studies, only 12% of women feel very confident they’ll retire comfortably. That means most are in the same boat: trying to figure out how to catch up.
The good news? You still have time, and there are powerful tools that can help you build security and peace of mind—starting today.
The Biggest Retirement Challenges for Late Starters
Not Enough Time for Traditional Growth
The earlier you start, the more compound interest works in your favor. But starting later means you need to make every dollar work harder.
Unpredictable Market Risk
Relying solely on the stock market at this stage can be risky. You need predictable income, not uncertainty.
Long Lifespans = Greater Need
Women live longer than men, on average. That means your money needs to last even longer—potentially 20–30 years post-retirement.
Smart Ways Women Can Catch Up on Retirement
Max Out Tax-Advantaged Accounts
- ✅ Contribute the max to a 401(k) or IRA
- ✅ Use catch-up contributions if you’re 50+
- ✅ Consider a Roth conversion for tax flexibility
Add an Annuity for Guaranteed Income
An annuity offers guaranteed income for life—no matter when you start. The RetirementPAYDAY Annuity from The Policy Shop is especially helpful for:
- Women starting late
- Business owners without pensions
- Those looking for reliable, steady income
The Policy Shop can help you start where you are and grow from here.
Reassess Your Timeline & Goals
You may not need a 7-figure nest egg to retire. Consider part-time work, phased retirement, or downsizing to stretch your savings.
5 Steps to Catch Up on Retirement—Starting Now
- ✅ Open a traditional or Roth IRA today
- ✅ Use catch-up contributions (up to $7,500 for IRA, $30,000 for 401(k))
- ✅ Get a RetirementPAYDAY Annuity quote for guaranteed income
- ✅ Eliminate high-interest debt to free up savings
- ✅ Meet with a retirement planner to build your custom catch-up strategy
FAQs | Retirement Planning
Can I really catch up if I’m over 50?
Yes. With disciplined contributions, annuities, and a clear plan, many women build a strong retirement in just 10–15 years.
Is an annuity a good choice if I’m starting late?
Absolutely. Annuities provide guaranteed income, even if you start with a lump sum later in life.
Should I delay retirement?
It’s an option, but not always necessary. With smart strategies, you may not need to work longer than you want to.
Final Thought: It’s Not Too Late to Take Control
You don’t need to be perfect—you just need to begin. With the right strategy and tools, you can build a secure, dignified retirement that supports your lifestyle and legacy.
The Policy Shop can help you start where you are and grow from here.