X% of Americans Over 50 Have NOTHING Saved…
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 21 May 2025
⏱️ 63 minutes
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Summary
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| 0:00.0 | Unbelievable. This percent of my peers have absolutely nothing saved for retirement. |
| 0:11.0 | Brent, I am so excited to talk about this because I think that we can change it. |
| 0:15.7 | I think this is a statistic that is sad and frustrating, but I believe that it's one that you and I sitting |
| 0:22.5 | right here can improve on moving forward. |
| 0:26.0 | So the big reveal. |
| 0:28.6 | If we were just, because let's just go right out of the gates and tell. |
| 0:31.6 | Now, I want to flip this into the glass is half full. |
| 0:35.4 | Fortunately, 80% of my peers are actually saving for retirement, but unfortunately, 20% |
| 0:42.6 | are 1 in 5 have absolutely nothing saved. |
| 0:46.3 | It's pretty dire, right? |
| 0:47.2 | When you think about turning 50, hitting that thresholding, that mark, most people, |
| 0:51.5 | if you're thinking about a normal retirement timeline, you're thinking about |
| 0:54.2 | age 65. Well, by the time you get to 50, 65 isn't so close. I mean, it's not like right |
| 1:00.4 | around the corner, but you can see it. You can see the landing approaching. And for folks who have |
| 1:05.8 | done nothing, who have not prepared at all, I got to believe it's a pretty frightening and |
| 1:10.5 | pretty scary |
| 1:11.3 | experience to be in. So that's why, let's actually bring people to the bridge. And by the way, |
| 1:15.4 | if you're younger than 50, which 87% of you are, because I went and pulled the stats this morning, |
| 1:20.9 | still stick around because we got some great stats on how you can do this differently. You don't |
| 1:26.9 | have to be the passive player |
| 1:29.0 | in your own financial life and wake up when you're 50 plus and go, oh my gosh, how do I catch up? |
| 1:34.2 | How do I actually make this work? So we're going to hit the pause button for you young people |
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