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1. Take a Good Look at Where You Stand Right Now
👉 In a Nutshell: Know exactly how much you have and how much you owe.
If you’re in your 40s and haven’t checked your money situation lately, now’s the time.
You can’t fix what you don’t see.
Think of it like checking your car’s fuel before a road trip. You need to know if you’ll make it or get stranded near Alligator Alley.
☝️ This includes your savings, debt, monthly expenses, and income.
Once you know the full picture, planning your next move becomes way easier.
↪️ Here’s How You’ll Do It
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Step 1: Make a List: Write down all your accounts, debts, and balances.
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Step 2: Track Your Spending: Use an app to see where your money goes.
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Step 3: Add It All Up: Calculate your total net worth (assets minus debt).
2. Set a Clear and Realistic Retirement Goal
👉 In a Nutshell: Decide how much money you’ll need and by when.
Look, retirement isn’t just “someday.”
It’s a real deadline.
And if you don’t know the number you’re aiming for, you’ll just keep spinning in circles 😅
This isn’t about becoming a millionaire overnight.
It’s about making sure Future You doesn’t end up living off gas station hot dogs.
↪️ Here’s How You’ll Do It
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Step 1: Pick Your Number: Use a free retirement calculator online.
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Step 2: Set a Timeline: Choose when you want to retire (60? 65?).
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Step 3: Reverse Engineer: Figure out how much to save each month to hit that goal.
3. Automate Your Savings So You Don’t Skip a Beat
👉 In a Nutshell: Set it and forget it. Let the money move by itself.
Let’s be real. You’re busy.
Work, family, Netflix queues… It’s a lot.
You don’t need to remember one more thing to remember every month.
That’s why automation is your new best friend 😎
It moves your money before you get the chance to spend it on takeout again.
↪️ Here’s How You’ll Do It
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Step 1: Pick a Percentage: Decide how much you’ll save from each paycheck.
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Step 2: Set It Up: Use your bank or retirement app to auto-transfer that amount.
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Step 3: Forget About It: Let it run while you go live your life.
4. Max Out Your Retirement Accounts ASAP
👉 In a Nutshell: Use every dollar of your retirement account limits before it resets.
Do you know what’s better than saving money?
Saving money and paying less in taxes 😁
Your 401(k), IRA, or Roth IRA are not just savings. They’re shields.
They protect your cash from Uncle Sam’s hungry hands.
And the faster you max them out, the more your future self will thank you.
↪️ Here’s How You’ll Do It
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Step 1: Check the Limit: Look up the current max contribution for your account.
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Step 2: Raise the Bar: Increase your contributions monthly until you reach it.
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Step 3: Use Auto-Increase: Set your account to raise your contribution automatically every year.
5. Shake Your Budget, Cut Unnecessary Spending, and Reassign That Cash
👉 In a Nutshell: Free up money hiding in your current lifestyle.
You don’t need to live like a monk.
But if your money keeps disappearing, something’s gotta go 😅
Start by looking at what you spend without thinking. Subscriptions, takeout, random Amazon scrolls.
You’ll be shocked at how much you can free up just by adjusting a few habits.
That extra cash? It’s fuel for your retirement rocket.
↪️ Here’s How You’ll Do It
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Step 1: Review Your Last Month: Highlight anything you didn’t really need.
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Step 2: Cut and Replace: Cancel or reduce expenses, then move that money into savings.
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Step 3: Repeat Monthly: Keep checking and tightening without going full extreme couponer.
6. Put Your Money in Things That Can Grow
👉 In a Nutshell: Let your money work while you sleep.
Savings accounts are cute but… kinda lazy.
You need your money to hustle harder than you do.
That means putting it in stocks, ETFs, index funds. Things with actual growth potential 😏
The earlier you start, the more time it has to do its thing.
Think of it like planting mango trees. Boring at first, but later? Juicy rewards.
↪️ Here’s How You’ll Do It
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Step 1: Open an Investment Account: Use a platform like Fidelity, Vanguard, or your 401(k).
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Step 2: Pick Long-Term Options: Focus on index funds or target-date funds.
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Step 3: Contribute Monthly: Even small amounts add up big over time.
7. Make a Plan to Earn Extra Income in Your Free Time
👉 In a Nutshell: Use your free hours to boost your future.
Even if your 9-to-5 covers the bills, that doesn’t mean you stop there.
Side income is the cheat code you’ve been ignoring 😲
Freelancing, reselling, online tutoring, renting out stuff. It adds up fast.
This money doesn’t have to touch your main expenses.
Just throw it straight into retirement and watch the compound magic happen.
↪️ Here’s How You’ll Do It
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Step 1: Pick a Skill or Idea: What could you do for extra cash?
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Step 2: Set Hours: Block time each week. Even just a few.
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Step 3: Direct Deposit to Retirement: Send that money straight into your savings.
8. Don’t Rely on Social Security to Carry You
👉 In a Nutshell: It’s a backup plan, not a full plan.
Social Security is like that one cousin who might show up to help you move.
Maybe they’ll come through… maybe not 🤨
You don’t want to bet your future on “maybe.”
Build your own safety net so that anything from Social Security feels like a bonus.
↪️ Here’s How You’ll Do It
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Step 1: Look Up Your Estimate: Use the SSA website to see your projected benefits.
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Step 2: Plan Without It: Make your retirement plan work without counting on it.
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Step 3: Use It as Extra: Treat it like a cherry on top, not the whole sundae.
9. Stay Away From Bad Debt Like the Plague
👉 In a Nutshell: High-interest debt is your retirement’s worst enemy.
You can’t build wealth while dragging debt like an anchor.
Especially the nasty kind. Credit cards, payday loans, high-interest junk.
It doesn’t just slow you down, it reverses your progress 😭
Focus on clearing it fast so you can breathe (and invest).
Debt-free is the new sexy, let’s be honest.
↪️ Here’s How You’ll Do It
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Step 1: List Every Debt: Write down what you owe and the interest rates.
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Step 2: Pay Down the Worst First: Target the highest-interest ones with extra payments.
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Step 3: Cut the Cards: Pause credit card use while you clean it up.
10. Plan for Healthcare and Other Big Costs
👉 In a Nutshell: Your body’s not 25 anymore. Prepare for it.
Healthcare in retirement is no joke.
It’s one of the biggest expenses people forget to plan for.
Doctor visits, meds, insurance premiums. They all add up 😳
If you don’t prepare now, it’ll hit hard later.
Better to have the cash than to play catch-up with hospital bills.
↪️ Here’s How You’ll Do It
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Step 1: Open an HSA: If you have a high-deductible health plan, use it.
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Step 2: Estimate Future Costs: Use online tools to guess your retirement medical expenses.
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Step 3: Set Aside Extra: Treat healthcare like rent. Budget for it every month.
You don’t need to be perfect. You just need to start.
Small moves today will give you way more freedom tomorrow.
🫸🫷 Dale! (See you!)