Your Life If You Turn 60 With No Retirement Savings - What I Wish I Knew

Comments · 14

• MO

  @MoneywithLeoo · 2 weeks ago · pinned

  What is the most money you ever gave a grown child, or an aging parent, and would you give it again? <br> <br>Say how old you were, because someone turning sixty with a zero on their screen needs to see it is not too late.

  3

• TH

  @thebes118 · 7 days ago

  I&apos;m glad I never mooched off my parents. Not rich, but made my own way without being a burden to them.

  7

• JI

  @jip230 · 7 days ago

  So Tyler can’t afford to pay his own rent, but he wants you to co sign on an suv?? Um no.

  11

• AL

  @alicecoppers8980 · 4 days ago

  I taught my children when they were young that if they didn&apos;t have enough money for something they wanted, they had only to save...I was not responsible for their pleasures. I would give them a bed at my house temporarily or food. But no cash.

  4

• DO

  @dougmcmahon5459 · 1 day ago

  That cartoon dude looks 35 not 60

  2

• GE

  @geofractal · 7 days ago (edited)

  The life of the responsible provider. Seems like Enis was right.

  1

• SC

  @scottb5733 · 1 day ago

  I cannot imagine being age 60, married, and with no retirement savings. That is the definition of being scared sh—tless. People, listen up! &nbsp;You cannot afford to financially wake up at age 60. Begin a disciplined savings plan prior to age 40. And never, never, never touch that money until retirement.

• BL

  @BlakeHouse-j3u · 4 days ago

  Well, &nbsp;Tyler&apos;s SUV would have been upside down on the loan . And Divorce Lawyers don&apos;t work for free , but he would have gotten screwed in the divorce for exponentially more than the Lawyer cost .<br><br> &nbsp; So no , not 18K , but something would have been actually needed .<br><br> &nbsp; Not paying the gap on the SUV loan , would have been co signer&apos;s ultimate responsibility, &nbsp;and better to pay it instead of taking Credit Score hit over it . And letting Tyler get totally wiped out by greedy ex wife , would have left you stepping in , so that he wouldn&apos;t be living in a cardboard box .

  1

• JO

  @JOHNMcParland-m6n · 4 days ago

  Really nice to help kids, who will help you? These kids who aave nothing? When you are destitue will they even cover your grocery bill? You have to say no, you just have to say no.

• BL

  @BlakeHouse-j3u · 4 days ago

  The big lesson? <br> Dude really, &nbsp;really needed to have had this come to grips moment at 50 , instead of 60 .<br><br> &nbsp; Grinding until 67 , instead of 62 or 65 , gotten lucky that health held out .<br><br> &nbsp; IF his situation is as implied , that the 401 was his primary retirement income source , his situation still sucks .<br><br> &nbsp; That total is greater that the Zero it was a 60 . But $600 / month , plus 2,300 of SS , with no other reserve savings, &nbsp;the first major home repair , or car dies and needs replacement &nbsp;, he&apos;s going to need reverse mortage to tap into his equity .

• MA

  @ManiacalLaugh5411 · 4 days ago

  This wasn&apos;t terrible. A lot of the videos about getting a late start spend too much time shaming people who didn&apos;t start saving in their 20s.

  1

• CA

  @Cass-gi4kk · 2 days ago

  Frikkin <br>Tyler