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Phil Osagie
Updated Mar 26, 2026
So, you’ve left planning for your golden years to the mid-century mark — don’t worry. You’re not the only one.
About 20% of Americans aged 50 and older have nothing saved for retirement, according to a recent survey by AARP.
For those starting late, the challenge to save enough in time might seem daunting. Americans, on average, believe they’ll need nearly $1.46 million for a comfortable retirement, based on a 2024 study by Northwestern Mutual.
Even if you’re one of the many Americans falling short of what you expected to have stashed away for retirement by now, you still have options — here are six ways to catch up fast.
Fundrise Flagship Fund
Buy real estate through Fundrise's $1 billion private fund
Supercharge your retirement contributions
Take advantage of your employer’s 401(k) matching program if that's an option. It’s essentially free money — and if you aren't taking it, you’re effectively taking a pay cut.
Once you’re contributing enough to capture that match, there are a few critical questions: Should you open a Roth IRA for its tax-free growth or a traditional IRA to lower your current taxable income?
Once you’re over 50, the IRS allows you to make additional contributions to your retirement accounts, but knowing which account to fill first is where many people may stumble.
When you have 30 years to go, you may be able to afford a few mistakes. But when you only have 10 or 15, every move counts.
By hiring a fiduciary advisor, you’re gaining a strategist who looks at your financial buckets — from real estate and investment accounts to your cash reserve and 401(k) — as a whole.
A fiduciary is a professional legally bound to put your interests first. They help you stop managing a collection of accounts and start planning for your retirement strategically.
Platforms like Advisor.com take the guesswork out of finding this expertise.
Just indicate what you need help with — like tax optimization, retirement planning, or budgeting — answer a few quick questions through their online form and the platform will match you with a vetted financial advisor in 5 minutes.
You can set up a free, no-obligation-to-hire call to see how they can help you create an actionable plan and whether their approach and pricing model make sense for you.
Plus, it's not just about figuring out what accounts to open and how to maximize each one, a financial advisor can help with which assets make sense to invest in, depending on your financial situation.
Placing high-growth assets in tax-free accounts while using safe-haven hedges can help protect your nest egg from inflation.
Gold, for instance, has served as a store of value for thousands of years. It isn’t tied to any single country, currency or economy and it can’t be printed like fiat money. Investors often flock to it during periods of economic stress or geopolitical uncertainty — pushing prices higher.
Gold prices have surged by more than 80% year to date, hitting multiple record highs in 2025, with projections suggesting it could soon exceed $6,000.
One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Preserve Gold.
Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.
To learn more, you can get a free information guide that includes details on how to get up to $20,000 in cashback on qualifying purchases.
Invest in real estate
Most of the world’s most successful investors know that investing in real estate is one of the smartest choices for long-term growth. But did you know it is still possible to build your portfolio without having to play landlord or forking over a huge down payment?
The Fundrise Flagship Fund¹ is a $1 billion private real estate fund that lets you invest in an expertly crafted strategy without needing hundreds of thousands of dollars. You don’t need to be an accredited investor, and you can get started with as little as $10.
With 4,700+ single-family homes and 2,500+ residential units owned by the Fundrise Flagship Fund, you get exposure to institutional-style scale and diversification.
Industrial
215 Interchange
Las Vegas, NV
Build-for-rent
Pine Ridge
Fountain Inn, SC
Build-for-rent
Omnia
Richmond Hill, GA
These are a few examples of properties powering the Fundrise Flagship Fund. For a full list of the Fundrise Flagship Fund's portfolio properties see the Flagship Fund website.
After you place your first investment, the Fundrise Flagship Fund will work to find and add new assets to your portfolio over time and send you transparent updates along the way.
It only takes a few minutes to sign up now and become a real estate investor today.
Fundrise Flagship Fund
Buy real estate through Fundrise's $1 billion private fund
Invest your spare change
You don’t always have to put away large sums to move toward your retirement goals. Ten dollars a week could make a difference – if you’re smart about what to do with your spare change.
When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and places the excess — the coins that would wind up in your pocket if you were paying cash — into a smart investment portfolio.
Let’s say you purchase a doughnut for $2.30. Before you’re done licking the sugar off your fingers, Acorns will round the amount to $3.00 and invest the 70-cent difference for you. Look at this math: $2.50 worth of daily round-ups add up to $900 per year — and that’s before your savings earn money in the market.
Plus, if you sign up now with a recurring deposit, you can get a $20 bonus investment.
Maximize your current savings
57% of Americans put their money in traditional savings accounts, which have an average percentage yield of only 0.41%, according to the Federal Deposit Insurance Corporation (FDIC).
If you want to grow your savings more efficiently, you can do just that with a high-yield cash account.
A high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it.
A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks, and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%².
That's ten times the national deposit savings rate, according to the FDIC's March report³.
Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase⁴ with no expiration date or balance limit, meaning your APY could be as high as 4.30%.
With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8M FDIC Insurance eligibility through program banks.
To stretch your savings even more, you also might want to consider joining senior-focused organizations like AARP for discounts on almost everything — from prescriptions and dental plans to travel, entertainment and insurance.
As one of the most trusted organizations for older Americans, AARP not only offers money-saving perks, but they can also help you make informed financial and health decisions.
AARP members get access to guides that can help you make the most of Social Security, choose the right Medicare plan, and uncover other government benefits — potentially saving you thousands.
Sign up with AARP today and get 25% off your first year.
Clear your debts ASAP
If you’ve been paying your mortgage for 15 to 20 years, you’ve likely built up a large amount of equity yourself. And if you owe a lot on high-interest credit cards, tapping into that equity can be a smart way to consolidate debt at far lower rates.
One option is a HELOC or home equity loan, which lets you borrow against the equity you’ve already built — usually at rates well below what credit cards and personal loans charge. Rolling your balances into a single, lower-interest payment can make a big difference in how quickly you can pay down your debt. Having access to your home equity can also help cover surprise expenses or supplement your retirement income.
You can compare low HELOC rates in minutes with Figure. Their application is 100% online — no need to wait for an in-person appraisal.
And if your debt load is substantial, it may be worth checking whether you qualify for a debt relief program.
With Freedom Debt Relief, you can speak with a certified consultant for free to see how much you might save through negotiated settlements.
If you're eligible, they can negotiate settlements with your creditors until all of your enrolled debt is resolved.
For Americans who are at least 62 years old, a reverse mortgage can help you tap into your home equity to supplement your income or pay high-interest credit card debt.
You can choose to borrow the funds as a lump sum or fixed monthly payment and can spend it however you want. It can be a valuable financial tool — especially when managed with care.
The reverse mortgage becomes due once the borrower passes away, stops using the home as their primary residence, or sells the property. You can get a reverse mortgage through Longbridge.
Cut back on your monthly costs
Another smart way to grow your retirement savings is by cutting back on recurring expenses.
For instance, many people are overpaying for car insurance simply because they don't compare rates regularly.
By using a comparison platform like Insurify, you can instantly view quotes from top-rated providers to ensure you aren't paying a hidden ‘loyalty tax’ to your current insurer.
Just answer a few basic questions, and Insurify will show you the most affordable deals in as little as 3 minutes.
Not only is the process 100% free, but you could also save up to 15% by bundling your car insurance and home insurance together.
A quick daily check-in of your accounts can show you exactly where your money is going.
An app like Rocket Money can easily flag recurring subscriptions, upcoming bills and unusual charges by pulling in transactions from all your linked accounts.
This can help you cut unnecessary costs, and then you can manually redirect savings straight into your retirement fund. No spreadsheets, no guesswork, no stress. Small habits like this can make a big difference over time.
Rocket Money’s intuitive app offers a variety of free and premium tools. Free features include subscription tracking, bill reminders and budgeting basics, while premium features — like automated savings, net worth tracking, customizable dashboards, and more — make it easier to stay on top of your retirement contributions and overall financial goals.
Ensure your loved ones are taken care of
Many retirees are part of a couple, relying on the income from two people to make ends meet.
If the worst should happen, you’ll want to ensure your partner has the funds they’ll need to cover unexpected costs.
Life insurance can offer a versatile solution to help support your family, providing coverage to potentially replace lost income or settle outstanding debts in the event of your death.
Opting for term life insurance through a provider like Ethos, ensures that as you age, your loved ones are protected from unexpected costs. With term life insurance, you can secure affordable coverage while managing your other financial responsibilities.
Ethos offers an easy online process that allows you to get up to $2 million in coverage with terms spanning from 10 to 30 years. To get a free quote, simply answer a few questions about yourself. Then, you can compare various policies and choose one that best suits your needs.
More ways to boost your retirement savings
Arrived
Real estate investing
Buy shares of homes and vacation rentals for as little as $100.
Figure
HELOC
Tap into your home equity to pay off debt or fund a renovation.
Advisor
Financial advisor
Connect with a vetted wealth expert to help you get on track.
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The Base Annual Percentage Yield (APY) is 3.30%, as of 01/30/26, and is subject to change. If you are eligible for the overall boosted rate of 4.05% offered in connection with this promo, your boosted rate is also subject to change if the base rate decreases during the three-month promotional period. The Cash Account is offered by Wealthfront Brokerage LLC, Member FINRA/SIPC. Wealthfront is not a bank. The Base APY is representative, subject to change, and requires no minimum. Wealthfront Brokerage sweeps cash balances to Program Banks, where it earns the variable base APY and is eligible for FDIC insurance. Instant withdrawals may be limited by your receiving firm and other factors. Investment advisory services provided by Wealthfront Advisers LLC, an SEC-registered investment adviser. Securities investments: not bank deposits, bank-guaranteed or FDIC-insured, and may lose value.
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Based on the national average savings accounts interest rate of 0.39% as posted on FDIC.gov, as of March 16, 2026. Wealthfront doesn't charge wire fees for transfers to title and escrow companies or your accounts at other institutions, but the receiving entity or institution may charge a fee. For more wire info, visit wealthfront.com/transfer-agreement.
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The Direct Deposit Plus Investing Program ("DDI Program") from Wealthfront Advisers LLC and Wealthfront Brokerage LLC (collectively, "Wealthfront") provides eligible clients a 0.25% annual percentage yield ("APY") increase above the current base APY (paid by Program Banks) on total eligible Cash Account balances. Wealthfront may change or end the program at any time and determines eligibility at its discretion. See Terms and Conditions at wealthfront.com/promo-terms.
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Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund’s prospectus. Read them carefully before investing. This marketing was vetted by the Moneywise team and sponsored by the Fundrise Flagship Fund.
Phil Osagie
Conversion Copywriter
Phil is a writer at Moneywise, bringing a strong background in public relations, financial communications and copywriting. Educated in Cambridge, U.K., he has created content for several blue-chip companies, combining clarity with strategic insight.
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