While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
Marie Alcober
Updated Jun 10, 2026
So, you've reached your 50s and your retirement savings aren't where you'd like them to be.
You're far from alone. About one in five Americans age 50 and older has no retirement savings, according to AARP.
That can feel daunting, especially when surveys suggest Americans believe they'll need well over $1 million to retire comfortably.
But here’s the good news: For many people, their 50s represent their highest-earning years.
Americans aged 45 to 54 bring in the highest median earnings of their careers, roughly $1,376 per week, according to the Bureau of Labor Statistics.
If you're behind where you hoped to be, you still have options — and the potential income to act on them.
Use catch-up contributions — and get someone to help you use them right
When you have 30 years to go, you can absorb a few investment mistakes. With 10 or 15, every move counts.
Fortunately, the tax code actually works in your favor once you hit 50. The IRS allows workers 50 and older to make additional catch-up contributions to their retirement accounts, so you can shield more of your peak earnings from taxes than younger savers can.
The harder question is where to direct that money. Roth IRA for tax-free growth in retirement? Traditional 401(k) to lower your taxable income now? That's where many people stumble — and where a fiduciary financial advisor earns their keep.
A fiduciary is legally required to act in your interest. Plus, they look at your whole picture — retirement accounts, cash reserves, investments — and help you build a cohesive strategy instead of just managing a collection of accounts.
Platforms like Advisor.com can quickly match you with fiduciary professionals from their network of advisory firms and boutique local advisors who can help you create a personalized retirement plan.
How to get matched with an advisor:
- Answer a few quick questions about yourself and what you would like help with through their online form.
- Advisor.com will match you (for free) with a vetted advisor who can provide you with a personalized plan to meet your financial goals.
- Book a free, no-obligation consultation to see whether their approach and pricing model make sense for you.
Cut your fixed bills and redirect the difference
Every dollar you're overpaying on a recurring bill is a dollar that isn't compounding in your retirement accounts. During your peak earning years, trimming fixed expenses is one of the fastest ways to free up cash without changing your lifestyle.
Car insurance is a classic example. Many drivers don't comparison shop regularly — and insurers count on that loyalty.
A platform like Insurify lets you view quotes from top-rated providers in about three minutes, making it easy to see whether you're paying a premium for nothing.
It's free to use, and drivers who bundle home and auto coverage can save up to 15%. That freed-up cash can go straight into a retirement account.
Just answer a few basic questions, and Insurify will show you the most affordable deals in your area.
Protect your portfolio with hard-asset hedges
A compressed timeline means less room to absorb a bad year in the market. Building in some protection — beyond stocks and bonds — makes sense when you're closer to the finish line.
Gold has been a go-to hedge for centuries. It isn't tied to any single currency or government, and it can't be printed. That independence is why investors tend to rotate toward precious metals during periods of economic or geopolitical uncertainty.
Gold prices rose more than 80% year to date in 2025, setting multiple record highs along the way.
One way to add this protection to your portfolio while preserving tax advantages is a gold IRA.
Companies such as Preserve Gold can help you open one — a specialized retirement account that holds physical precious metals.
New clients can also receive a free guide detailing how to get up to $20,000 in cashback on qualifying purchases.
Put your cash to work without taking on more risk
Not every dollar earmarked for retirement belongs in the stock market. If you expect to need certain funds within the next few years, preserving principal may be just as important as growing it.
Traditional savings accounts continue to offer relatively modest returns, which can make it harder for cash to keep pace with inflation over time.
Certificates of deposit (CDs) can provide a middle ground. By locking in a fixed interest rate for a set period, you can earn a predictable return without taking on market risk.
To help savers compare options, CD Valet tracks over 40,000 verified rates from FDIC-insured banks and NCUA-insured credit unions nationwide.
Unlike other websites, they show every publicly available rate, ensuring you have a comprehensive view of the market.
To help you save smarter, CD Valet provides free, specialized tools:
- Earnings calculator: See exactly how much interest you’ll accrue by the end of your term. Adjust different rates and terms to see how much you can earn with a 12-month vs. a 24-month CD.
- CD rates map by state: See real-time offers of the best CD rates across the country. Many institutions allow you to open an online account, so you can take advantage of a great CD rate without being located in that state.
Plus, their CD rates are updated continuously so you can shop, compare and open CDs with ease.
Build yourself a more predictable retirement income
One of the biggest concerns many late-stage savers face is whether their money will last throughout retirement.
One option some retirees use to create a more predictable income is an annuity. In exchange for a lump-sum investment or a series of payments, an insurance company agrees to provide income according to the terms of the contract.
For some retirees, annuities can help create a reliable income stream that complements Social Security and other retirement savings. Because annuities come in several forms — including fixed, variable and indexed products — it's important to understand the tradeoffs before committing.
Platforms like Annuity.org provide educational resources and can connect you with specialists who can help explain different options and determine whether an annuity fits your retirement strategy.
Just answer a few questions about your retirement goals to get a free quote and schedule a no-obligation meeting with one of their specialists.
Invest in real estate without becoming a landlord
Real estate has long been one of the most reliable asset classes for long-term growth and passive income. Starting in your 50s, you might assume you've missed the window — property costs money, mortgages take time and being a landlord is a second job.
You don't have to do any of that.
The Fundrise Flagship Fund² 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, GAThese 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 fundUse your home equity to eliminate high-interest debt
If you've been paying your mortgage for 15 to 20 years, you've built up real equity. If you're also carrying high-interest debt — credit cards, personal loans — those interest payments are quietly draining the budget you need for retirement.
Consolidating that debt with a home equity line of credit (HELOC) can significantly cut your rate, reduce your monthly obligations and free up cash to redirect toward savings. You're using what you already own to get ahead.
Platforms like Amerisave offer competitive HELOC options that let you tap your equity without touching your primary mortgage rate. It's one of the more underused levers available to homeowners in their peak earning years.
It’s well-suited for homeowners who want a mostly online, low-friction experience from a well-known mortgage lender. However, it's important to evaluate the risks carefully since your home serves as collateral.
Make sure your retirement plan protects the people who depend on you
Building retirement savings isn't just about providing for yourself. If you're married or supporting family members, it's also about making sure they're financially secure if something unexpected happens.
Many couples build their retirement plans around two incomes, two Social Security checks and shared savings goals. Losing one partner can create real financial strain — especially with a mortgage still to manage, debts to pay or income that needs replacing.
That's where life insurance fits in. A policy ensures your loved ones have the financial support to cover major expenses and maintain their lifestyle if you're no longer there to contribute.
For adults in their 50s, term life insurance is often the most affordable way to secure that coverage during the years leading up to retirement.
Online insurers like Ethos offer fast, competitive quotes for term coverage tailored to your specific needs, with terms ranging from 10 to 30 years.
The application can take as little as 10 minutes. Most applicants won’t need blood work or an in-person exam — just answer a few basic health and lifestyle questions.
Using real-time data, Ethos can often deliver an instant quote and, in many cases, same-day approval. You may be able to get up to $2 million in coverage, starting at just $2 per day.
Let your home supplement your retirement income
For homeowners thinking further ahead, your property can play a different strategic role once you reach retirement age.
If you're at least 62, a reverse mortgage lets you convert a portion of your home equity into cash — without selling the property or making monthly loan repayments.
You can take the funds as a lump sum, a line of credit or fixed monthly payments. The loan is repaid when you sell the home, permanently move out or pass away.
It's not the right move for everyone, but for late-stage savers who need to supplement income in retirement without liquidating investments, it's a meaningful option worth understanding.
Companies such as Longbridge can help you explore what this could look like for your specific situation.
More ways to boost your retirement savings
Mogul
Real estate investing
Figure
HELOC
Greenlight
Debit Card-
Vanguard Digital Advisor is an all-digital service. Digital Advisor charges brokerage accounts an annual gross advisory fee in the amount of 0.20% for an index portfolio option or 0.25% for an active portfolio option. That gross advisory fee is reduced by a credit of the actual revenue The Vanguard Group, Inc. ("VGI"), or its affiliates retain from investments in each enrolled account, resulting in a net advisory fee. The net advisory fee is the actual fee collected from your account(s) and will vary based on your unique asset allocation, portfolio option, account type, and specific holdings in each enrolled account. Note that this fee doesn't include investment expense ratios charged by a fund, such as fees paid to the funds' third-party managers which are not credited. While we generally recommend using low-cost Vanguard funds to build your portfolio, actively managed funds will have higher expense ratios than index funds. For more information on the services, find VAI's Form CRS and each program's advisory brochure here for an overview.
-
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.
-
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.
-
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.
-
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.
Marie Alcober
Commercial Content Manager
Marie Alcober is a commercial content manager at Moneywise, where she develops branded content that helps readers make smarter money decisions.
Explore the latest articles
Suze Orman: 3 rules to avoid retiring poor
Even if you think you're set, the money guru says too often people retire with only enough savings to last a few years.
Moneywise
Moneywise Editorial Team
Disclaimer
The content provided on Moneywise is information to help users become financially literate. It is neither investment, tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, enter into any loan, mortgage or insurance agreements or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
†Terms and Conditions apply.
