Saving for Retirement at 40? Budgeting Isn’t Enough
episodePreviously titled “Ep 135 | Saving for Retirement at 40? Budgeting Isn’t Enough” — renamed by the publisher on Aug 2, 2026
Wealthy After 40: Retirement Planning and Budgeting for Gen X
16 min
1 speaker
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
Why is being 'late' to retirement more than just a budgeting problem?
If you feel like you're late to the retirement game and don't have much saved, you're not looking at a simple balancing act anymore. You're on a mission and every dollar is an opportunity to improve your situation. Today we're covering the method to use when starting late and saving for retirement or trying to speed up retirement savings without feeling restricted. Welcome to the Wealthy After 40 podcast, the show for Gen X women and couples who are ready to ditch financial stress and feel confident about retirement. I'm your host, Dailene Higgins, financial and retirement coach, helping Gen Xers master their money and create a personalized retirement plan so they can stop spinning their wheels and step boldly into their dream retirement.
If you're feeling behind, don't worry. Continue listening to this podcast as well as be sure to grab your free guide, Five Must Do Steps to Start Retirement Planning Now at elevatefinances.us backslash must do. And remember, let's make retirement possible together. As I said in the intro, if you're feeling late to having enough money saved, get started late for many different reasons, it's really time to look at how you're handling your money. It's not just a balancing act anymore. And you're on a mission to look at every dollar as an opportunity to grow your retirement savings. But it's not the time for you to feel hopeless or abandon your efforts. It is the time to get serious, and that's what I'm going to help you dive in today.
You can't balance now and later the same way someone with $500,000 in retirement savings can. If you have less, you want to stick around, keep on listening, and I will guide you through what you need to do to increase savings
How should someone reframe every dollar when trying to catch up on retirement?
without aches and pains. Most people think the problem is just, I need to save more. So in an attempt, and this is probably you, you just throw money at savings. And then you find yourself with, quote, money problems. You don't have enough to pay the bills, or there's a lot of shuffling on money, or you're dipping into your emergency savings, if you have some, or reaching for that credit card because you don't. This causes an imbalance with your cash, with your money and creates problems. But the real issue with that is lack of clarity, lack of understanding where your money is going and how much you truly need, i.e. how much money you truly have available for savings. Clients after working with me in session one find anywhere from $400 to $800 of savings each month.
That range depends on how much you're making, but they didn't know that the savings was there. I help them find the savings using my aligned money method inside the Retirement Roadmap session. If you're ready to increase savings and you want an outcome similar to my clients, book your free call at elevatefinances.us backslash connection to learn more. We'll chat about what is the next best move for you. So if you're still buying everything that brings a little joy, but you're feeling panicked about retirement, You're spending like somebody who has margin, who has extra. But really, you just need to spend. I'm not going to say it's time to stop spending, but you need to spend like somebody with purpose.
And that's what I'm going to help you create today. If you're behind... It's time to view every dollar as an opportunity. It's not just a dollar. It's an opportunity. And every dollar you earn is an opportunity to grow your savings and get you closer to retirement. It's time to lose the words where it's just this much or it's only this much. as any amount and all amounts quickly add up and help you move closer to retirement. It's not about no spending. I don't believe in that. If you stuck around here for a while, it's intentional spending. Aligning your spending with your goals and values opens up your opportunities more easily. This is how you lose the I don't want to feel restricted, but you find savings that can help you move closer to retirement.
What can you do? I'm gonna give you four action steps to begin seeing your money differently and start saving more.
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Chapters
3 chaptersSpeakers
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