The Hidden Perks of Starting Late for Retirement Success
episodePreviously titled “Ep 151 | The Hidden Perks of Starting Late for Retirement Success” — renamed by the publisher on Aug 2, 2026
Wealthy After 40: Retirement Planning and Budgeting for Gen X
17 min
2 speakers
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
Could starting retirement planning later actually be an advantage?
You might think you're behind, but what if I told you that starting later actually gives you an advantage? By your 40s and 50s, you know your values, your lifestyle, and your income is likely higher than ever before. That means that your money decisions you make now are smarter, more intentional, and more powerful. Stay tuned as I share with you how to find your late start advantage. 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. Welcome to the episode and the second episode in the series about your late start, getting started late, however you're thinking about that. Starting later means you have clarity, resources, and life experience on your side. Things that you did not have at the age of 25. So when you focus on what you can do now with all of those pieces, and we're going to gather those pieces in this episode, you'll move further and faster because of those experiences.
Let's start with what clarity do you have now? Identifying your advantage here, your late start advantage. What clarity do you have now versus your 25-year-old you? Now think back to when you were 25. What were you doing? What was a highlight of the day or the week or the month? You may or may not have been a parent. You may or may not have been in college. 25 is a lot it could be going on in differences for all you listeners. But I want you to think about you. You yourself at 25. What did you know about money? What did you feel about money? And then what clarity do you have now? So to better help you define this, when you were 25 and it was payday, what did you do? Now I described all sorts of different 25-year-old scenarios.
Maybe you were like, I paid my bills. We were scraping by.
What clarity and life experience do Gen Xers have in their 40s and 50s compared to age 25?
We were newly married. I was in school, whatever it may be. Maybe you were like, well, I was out partying with friends and I just was like, oh man, I can go fill up my car with gas. I can head out to this party or whatever it may be. That feeling you had and what you specifically did on a payday with your money. Now I want you to fast forward to today when your paydays come. What do you think about? What do you do? What challenges? What hurdles? And as you think about that, how do you handle money different than you would at 25 if you were dealing with the same situation? Now you're thinking, why is this important? Well, I want you to really see what 15, 20, 25 years has done. And reflecting back to that age,
And thinking about now, you see the growth. You see all that you've learned. And when you think about it, you are like, well, I'd rather have this than that, whatever those two things are. You can begin seeing how your values show up. 25-year-old you was still trying to really blossom, figure out who they were, are, all those things. But really, from then till now, and if you reflect back, which I'm going to help you do that, you can start seeing your specific values with money. Now, if you've been here long enough, you know that I love talking about, you know, putting these values on your money, on your life. Basically on your life so that you can spend your money to support how happy you want to be.
I had a client once. She was one of my low income earners. And when I first began working with her and looking at her situation, she was like, I buy organic food. I buy specific specialty foods. I'm like, okay. And she says, and I buy nice clothing, like upper end clothing. I don't buy a lot. You know, and she didn't. She didn't spend a lot of money, but she already had defined these two areas.
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Chapters
3 chaptersSpeakers
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