Tips to Starting Over at 50 with No Money




Most people dream of living a good life in retirement, and if possible, a comfortable and luxurious one. However, it can be challenging, especially for people who have kids to raise and send to school or families to support. Many people reach retirement age with no savings left at all. The good news is that there are more opportunities available to enhance our lives at any age than ever before.


For adults who are already in their 50’s, finding a job can be home humiliating and exhausting. That is why is it extremely important to have your own business which you manage. An online business is preferable for many reasons. You can still work for someone else, but building your own business online is critical. An online business can be run on your laptop from anywhere in the world. This is complete life freedom.


As we age we are more apt to have physical health issues. For instance, if you were a Carpenter in your profession and suddenly your back gives out or you need a major surgery you could be out of work for months. Depending on government disability is not a good plan and doesn’t provide very much income.


Life becomes easier for those who have set some money aside for retirement and have an online Starting over at 50 is very doable. It is just a matter of having a solid financial plan for the next coming years.


This is how you can get started.

  1. Commit to building your own business online. Even if you are not very technology orientated you can still learn how to do this by selecting a good, reputable educational system. To find a good reputable educational system on how to set up a business you can take college courses or Google the business that you’re interested in learning about. There usually is an education system tutorials on how to build it.


  1. Do you ever think to yourself – “I had that idea for a business and somebody took it for me!” We all have ideas and inventions that we can develop online. Develop your own business by taking entrepreneurial courses, get a Kickstarter campaign going to fund it and keep building out your business. The Internet makes it extremely easy to hire assistance who specialize in things like marketing, website design, Facebook marketing and just about anything pertaining to business. One service I use is called Fiverr. . you can hire an assistant to do anything you need. Just go to


  1. Pay yourself first by saving 10% of your income. That is a general rule but at the age of 50 or more is better to save 20 to 30% of your income. There is no reason to delay saving. Do it right this very moment, or you will never be able start. Put some money into your retirement account today. It does not have to be a lot, but what’s important is that you are starting little by little. In the end, you will be thankful that you have made this decision.


Set a savings goal. It is great idea to have a clear financial goal. You need to set a specific amount that you want to reach on a monthly basis. Remember to take into consideration the unexpected emergency expenses. It is always best to plan ahead for the future because we don’t know what it will bring.

  1. Reduce your expenses. If you think that you are not saving enough, take a closer look at your expenses. I use Word Excel spreadsheets to manage my expenses.Simply set up a Excel sheet on your desk top and put on the left-hand column all of your monthly expenses. At the top of the XL spreadsheet have columns for the day when your expenses are due, which credit card you’re using and how much you owe on that credit card. It is always a good idea for you to have a visual over your expenses.


Take a look at that list and see whether you can cross some items out. We have all heard about the Starbucks rule. The amount of money you spend on a Starbucks could be five dollars per day that’s up to $150 per month. Purchase an espresso maker and it will by far pay for itself for many many years to come. Learn to cut items that are not really important. The extra money left can be allotted for your savings. Slash your expenses as much as you can. At the end of the day, it will do you good for your future.


  1. investment wisely. You may have 10 to 20 years or more to work and invest. Read books on money management in investing. One of my favorite books is called Money by Tony Robbins.

Seek the advice of a fiduciary financial adviser. A fiduciary financial advisor doesn’t have his own best interest at heart. Most financial advisors want you to invest in vehicles they get big commissions on. A fiduciary advisor is there to serve you not their own pockets.


  1. Take the time and have fun in life. You can travel to any destination in the world on a budget. It is important to travel and explore the world for our own psyches. Plus you will be interesting to other people and more compassionate about other cultures. Even traveling in your own backyard to a museum or go see a play or have a good dining experience ads to happiness in life. And remember to be grateful for everything that you have and for your health.


Click here to find out how to build your 6-figure business:


Enjoy the process!



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