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How to Build Wealth in Your 50s

 

Midlife is filled with challenges and opportunities. Yes, you might be in the thick of paying for college, but soon all those other costs that come with kids should be behind you—or so you hope. And while losing your job may be a bigger risk now that you’re older, you’re also likely in your peak earning years.

When you’re making the most is also when you should try to save the most. Some 40% of successful savers—those who built nest eggs equivalent to 10 times pay—did so by saving 15% or more of their incomes for at least 10 years. Here’s how you can shore up your finances during the final push to retirement:

 
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