{"id":271699,"date":"2026-01-07T06:28:19","date_gmt":"2026-01-07T06:28:19","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/271699\/"},"modified":"2026-01-07T06:28:19","modified_gmt":"2026-01-07T06:28:19","slug":"5-ways-theyre-making-up-for-lost-time","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/271699\/","title":{"rendered":"5 Ways They\u2019re Making Up for Lost Time"},"content":{"rendered":"\n<p class=\"yf-vbsvxt\">The oldest members of Generation X are turning 60, so for them, retirement is no longer a distant milestone \u2014 it\u2019s right around the corner. Yet, a recent <a href=\"https:\/\/news.nationwide.com\/gen-x-underestimated-retirement-now-theyre-not-sure-they-can-catch-up\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Nationwide Financial survey;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">Nationwide Financial survey<\/a> found that 61% of Gen X investors who aren\u2019t retired didn\u2019t view retirement as an urgent priority until after age 50. That late start can make catching up challenging \u2014 but not impossible.<\/p>\n<p class=\"yf-vbsvxt\">Here\u2019s what this means for Gen X\u2019s financial outlook and the <a href=\"https:\/\/www.gobankingrates.com\/retirement\/planning\/how-to-catch-up-retirement-savings-falling-behind\/?hyperlink_type=manual&amp;utm_term=incontent_link_1&amp;utm_campaign=1322712&amp;utm_source=yahoo.com&amp;utm_content=1&amp;utm_medium=rss\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:smartest ways to make up for lost time;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">smartest ways to make up for lost time<\/a>.<\/p>\n<p class=\"yf-vbsvxt\">Starting to make a big push for retirement savings at age 50 isn\u2019t too late \u2014 but every year counts.<\/p>\n<p class=\"yf-vbsvxt\">\u201cIt\u2019s never too late to start prioritizing retirement savings,\u201d said Suzanne Ricklin, vice president of retention and sales at Nationwide Financial. \u201cHowever, the longer you wait, the harder it gets to close your savings gap, so there is no time like the present to get started.\u201d<\/p>\n<p class=\"yf-vbsvxt\">Ricklin recommended meeting with a financial professional to develop a <a href=\"https:\/\/www.gobankingrates.com\/retirement\/planning\/reasons-shouldnt-panic-if-off-track-retirement-savings\/?hyperlink_type=manual&amp;utm_term=incontent_link_2&amp;utm_campaign=1322712&amp;utm_source=yahoo.com&amp;utm_content=2&amp;utm_medium=rss\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:plan to get your retirement savings back on track.;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">plan to get your retirement savings back on track.<\/a><\/p>\n<p class=\"yf-vbsvxt\">\u201cA trusted financial advisor can help you look at your current financial situation to help you think about the best ways to adjust your savings habits and strategies,\u201d she said.<\/p>\n<p class=\"yf-vbsvxt\"><strong>Explore More: <a href=\"https:\/\/www.gobankingrates.com\/retirement\/planning\/why-americans-will-retire-broke\/?hyperlink_type=manual&amp;utm_term=related_link_1&amp;utm_campaign=1322712&amp;utm_source=yahoo.com&amp;utm_content=3&amp;utm_medium=rss\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:64% of Americans Aren\u2019t Prepared For Retirement \u2014 and 48% Don\u2019t Care;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">64% of Americans Aren\u2019t Prepared For Retirement \u2014 and 48% Don\u2019t Care<\/a><\/strong><\/p>\n<p class=\"yf-vbsvxt\"><strong>Read Next: <a href=\"https:\/\/www.gobankingrates.com\/saving-money\/savings-advice\/warren-buffett-things-poor-people-waste-money-on\/?hyperlink_type=manual&amp;utm_term=related_link_2&amp;utm_campaign=1322712&amp;utm_source=yahoo.com&amp;utm_content=4&amp;utm_medium=rss\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:5 Clever Ways Retirees Are Earning Up To $1K per Month From Home;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">5 Clever Ways Retirees Are Earning Up To $1K per Month From Home<\/a><\/strong><\/p>\n<p class=\"yf-vbsvxt\">After realizing retirement was closer than expected, many Gen Xers took action. According to Nationwide\u2019s survey:<\/p>\n<ul class=\"yf-h8k6hx\">\n<li class=\"yf-h8k6hx\">\n<p class=\"yf-vbsvxt\">40% cut discretionary spending<\/p>\n<\/li>\n<li class=\"yf-h8k6hx\">\n<p class=\"yf-vbsvxt\">34% increased contributions to retirement accounts<\/p>\n<\/li>\n<li class=\"yf-h8k6hx\">\n<p class=\"yf-vbsvxt\">23% sought professional financial advice<\/p>\n<\/li>\n<li class=\"yf-h8k6hx\">\n<p class=\"yf-vbsvxt\">20% explored new income sources<\/p>\n<\/li>\n<li class=\"yf-h8k6hx\">\n<p class=\"yf-vbsvxt\">19% shifted their investment strategy to reduce risk<\/p>\n<\/li>\n<\/ul>\n<p class=\"yf-vbsvxt\">\u201cThere is no one-size-fits-all solution for financial planning because everyone\u2019s retirement goals and financial circumstances are different,\u201d Ricklin said.<\/p>\n<p class=\"yf-vbsvxt\">However, she recommended many of the adjustments Gen X investors are currently making, including <a href=\"https:\/\/www.gobankingrates.com\/saving-money\/savings-advice\/rachel-cruze-quick-ways-cut-costs-even-if-you-love-spending\/?hyperlink_type=manual&amp;utm_term=incontent_link_3&amp;utm_campaign=1322712&amp;utm_source=yahoo.com&amp;utm_content=5&amp;utm_medium=rss\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:reducing discretionary spending;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">reducing discretionary spending<\/a>, increasing retirement contributions, seeking out professional financial advice and adjusting investment strategy as needed.<\/p>\n<p class=\"yf-vbsvxt\">\u201cIf you can save or invest more, you should \u2014 and an advisor or your workplace retirement plan can help you think about the smartest way to put that money to work based on your risk tolerance and retirement timeline,\u201d Ricklin said. \u201cIf you are running behind schedule on your savings, you may have to consider some trade-offs when it comes to spending on things you want versus things you need.\u201d<\/p>\n<p class=\"yf-vbsvxt\">Starting late doesn\u2019t mean you can\u2019t retire comfortably \u2014 but it does mean you should <a href=\"https:\/\/www.gobankingrates.com\/retirement\/planning\/is-it-ever-too-late-to-catch-up-on-retirement-savings\/?hyperlink_type=manual&amp;utm_term=incontent_link_4&amp;utm_campaign=1322712&amp;utm_source=yahoo.com&amp;utm_content=6&amp;utm_medium=rss\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:act fast to catch up;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">act fast to catch up<\/a>. The sooner you make these changes, the better your chances of closing the savings gap and enjoying the retirement you\u2019ve envisioned.<\/p>\n","protected":false},"excerpt":{"rendered":"The oldest members of Generation X are turning 60, so for them, retirement is no longer a distant&hellip;\n","protected":false},"author":2,"featured_media":271700,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[79,18,56145,19,17,138309,234,235,4036],"class_list":{"0":"post-271699","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-eire","10":"tag-generation-x","11":"tag-ie","12":"tag-ireland","13":"tag-nationwide-financial","14":"tag-personal-finance","15":"tag-personalfinance","16":"tag-retirement-savings"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115852404524853369","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/271699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=271699"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/271699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/271700"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=271699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=271699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=271699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}