So, how to start saving for retirement at 45? Well, there are man ways you can save for when you retire, but I’ll only share one, and that is starting your very own business.
Are you starting to save for retirement late because you were trying to pursue the academic qualifications or other reasons that can disturb your retirement, Ph.D. or MBA are things that can come in handy? The things that you have learned can be used to do a business of your own.
They won’t be needed, if you have the skill or even the talent which you can use to make income, think about making and running your very own business while you are still working that regular job of yours. You will be able to get more income and will allow you to create and also fund your retirement plan from your own business.
This something that every person can do, and it is the best way you can start saving for your retirement if you are in your 40s. You can start a business with what you love to do. It might not flourish, but if it gets you through life, then keep that business, you can maybe even pass them on to your kids.