‘I had hoped to be retired’: 66-year-old still works 11-hour days with zero savings. Here’s how you can avoid this fate

Core Insights - Nearly half of Americans approaching retirement have no savings, highlighting a significant financial planning issue [1][2] - The trend of older Americans working into retirement is increasing, with approximately one in five Americans aged 65 and over employed in 2023, nearly double the figure from 35 years ago [4] - Financial tools and apps like Rocket Money and Acorns can assist individuals in tracking their finances and investing spare change, which can contribute to retirement savings [7][9] Group 1: Retirement Savings Statistics - Data from the U.S. Census Bureau indicates that nearly 50% of U.S. women aged 55 to 66 have no personal retirement savings, with the figure at 47% for men in the same age group [2][3] - Only 43% of American adults can manage an unexpected $1,000 expense with their savings, indicating a lack of financial preparedness [12] Group 2: Financial Tools and Strategies - Rocket Money offers features for tracking subscriptions, bills, and budgeting, which can help users manage their retirement contributions [7] - Acorns allows users to invest spare change automatically, which can accumulate over time and contribute to retirement funds [9][10] - Establishing an emergency fund is crucial for financial security, with recommendations to save enough to cover three to six months of living expenses [13] Group 3: Investment Options and Advice - Investing plays a key role in retirement planning, with various options such as stocks, bonds, ETFs, and mutual funds available, each with different risk levels [16][17] - Platforms like SoFi and Moby provide resources for self-directed investing and expert advice, respectively, helping users make informed investment decisions [18][20] - Gold investments, particularly through Gold IRAs, are suggested as a hedge against economic uncertainties, with forecasts indicating potential price increases [22][23]