Core Insights - The best investment strategy for retirement is to start saving early and consistently, but there are actionable steps for those who begin later in life [1] Group 1: Strategies for Late Starters - Financial experts recommend immediate actions for those starting to save later, including debt management, budgeting, and tax strategy [2][7] - A significant sacrifice is often required for late starters to avoid financial difficulties, with an example of a 52-year-old needing to save approximately $2,650 monthly at a 6% return to reach $750,000 by age 67 [4] - The savings rate should be a percentage of gross income rather than fixed dollar amounts, with recommendations of saving 20% at age 45 and 33% at age 55 [5] Group 2: Prioritizing Savings - Prioritizing retirement accounts is crucial, starting with employer 401(k) contributions up to the match, and considering non-qualified accounts for additional savings [6] - Developing a budget is essential to understand cash flow and eliminate unnecessary spending [7]