Late starting financially — should I just give up?
Question: My wife and I had children late in life and the last one just left home. We now recognize that we are very late getting started with any kind of savings plan. I don’t see any way I can ever retire from working. Is it just too late for someone like me?
Answer: Too late for what?
If you are 55 years old, have saved zero and have a middle class lifestyle, yes, short of a miracle, it is too late for you to become financially independent by age 65.