Starting at 40 in the US
01.A Sense of Urgency
Relocating in your 40s means you have fewer years to compound your retirement savings in the US than someone who started in their 20s. While this requires a sense of urgency, it is absolutely not too late to build a comfortable retirement nest egg.
02.Higher Savings Capacity
Grown-ups in their 40s often have higher earning power and more professional experience than younger workers. By maintaining a controlled cost of living and maximizing your savings rate, you can make up for lost time quickly.
03.The Power of Catch-Up
The IRS allows workers aged 50 and older to make extra contributions (catch-up contributions) to retirement accounts above the normal limits. Plan to take advantage of these rules as you approach 50.