Susan, a 57-year-old in Florida, admits on The Ramsey Show she never thought about retirement. Despite a modest savings and small IRA, she seeks advice on catching up. Ramsey recommends saving 15% of her $50,000 income in a Roth IRA for a potential $1 million by 77.

Many Americans fall behind on retirement savings due to various reasons like job loss or medical debt. Kiplinger reports the median retirement savings for Americans aged 55-64 is $185,000, far below recommendations. Susan, with $57,000 saved, is ahead of 28% of non-retired adults with no retirement savings.

Ramsey advises Susan to clear debts, rebuild her business, and automate savings. Starting late doesn’t mean starting from zero, as consistent savings can grow significantly over time. The most dangerous trap for late starters is giving up entirely, but even modest savings can improve retirement outcomes.

Join 200,000+ readers for more insights. It’s never too late to start saving for retirement. Ramsey emphasizes taking action today, focusing on what can be done now rather than dwelling on past mistakes. Remember, it’s rarely too late to secure a comfortable retirement with the right strategies.

Read more at Yahoo Finance: Is 57 too late to start saving for retirement? Dave Ramsey says ‘of course not’. What to do now to build nest egg