I'm Nearly 50 And Have No Retirement Funds Saved

And believe me, I'm really scared.

By
Published April 03, 2026
Margeaux Walter

$0.00

That is the amount of money I have saved for retirement. I know, it is really troubling. And before you say there is no excuse, there really is one — and it’s called life.

Married at 23, divorced at 31, left with nothing but a car worth $500, an addiction to alcohol and no job. I didn’t get a portion of his 401K, received no alimony, and wasn’t granted anything else in the divorce. I am not here to debate whether that was fair (or cry about the fact that it wasn’t). The truth is, I was deep into my alcoholism at that point and was not in a position to fight for myself or prove that I was deserving of what had been our assets. I take full accountability for that. My life was unravelling and so was I. 

During and post-divorce, I started working jobs with hourly wages, just scraping by. Even when I moved into salaried roles as an administrative assistant, money was scarce. Sometimes, more so. Some jobs did indeed come with a 401K and, yes, I even contributed the smallest amount possible in an effort to save for my future. But I lived paycheck to paycheck as I tried to care for my kids and myself on about $50,000 a year. Emergencies happened — the car needed breaks, or I needed a root canal — and I withdrew from that 401K just to survive.

Today, I am 12 years sober, 47 years old and finally living a little better than paycheck to paycheck. Still, I have no savings, no credit card and no retirement fund, and let me tell you, it is scary as hell. Finances are not my strong suit, girlfriends, and so I am not really sure what to do next. I have started working as a teacher and will be able to contribute to a retirement fund starting next year. I try to tell myself better late than never and even a little money set aside will help.

But the fear is overwhelming.

I can’t help but wonder, what will become of me? Are there other single women like me out there? Will I be bagging groceries or answering phones until the day I die? I often joke with my kids and ask which one will put me up in their basement when I am old, but clearly, that is the last thing I want to happen. 

When I was younger, my mother would talk about saving and retirement as if they were urgent. Later, my ex-husband would do the same. Naturally, I waved them off in my carpe diem style. Retirement felt like it was a world away, and somehow I thought future-me would handle it. Or maybe I thought my husband (now my ex-husband) would handle it. And then I blinked and woke up at 47 years old with no credit card, no savings, and no assets. But you know what I do have? Life experience. Sobriety. Love. And a more realistic attitude about money than 20-year old me did. I finally know what my mom and ex-husband were talking about.

Sometimes it feels like it is too late. And then I remember that that is kind-of how I roll. I don’t do well with traditional timelines, and I never have. I got sober at 35. Finally began to love myself at 40. Discovered my dream job (or two) at 43. Found the love of my life at 44. And now, at 47, I am no longer living paycheck to paycheck. My success in life is measured by progress and not perfection, and I am so proud of my progress in recent years. Does that make my financial situation any less scary? Nope, not at all. But I have learned that scary doesn’t mean impossible. And if I learned anything in the last few decades, it’s that a lot can change in a little time.

I know it’s cliché to say “it’s never too late,” but I am living proof that timelines can bend. I will start saving one dollar at a time with gratitude for what I have now- what I have now that I once didn’t. And if you are reading this with little to no savings in midlife, know that you are not alone. You are not too late.

This is just the beginning, girlfriends.

Suzanne E. Hayes is a freelance writer based in Simsbury, Connecticut, where she’s raising three children and finding plenty of real-life inspiration along the way. Her work explores family, identity, and the beautifully messy moments of modern womanhood. Suzanne’s writing has appeared in Working Mother, Woman’s World, Kveller, Guideposts, Under the Gum Tree Literary Magazine, and more. With honesty and heart, she brings stories to life that resonate long after the last line is read.