Life Money Balance® Podcast
The Life Money Balance® podcast helps you “let your life lead your money, not your money lead your life” and engage with your journey to create your life's design. The podcast uses compelling conversations that combine money psychology with personal finance topics to improve your well-being and achieve your life aspirations.
Your host Dr. Preston D. Cherry (“Dr. Cherry”), interviews guests and performs solo shows to provide an emotion-safe space where real people engage in real talk and share authentic moments. Let’s chop! Learn more by following @drprestoncherry, Certified Financial Planner, Certified Financial Therapist, University Professor, and Founder & President of Concurrent Financial Planning, www.concurrentfp.com.
Life Money Balance® Podcast
How Much Should You Have Saved for Retirement by 40, 50, or 60?
In this episode, Dr. Preston Cherry breaks down key retirement savings benchmarks for your 40s, 50s, and 60s. He explores the emotional challenges of saving—like anxiety and comparison—and shares practical tips to build financial freedom. His advice? Adjust your lifestyle, diversify income, and stop procrastinating. Stay focused on your own financial journey and take action now.
Key Points:
• Savings benchmarks: 3x salary by 40, 6x by 50, 6-8x by 60
• Gen X median retirement savings: $100K
• Life is uncertain—plan accordingly
• Save more without sacrificing lifestyle
• Procrastination hurts financial progress
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Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/