Is It Too Late To Build Your Retirement Plan When You're 50? Dave Ramsey Says No - Here's How

Starting to save for retirement later in life can feel overwhelming, but financial expert Dave Ramsey assures that it's never too late to begin. With the right approach and smart financial decisions, it's possible to build a solid retirement fund, even in your 50s. For today's Money Making Moves, we find out exactly how... plus more: 

> The escalating legal battle between Bernard Arnault, Europe's wealthiest man, and Elon Musk over copyright issues has drawn international attention. Arnault, head of LVMH, is suing Musk’s social media platform X (formerly Twitter) for allegedly using content from his French newspapers, Le Parisien and Les Echos, without permission or payment. This high-profile case highlights tensions surrounding digital content rights, as Arnault and other French newspapers seek compensation under European copyright regulations established in 2019. With the trial set to proceed next May, the outcome could shape how digital platforms handle journalistic content and compensate publishers.

> Amazon is phasing out its Freevee streaming service, integrating its content into Prime Video to offer free shows like "Bosch" and "Jury Duty" to non-Prime members. The move is intended to simplify user experience while maintaining access to free streaming content through Prime Video. Speculation about potential layoffs at MGM Studios has surfaced, though no specific cuts have occurred within Freevee teams. Freevee, which launched as IMDb TV in 2019, struggled to establish a clear identity and faced competition with Prime Video, leading to its phaseout.

> Following Donald Trump's presidential win, TikTok CEO Shou Zi Chew notably stayed quiet, highlighting the platform’s precarious U.S. position as it faces a potential ban if ByteDance doesn't divest by January. While President Biden signed a law targeting TikTok, Trump’s previous opposition to banning the app suggests possible leniency, despite broader bipartisan support for the restrictions. Trump's stance could hinge on his dealings with Jeff Yass, a significant ByteDance investor, and political positioning. Meanwhile, Trump’s mixed views on Meta and TikTok show his complex social media strategy, balancing public influence and national security concerns.

E-waste has become a significant issue, with 6.9 million tons generated annually in the U.S., but only 17% is properly recycled due to limited disposal knowledge and services. An e-waste recycling business presents both a high-demand opportunity and a vital service to protect natural resources. Entrepreneur Kyle Landwehr has demonstrated success by turning his junk removal systems into a six-figure remote business through Junk Academy. This sector offers strong market potential, suitable for eco-conscious entrepreneurs, though it requires substantial startup investment and physical labor.

Seasonal remote customer service roles see high demand during holidays, with major companies like Amazon offering opportunities. These positions typically pay $10-$15 per hour, allowing workers to earn approximately $300 weekly for 20 hours of work. This hustle provides flexibility to work from home and extra income during peak seasons. It’s perfect for individuals seeking supplemental earnings without commuting.

> YouTube is enhancing collaboration between creators and brands by allowing creators in the YouTube Partner Program to initiate ad partnerships directly through the platform. This new system provides brands with valuable data on organic video performance and ensures creators can limit their content to approved advertisers. Creators can now actively seek out advertisers that align with their audience, improving monetization opportunities, including for Shorts. The feature offers transparent rights management and enables up to 300 Google Ads accounts to link with a single channel, streamlining partnerships and content usage rights. For reliable YouTube courses, check here. 

> A recent ONS report shows that remote workers enjoy more rest and slightly fewer work hours compared to office workers, gaining an average of 24 extra minutes of sleep and 15 more minutes of daily physical activity. Remote work, widely adopted during the pandemic, has evolved primarily into hybrid models, with managers twice as likely to work remotely as other staff. Major companies have reduced full-time remote work, leading to a rise in hybrid arrangements, now at 28 percent. The Civil Service and government remain divided over remote work's impact on productivity, while the Labour Party advocates for flexible work, emphasizing economic and well-being benefits.

> Financial expert Dave Ramsey emphasizes that it's never too late to build financial stability, offering hope to a 50-year-old widow looking to save for retirement after raising her children. He suggests saving and investing $1,000 per month for 15 years, which could yield nearly $500,000 by age 65, providing essential retirement security. Ramsey also recommends leveraging catch-up contributions in 401(k)s and IRAs to boost savings potential, noting that older Americans can contribute additional amounts beyond standard limits. For personalized guidance, hiring a fiduciary financial adviser is advised to create a tailored, risk-adjusted financial plan, with services like SmartAsset helping match clients with vetted experts.