58 and Broke: Don't Worry, You're Not Screwed! Well, Maybe Just a Little…


If you find yourself at the ripe age of 58 with a retirement fund emptier than your pockets after a Vegas weekend, congratulations! You’ve successfully entered the world of being royally screwed. But fear not, my financially challenged friends, because misery loves company, and we're here to provide you with a lighthearted and realistic guide to your pension-less future.

The Art of Denial

At 58, you've reached a stage in life where you can deny anything. Forget about retirement! Deny the existence of money, time, and maybe even gravity. With the right mindset, you'll be levitating all the way to the poor house.

But seriously, accepting your situation is the first step to figuring out how to move forward. Once you're done laughing (or crying) about your lack of retirement savings, take a deep breath and remember that it's never too late to start.

Suddenly, A Wild Budget Appears!

Welcome to the exciting world of budgeting! Who said spreadsheets aren't sexy? You're about to become intimately familiar with Excel, or if you're feeling adventurous, Google Sheets.

The key here is to track your income and expenses like a hawk stalking its prey. Identify any unnecessary expenses you can cut (yes, that means saying goodbye to your daily Starbucks fix) and find ways to increase your income. Freelance, pick up a side gig, or sell your kidney (just kidding, but seriously, don't). If you're married, congratulations – you now have a partner in crime to help you navigate the treacherous waters of late-stage retirement planning.

The Reverse Bucket List

You've heard of the bucket list – a compilation of all the amazing things you want to do before you kick the metaphorical bucket. But in your unique situation, it's time to think of a "reverse bucket list" – all the things you're willing to give up to make retirement possible.

Say goodbye to that luxury cruise, and hello to the SS Budget Saver (also known as your inflatable pool in the backyard). Embrace the idea of frugality – who needs a fancy car when you can have a bicycle? Maybe you'll end up being the fittest 58-year-old in your neighborhood. And who knows, perhaps your newfound lifestyle will inspire others to follow suit.

The Art of Procrastination, Reversed

You've spent a lifetime mastering the art of procrastination, but now it's time to do a complete 180. Remember when you used to procrastinate on doing your taxes? Now, you'll be the first in line to file them, hoping for a juicy tax return to bolster your nonexistent retirement fund.

Learn to embrace deadlines and make them work to your advantage. As the saying goes, "If it weren't for the last minute, nothing would get done." Apply this newfound urgency to your financial life, and you might just make it to retirement (albeit with less cushion than you'd hoped).

The Silver Fox Job Hunt

At 58, you're a silver fox, and it's time to show the world that age is just a number. With your wealth of experience (minus the actual wealth), you have plenty to offer the job market. Don't be afraid to change careers or take on a part-time job in a new field. Remember, you're only as old as you feel, so channel your inner 25-year-old and put yourself out there.

And while you're at it, consider negotiating a raise at your current job. It's time to put that silver tongue to good use and charm your boss into giving you a little extra cash for your golden years.

The Downsizing Dance

The waltz of downsizing can be a beautiful thing when executed correctly. It's time to Marie Kondo your life and keep only what truly brings you joy – and that doesn't include your 20-year-old collection of Beanie Babies. Sell off anything you don't need, and consider moving to a smaller, more affordable living space.

Think of it as a minimalist adventure. Gone are the days of excessive material possessions. Embrace the simple life and the extra cash it'll bring to your retirement fund.

Friends with Benefits (and Pensions)

Surround yourself with financially savvy friends who are prepared for retirement – and then milk them for advice. Attend their dinner parties, share in their wisdom, and learn from their successes (and mistakes). You never know when you'll pick up a nugget of financial genius to help you navigate your own retirement woes.

Plus, it doesn't hurt to have friends with extra guest rooms for when you're inevitably forced to downsize. Wink, wink.


Being 58 and broke isn't ideal, but it's not the end of the world either. With a healthy dose of humor and some strategic planning, you can make the best of your situation. So, chin up, dear reader. Embrace the challenge, learn from your past mistakes, and embark on this new adventure with a smile on your face.

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