Expert Advice: How to Secure Your Retirement Even if You Start Financial Planning at 50

A recent video by financial expert 'ahorroyproteccion' addresses a common concern for many: how to begin financial planning for retirement at age 50 with no prior experience. The expert, speaking directly to a viewer's question, emphasized several key steps for individuals in this situation.According to the expert, the first crucial step is to thoroughly understand one's current financial situation, including income, expenses, and existing savings. This foundational knowledge is essential for effective planning. He advised that once a clear picture of one's finances is established, individuals should define their retirement goals and determine the necessary capital to achieve them.The video highlights the importance of putting savings to work to generate returns. For those new to financial planning or lacking extensive experience, the expert recommended choosing simple, accessible, and flexible financial products. Crucially, he stressed the value of professional guidance, stating, "It's not about being the best at everything or knowing everything. It's about having the phone number of those who know what you don't." He encouraged viewers to seek support from expert financial planners.The expert concluded by emphasizing that combining sound decisions with professional accompaniment, discipline, and consistency is vital for success. He reiterated that starting early provides more time to adjust strategies, correct errors, and ultimately achieve the best possible retirement outcome.