If You're Behind on Retirement Savings at 50, Here's a Strategy That Could Help You Catch Up

By Maurie Backman – Mar 14, 2026 at 3:06PM ESTKey PointsIt can be hard to save for retirement during your 20s, 30s, and 40s.If you're staring at a shortfall at 50, take advantage of catch-up contributions.Prepare to get creative to free up that money.If your 50th birthday is approaching and you aren't happy with the amount of money you've saved for retirement, don't think you're alone. A lot of people end up in that boat for similar reasons. In your 20s, it may be hard to save because you're not being paid a whole lot and you're juggling student loans. In your 30s, child care costs could eat up the portion of your salary that could otherwise go toward retirement account contributions. And in your 40s, you might have your kids' college to pay for. Image source: Getty Images. The good news is that you're not doomed to retire with a savings shortfall just because you're behind now. But it's important to make the most of your remaining working years if you want your savings to get to a better place. And there's one strategy that could help you make up for lost time. Take advantage of catch-up contributions Once you turn 50, you get to make catch-up contributions in your IRA or 401(k). Those extra dollars can add up to a meaningful amount over time. Let's say you have an IRA. Savers under 50 can contribute up to $7,500 this year. But if you're 50 or older, you get to contribute an extra $1,100, bringing your total contribution to $8,600. Meanwhile, let's say you only have $50,000 saved as of age 50. If you put $8,600 into your IRA for the next 17 years, which would bring you to full retirement age for Social Security, you could end up with about $475,000 if your investments give you an 8% annual return. That's a bit below the stock market's average and a reasonable assumption over a 17-year period. Employer-sponsored 401(k) plans allow for catch-up contributions, too. However, those plans max out this year at $32,500 ($24,500 as the general limit and $8,000 as the catch-up limit). If you're sorely behind on savings come age 50, you may be able to max out an IRA at $8,600 a year. Maxing out a 401(k) at $32,500 is a whole other story. But that doesn't mean you can't try. Get creative to find the money It's not easy to come up with the funds to make catch-up contributions for retirement. But if you're behind, you may need to get creative to find the money. Some options include: Taking a side hustle or starting your own side business Renting out a room in your home, which may be possible if you have a separate finished basement or garage Cutting recurring expenses Taking staycations instead of a yearly vacation in another destination Then again, maybe you don't have to take these steps. At 50, you may be reaching your peak earning years. If your salary increases, you might manage to max out an IRA -- or even a 401(k) -- without having to work a side gig or slash too much spending. Being behind on retirement savings can feel discouraging. But just because you're 50 doesn't mean you've run out of time to build yourself a solid nest egg. The key is to prioritize retirement savings from this point onward.Read NextMar 14, 2026 •By Kailey Hagen, CFPThis Is Where I Start Saving for Retirement Every YearMar 14, 2026 •By Kailey Hagen, CFPYou're Beating the Average Retirement Saver if You Have More Than ThisMar 14, 2026 •By Maurie BackmanThis Retirement Account Lets You Avoid RMDs -- But There's a CatchMar 14, 2026 •By Kailey Hagen, CFPThis Possible Social Security Change Could Make Saving for Retirement Even HarderMar 14, 2026 •By Katie BrockmanRetiring Soon? Make This 1 Move Right Now to Protect Your Savings From a Stock Market CrashMar 14, 2026 •By Matt Frankel, CFPHow to Check Your Social Security Statement (And What the Numbers Actually Mean)About the AuthorMaurie Backman is a contributing Motley Fool retirement and Social Security expert with more than a decade of experience writing about personal finance, investing, and retirement planning. Maurie previously worked in finance analyzing distressed companies. She studied finance at Binghamton University.TMFBookNerd