Fabulous at 50: Not too late to start saving for retirement

HOUSTON – KPRC 2 is kicking off a week-long series, Fabulous at 50.

Whether you are in your mid-40s, around 50, or even a few years older, we are tackling all the big topics you'll be facing at your new age.

Did you know that the average level of debts among adults ages 50 and over is $6,511.71? And the average level of debts among adults ages 18-49 is $32,376.40 -- significantly higher.

Even with those numbers, only 9 percent of Americans ages 50 and older believe they are in excellent financial situation. But AARP Houston said 50 is not too late to start saving. Even if it's a little bit.

"Fifty is when we start being a little more aware about our own mortality of time passing. The children are going to college or have gone to college. We have a little bit more disposable income at 50. And this is time to get serious about it, about retirement," Marie Stien, AARP volunteer said. "There is still plenty of time to talk about it and plan for it." 

Here is a link to the AARP retirement calculator. It will you tell you how much money you'll need to retire when -- and how -- you want.