What do you do if your retirement savings as a late career Product Marketing professional are insufficient?

Unfortunately, once you’re close to retirement date there are not many levers to pull. Consult an investment advisor and model out your options, but likely working longer or spending less in retirement are going to be on the table.

It's never too late to learn new money-making skills. And some investments pay back their original price many times over. For example, a good set of lock-picks can be had for around $50. Stealing things using said lock picks can yield enormous returns... we're talking well over 1,000% rates of return. Naturally, as someone familiar with investing, you'll know that high rates of return come with concomitantly high rates of risk. Another option that's less risky but more work is investing in a tin cup and a crudely-scrawled sign reading "Anything helps God Bless" and standing in a high-traffic area. Because the initial investment is so low, the rate of return can still be quite high.

I worked for over a decade in the financial industry and observed a lot of people failed to deal with their money. Most of their failures came from a single reason: They are too reckless with their money. They took high-risk investments and burned down their life savings. So, be conservative with your pension fund. If you are low in your retirement plan, consider saving more or making other incomes from freelance and part-time work.

Delaying retirement is likely to be one of the options you consider if you are short of your financial goals and near retirement. Consider something that provides insurance and that can close some of the gap while reducing the number of years where you will be drawing down your savings. This can be less than full time as long as it meets the above needs.

Because many product marketers have experienced short or long bouts of unemployment in the post-COVID years, delaying retirement is not an option but a necessity. Forge ahead.

It's never too late to start a business. As with any other profession, you'll make more money when you're more senior in your career. - Start a consulting business - Build a paid newsletter for specialists - Manage campaigns for small and startup companies as a freelancer. If you're good enough, you'll always find a way to make money from your expertise.

I don't live in the US so there is no pension investment plan in my country. However, I live in a third-world country where the living cost is so low that most people don't care about their post-retiring life. So if you're living in a first-world country, and facing a potential shortage of cash reserves for retirement, consider relocating to a low-cost country where your pension can give you a decent lifestyle.

consider these options as well: - Look for opportunities to supplement your income, such as part-time work, consulting, or freelance projects (Fiver, board roles) - If feasible, consider delaying your retirement to allow more time for savings to grow and reduce the number of years you'll rely on those funds. - Seek advice from a financial advisor who can provide personalized guidance based on your specific situation and help you develop a comprehensive retirement strategy.