According to a disturbing 2019 survey, 64% of Americans will retire with no money in their bank accounts. In addition, 46% of respondents have not saved anything for retirement, as reported in the annual Retirement Savings survey.

If you haven’t been a savvy saver yourself or what you’ve saved so far cannot give you the comfortable, worry-free retirement you’ve been dreaming of, perhaps it’s time to reconsider some of your ideas and beliefs about savings, investments and other retirement-related aspects.

From believing it’s too late to save for retirement to assuming Social Security will be enough to cover your costs of living in your golden years, here are some retirement myths that need to be debunked before it’s too late.

Myth 1: It’s too late to start saving for retirement

If you haven’t heard it by now, it’s never too late to do something that could increase your chances of success in the future. Sure, it’s better to start saving for retirement as early as possible, even though in your younger years it’s the least of your worries; but it’s also better late than never.

If you’re in your 50s, you are in your highest earning period and can probably afford to put some money aside for your nest egg. This brings us to these 12 crucial financial moves you also need to make once you enter your 50s.