Talk about going out on top: Daniel Day-Lewis announces his retirement. He is immensely grateful to all of his collaborators and audiences over the many years. This is a private decision and neither he nor his representatives will make any further comment on this subject,” his spokeswoman said in a statement to Variety. Day-Lewis, 60, has had an enviable career and appears to be retiring at the top of his game. He won three best-actor Oscars, one for “My Left Foot,” another for “There Will Be Blood” and the third for “Lincoln.” He earned two other Academy Award nominations for “Gangs of New York” and “In the Name of the Father.” He’s known for his method acting, inhabiting a role completely while working on a project. For example, while shooting “Lincoln,” he spoke in Abraham Lincoln’s voice even when the cameras were off; for “Last of the Mohicans” he learned to build a canoe and skin animals; and for “The Boxer” he learned to box, according to a 2012 New York Times profile. Has anyone checked to make sure Daniel Day-Lewis isn't preparing to play the role of an actor who retired as the best actor alive? — David S. (@AE_DavidS) June 20, 2017 His last film will be “Phantom Thread,” which takes place in the 1950s in the world of London fashion and is directed by Paul Thomas Anderson. It will be released Christmas day. Day-Lewis has a reported net worth of $50 million, according to Celebritynetworth.com, which puts him well ahead of most people when it comes to financial security in retirement.
In this segment from Motley Fool Answers, Alison Southwick and Robert Brokamp break down a proper investing and retirement strategy by decade. Now in your 50s, your career is leveling out. You have a lot of life experience to guide you, and retirement is looming over the horizon. The Foolish advice for this decade is clear: Take full advantage of the higher limits on your tax-advantaged retirement accounts; don’t waste the extra cash you have now that the kids are paying their own way; and really start doing some advance calculations about what you’re going to need in retirement. The team also warns of a money mistake people make in their 50s that is becoming increasingly common.
A full transcript follows the video.
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This podcast was recorded on April 18, 2017.
Alison Southwick: Your 50s are an exciting time. You’re reaching cruising altitude in your career. The kids, who also work in your office, perplex you, but that’s fine if they think you’re the old, wise one in the office because you’ve learned the coolest thing you can do in life is not care what other people think about you. I’m looking forward to my 50s, I think, for that reason. So what should be your priorities in your 50s?
Robert Brokamp: Well, it’s the time to do some great retirement saving.
Southwick: I said it was an exciting time.
Brokamp: So take advantage of the higher retirement account contribution limits. For example, this year if you are not 50 and older, you can only contribute $18,000 to a 401(k) or…