Rich At Any Age - Your 50s
We are getting closer to the end of the series, Rich At Any Age - A Life Cycle Guide To Personal Finance. So you made a decision on how to live your financial life in the 40s. But that’s nothing compared to crossing the big FIVE-OH. Living half a century is something to be proud of, but are you planned and ready for the next half? What do you need to know? Let’s find out!
Show Time
By the time you reach your 50s, you’ve got a lot to look forward to. Suddenly retirement, which once seemed as far away as Pluto, is coming within reach. It’s time to start thinking about when you can stop working — or at least when you can slow down and ease into retirement. If you’re no longer supporting kids and plunking down mortgage payments every month, you’ll also be able to start enjoying your money — that dream of hosting family gatherings at your own lakefront cottage could become a reality.
Of course, life can throw you a curveball at any time, and you may wake up to find one of your kids has moved back home just after you converted her old bedroom into an office. And what if, heaven forbid, you haven’t saved enough for retirement yet? There’s still time to catch up, though you’ll probably need to make a few sacrifices. Here’s how to get on track to make sure you can afford the lifestyle you want in your golden years.
Related MoneySense Articles
- Quitting Time - Susanne Ruder
- Saving Race - Camilla Cornell
- Cottage Ease - Allan Britnell
- Welcome Back Daughter - Gabrielle Bauer
The series comes to a conclusion tomorrow when we talk about your 60s. Come on back for more personal finance editorials!
Related Posts:
