Managing your finances in your 50's


Typically, people tend to hit their stride in their 50's.  The mad dash to the top has leveled out.  The youthful exuberance in spending has been tempered.  The kids have started to move on with their lives.  This is a time when temptations run high to give yourself those "luxuries" that were forsaken for the kids ballet lessons,  the minivan, and summer camps.   Too often, couples falter just short of the finish line during this time.  All the discipline that got you to where you are gets relaxed.  Keep focussed, your retirement years are just barely ahead of you.  You will need those savings.

Cautions


  1. Don't quit prematurely, your savings need to cary you through your retirement for another 2 or 3 decades.
  2. If you decide to branch out on your own, entrepreneurial style, this tends to be safe years to do it in with the experience and knowledge you have gained, but be sure to have a safety net, at least a year of living expenses and lots of insurance.






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