Your 50s
Financial planning in your 50s: prepare and reassess
What women in their 50s ask me
- Can I leave my job early, or scale back, and still be OK?
- Are my savings and investments set up right for the next ten years?
- How do I pay for the travel and hobbies I've been putting off?
- My parents need help. What does that do to my own plan?
- My kids are grown. How much should I still be helping?
- I came into some money. Now what?
How planning helps in your 50s
- Planning for a career pivot, a promotion, early retirement, or scaling back.
- Making sure your investments are in the right accounts, with the right risk, and taxed as efficiently as possible.
- Reassessing the insurance that protects what you've built.
- Getting specific about the lifestyle you want and what it costs.
- Looking at Roth conversions and other tax moves in lower-income years.
Menopause is a money topic too
Menopause can change how you feel about work, risk, and patience, and plenty of women decide they're done putting up with things. That can be great for your finances, especially with a plan in place before you hand in a dramatic resignation.
We compare what you'll spend for the rest of your life with what your savings, Social Security, and any pension can provide, then test it against a few ways the future could go. The answer is usually a range of options with trade-offs, and we pick the one you can live with.
Maybe, and how you do it matters. Gifts, shared accounts, and moving parents in can all create tax and legal issues. We plan the support so it doesn't quietly derail your own retirement.
Comprehensive financial planning covers every area of your financial life. Retirement income planning is for women within a few years of retirement or already there, and it adds the work of turning savings into a paycheck.