Turning 50? Here Are 3 Things You Must Do Now
Turning 50 is a big deal -- and not just because you've lived for half a century. Many people hit the peak of their careers around the age 50, having maximized their earnings and established strong business relationships. Many parents turning 50 have already seen their kids grow up and leave the home, freeing up a lot of money to save for their own financial needs.
That doesn't mean it's time to make huge changes to your long-term investing strategy, but it is a good time to start thinking about the changes you'll need to make as retirement draws near. Here are three ways to take greater control of your financial future as you enter your 50s.
The most important thing you need to do when you turn 50 is to get serious about your long-term financial needs. It's easy in your 20s and 30s not to think about far-off things like retirement, and even in their 40s, many investors have competing financial needs that make them put off retirement saving. Yet if you're looking to retire at 65, then 15 years isn't a lot of time put together a viable retirement nest egg.
Source: Fool.com
