Turning Fifty

Turning 50 makes many people start seeing life a little differently. For some reason, that half-century mark makes many people pause and either continue on in the same direction content and with conviction, or plot a whole new course. Whichever way you tend to lean, are you financially prepared?

Identify Needs
There are many financial needs to think about when turning 50, from starting to look a little closer at retirement, to making sure that you are doing all the things in life that you have set out to do. You also may be looking even further down the road at whether your estate planning issues and insurance needs are in order.

But before you do anything, stop for a moment. Don't even try to think about all of these situations at once. You've done a good job of planning for retirement so far, why not see if there aren't a couple of more things you can do to help ensure that you reach your goals?

The Big Picture
First things first - make sure your immediate needs are covered and that you have enough emergency cash on hand to cover you for at least three months. Then, think about your list of "things to do before I turn 50" and go for it. If you've always wanted a sports car or a boat, you might want to establish a plan for making that happen in the very near future.

At this stage of your life any children may have flown the nest! Has this free up money to help build up your retirement funds? Talk to your financial adviser about what that could mean for you at retirement. You might be surprised at the benefits.

Get Started
It's always important to consider your long-term goals. To learn more about how Edward Jones approaches your needs, click here. Then contact your local Edward Jones financial adviser, who will be happy to help you identify and prioritise your financial goals and track your progress toward achieving them.