This post was written as part of the M-Network’s Money Matters for All Ages project. See the bottom of this article for the full list of participants and links to their articles. Please check back daily as I will update the links as new articles are posted! Also, if you are blogger and would like to join into the discussion, feel free!

You’ve made it into your 50’s, survived all of your turbulent 20’s and 30’s and calmed down a bit in your 40’s. Now’s the time to start thinking post-job activities.

The Financial Picture

You should be hitting the retirement funds with as much as possible to max them out. You also get to start putting away a little more now that you weren’t able to while in your 40’s. Don’t forget to take advantage of that too. The idea is to squirrel away enough to let you live how you want, after you tell your boss ‘goodbye’.

If you’re turning 50 this year, that also means that Social Security will probably be around for you, in some form or another. If you can afford it though, it might not be a bad idea to exclude it from your financial picture for now. There’s still a lot of time between retirement and now that something could change. If you don’t add it into the picture, you won’t be as adversely affected if it’s gone/reduced. If not, you’ve got a windfall of extra money.

It’s also time to simplify the life even further. The kids should be getting ready to get out of the house, and you may be left with a huge living space that no longer appeals to you (no laughter of kids, too much space to clean, live in a too cold/too hot/not nice area, etc). It’s ok to objectively think about where you might want to live.

Alternatives to Staying Put

A good friend of mine that is retiring soon has decided to ’see the countryside’. They have sold their house, and used the proceeds to buy a BIG motor home (the reconditioned bus kind). They are planning on touring the country on a continuous basis, while still working a little on the side doing jobs that don’t have location specific requirements. The money isn’t the primary motivator, but a little ‘extra’ to carry them along.

In the meantime, they get to go and live where the fancy takes them, in fairly substantial luxury.  

The Family Picture

Unless you started the family particularly late in life, your nest should be emptying out soon. Kids move on to college/a job/life and you can sit back and bask in the glow of successfully raising another adult.

Or can you?? If you have some kids that don’t show any indications of leaving the nest anytime soon, it’s time to start kicking a little butt. There are many societies where the extended family is accepted and welcomed. It’s not a bad thing to have multiple generations under one roof. But everyone needs to have the time and opportunity to make their own way in life. They need to see more of the world than just their bedrooms.

If your kids are having problems money-wise, they aren’t going to get any better until they confront and overcome them, otherwise they just ferment in your house, not getting the ‘hard knocks’ education they need to successfully confront life’s problems. Shielding your children from problems isn’t doing them a favor, and someday you won’t be here to do that. They should be able to fend for themselves in that circumstance.

That doesn’t mean you kick them out the door and slam it after them. Work with them on a strategy to get them up and going. Don’t re-enact "Failure to Launch" if you can help it.

Most Importantly, Your Picture

Keep in mind, this is your life and your retirement, you’ve worked hard for it and you should enjoy it. Find things you want to do, and DO THEM. There’s no time like the present to find new and interesting things to see and do. Do something you NEVER THOUGHT YOU’D DO. Go someplace you NEVER THOUGHT YOU’D GO TO. This is the time to explore those new vistas and activities you’ve always read about.

You’re only as young as you let yourself be, so get out there and BE YOUNG.

I hope you enjoyed this article. Here’s are the other articles in the Money Matters for All Ages series:

• Introduction: Financial Strategies for Infants and Young Children @ My Dollar Plan
• Preschoolers: Teaching Preschoolers About Money @ I’ve Paid for This Twice Already
• Children and Pre-Teens: Personal Finance for Children and Pre-Teens @ Being Frugal
• Teenagers:
  • Teach Your Teen the Basics of Money Management @ Gather Little by Little
  • Money Advice to My Teenage Son @ DebtFREE-Revolution
• College Age: College Money Matters @ Mrs. Micah
• The Twenties:
  • Money Matters for All Ages – The 20’s @ Cash Money Life
  • Financial Advice For Your Twenties @ Remodeling This Life
• The Thirties:
  • Money Matters for All Ages – The Chaotic Thirties @ Moolanomy
  • Personal Finance Advice For Your 30’s @ My Two Dollars
• The Forties: The Forty Year Old’s Wakeup Call @ Credit Withdrawal
• The Fifties:
  • You’re in Your 50s – Wake Up and Start Saving @ Millionaire Money Habits
  • Retirement Objectives in Your 50’s @ Credit Withdrawal
• The Sixties: Easing into the Golden Years- the 60’s and Beyond @ Chance Favors
• Retirement:
  • 4% Withdrawal Rule for Retirement @ Quest For Four Pillars
  • retirement in the UK @ Plonkee Money
• Wrap up and highlights: Money Matters for All Ages: The Complete Guide @ My Dollar Plan

Pictures Source – Garbage Truck Camper

Update

Friends of CW sites you might like also.

• Miss Mota Mouth – Spoiled? Car Debt and What it is Costing Our Parents