AAA<\/p>\n
Turning 50 is one of life\u2019s greatest milestones, and it can also be a great time to take stock of what the future holds \u2013 especially if you\u2019re not sure how (or when) you might be able to retire. By taking a few simple, informed steps, you can spend your 50s enjoying life instead of worrying about your future finances.<\/p>\n
![\"Your](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/40eb575ca925719255a8a92347ee41a3a4f4896df21984a90f8b60fb179b1bdb.jpeg\")
Your 50s are a great decade to start planning.iStockIt\u2019s never too early to start<\/p>\n
Whether it\u2019s speaking to a financial planner or making the most of free resources like Moneysmart, an Australian Government service that simplifies money decisions with independent tools and information, your 50s can be a good time to start planning your retirement.<\/p>\n
According to Kimberley, 53, entering her sixth decade came with a side of financial empowerment she\u2019d never experienced before.<\/p>\n
\u201cI saw a financial adviser in my 20s, but life got in the way, and I didn\u2019t see the value in the money I was spending back then,\u201d she admits.<\/p>\n
After celebrating her 50th birthday, a series of small events inspired Kimberley to get serious about her retirement plans.<\/p>\n
\u201cMy children were moving out of home, my work was changing and my parents\u2019 health had started to decline,\u201d she explains.<\/p>\n
\u201cI had to start asking questions about my mum and dad\u2019s finances, which I had never done before, and I realised they were in quite a good position thanks to their super investments.\u201d<\/p>\n
Armed with this insight, Kimberley, who works as an executive manager for an insurance firm, started to reflect on what she wanted her retirement to look like and what age she might realistically be able to retire.<\/p>\n
\u201cI knew if I didn\u2019t get my act together, I\u2019d still be working at 70, so I began researching everything I could about superannuation,\u201d she says.<\/p>\n
Small changes, big gains<\/p>\n
The first step she took was downloading her super fund\u2019s official app. \u201cI hadn\u2019t looked at my super balance for a very long time, so I wanted quicker and easier access to my account,\u201d she explains. \u201cAfter that, I set up a free meeting with my fund to talk about my super and to better understand my portfolio.\u201d<\/p>\n
While the meeting was informative, it left Kimberley with more questions than answers about what she should do next. In fact, the more she researched, the more confused she felt \u2013 until she came across the Moneysmart superannuation calculator<\/a>.<\/p>\n \u201cBeing able to see how much super my husband and I would have at retirement compared to how much we\u2019d actually need was really enlightening,\u201d Kimberley explains. \u201cIt forced us to think about different scenarios, such as what retirement would look like if we still had a mortgage and also encouraged us to consider how realistic our lifestyle and savings goals were.\u201d<\/p>\n After deciding she\u2019d like to retire at 63, Kimberley began making small changes to maximise her super balance. \u201cOne of the first things I did was search for missing super for both myself and my husband,\u201d she explains. \u201cWe\u2019d both had other jobs in the past, and we realised those super accounts were being eaten away by fees.\u201d<\/p>\n After checking if she\u2019d lose any benefits by bringing all her super accounts together, she decided to consolidate. Next, she started making extra small contributions to her super \u2013 with the aim being to grow it faster. She also chose to meet with a financial adviser to go over her budget and future plans.<\/p>\n \u201cI have an investment property, and while I could sell that and take care of my mortgage, we realised it would be better for me in the long term to keep working for the next 10 years,\u201d she explains.<\/p>\n Although she loves her job, Kimberley says she\u2019s looking forward to retirement now that she\u2019s more engaged with her finances. \u201cTurning 50 was the best time to start thinking about my super,\u201d she says. \u201cI really needed to look at the bigger picture because I don\u2019t want to miss out on anything in the future. I want to travel, spend time with our grandkids and actually enjoy life.\u201d<\/p>\n While she admits she hasn\u2019t yet reached her retirement savings goal, Kimberley notes she\u2019s in a much better position now than she was before entering her 50s. \u201cI feel so much more knowledgeable,\u201d she says. \u201cI can share my learnings with my sons, and I can ask informed questions about how to take my super even further. This next chapter isn\u2019t daunting. It feels exciting because I know a comfortable retirement is achievable.\u201d<\/p>\n Ready to make sense of your retirement? Visit the Australian Government\u2019s Moneysmart<\/a> website. It offers free, independent, easy-to-use tools and resources to help you to understand your options and make more informed decisions.<\/p>\n Any advice provided in this article is of a general nature. This information does not take your personal objectives, financial situations or needs into account. You should consider its appropriateness to your circumstances before acting on this information.<\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n