A No-Nonsense Pep Talk for Women in Their 50s: Financial Moves to Make Now

If you're a woman in your 50s, here's a no-nonsense pep talk on what you need to do financially right now. I'm Tyler, a former financial advisor and portfolio manager. Now I make financial content for free, so you don't have to pay for it.

1. Start Today, Not Someday

Women, on average, start investing later than men, which means less time for compound interest to work its magic. So open a brokerage account today via Fidelity, Schwab, or Vanguard, and just get started.

2. Invest Automatically

Set up a transfer of $100 a week into a low-cost ETF like VTI or VOO. These are low-cost funds that quietly build wealth while you're living your life. Keep this going until you're 70, and you'll have about a half million reasons to thank your current self.

3. Talk About Money Out Loud

Research shows that women who talk about money earn more and invest more. So treat it like a book club topic that actually changes your life.

4. Plan for Time Out of the Workforce

Women spend, on average, 30% to 40% more time out of the paid workforce. So if you're a stay-at-home mom, A, keep crushing it, and B, make sure your resume is polished and your skills are current.

5. Save a Little Extra

Men are told to save 10% of their paycheck; you need to save 15%. You live longer, have less in your retirement account, and on average, you still get paid less.

6. Upgrade Your Cash Game

If your savings account is still earning 0.4%, that's not saving, that's hibernating. Move your cash to a high-yield savings account or a money market fund and earn closer to 4% to 5% on your cash.

Conclusion

You don't need perfect timing, just a consistent plan. Do this once, automate it forever, and then go back to more important things like living your life. If any of this is helpful, sign up for my free weekly newsletter by clicking the link in my bio. Each week, I'll send you over another money playbook that actually works.

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