Aug 11, 2025
Let’s face it — your 50s can be a great decade. By this stage, many people are earning more than ever after decades of building skills and experience.
You might own a home, be an empty-nester, and have a growing retirement fund.
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But that’s not the case for everyone. Some reach their 50s with little savings, adult children who still depend on them, or significant debt that’s hard to shake.
If you’re approaching this milestone, here are five crucial things to stop doing now to stay on track for a secure retirement.
1. Carrying high-interest debt
Being free of high-interest debt in your 50s is almost always a coin toss. Nearly 52% of adults aged 50 to 64 carry credit card debt, according to AARP data from March 2025.
High-interest debt can slow your financial progress at any age, but it’s especially damaging as you approach retirement age. Paying it down quickly should be a top priority in your 50s.
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2. Underutilizing catch-up contributions
Turning 50 unlocks the ability to make catch-up contributions to your retirement accounts.
In 2025, the IRS allows individuals aged 50 and older to contribute an extra $7,500 to most 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan.
This added contribution room lets you boost your retirement savings and make up for earlier shortfalls. Neglecting this opportunity could be a costly mistake.
3. Investing too aggressively
Even if you’re over 50 and still have the same risk appetite as in your younger years, your capacity to take on risk is naturally lower due to a shorter time horizon.
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In other words, you simply don’t have time to wait for a volatile cryptocurrency or unproven tech startup to pan out and deliver returns.
Now may be a good time to diversify part of your portfolio into more stable, income-generating assets like real estate, dividend-paying stocks, or bonds.
Read More: Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
4. Supporting your adult children
About 50% of U.S. parents with adult children provide them with some level of financial support, according to Savings.com. On average, the support totals $1,474 per month — a significant portion of a typical parent’s income.
While it’s hard to say “no” to your loved ones, especially if they’re struggling with rent or job insecurity, it can be just as difficult to face those challenges yourself later in life if you haven’t saved enough for retirement.
Your 50’s may be the right time to have an honest conversation with your adult children and start prioritizing your own long-term financial well-being.
5. Neglecting your health
Many Americans underestimate how expensive medical care can be later in life. Healthcare costs continue to rise, and the likelihood of facing medical issues increases with age.
While you can’t eliminate the risk entirely, you can reduce it by taking steps to improve your health. Regular check-ups, a balanced diet, and consistent exercise in your 50s can help lower your chances of serious health problems in your 60s and beyond.
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Vishesh Raisinghani is a financial journalist covering personal finance, investing and the global economy. He's also the founder of Sharpe Ascension Inc., a content marketing agency focused on investment firms. His work has appeared in Moneywise, Yahoo Finance!, Motley Fool, Seeking Alpha, Mergers & Acquisitions Magazine and Piggybank.
