Let\u2019s face it \u2014 your 50s can be a great decade. By this stage, many people are earning more than ever after decades of building skills and experience.<\/p>\n
You might own a home, be an empty-nester, and have a growing retirement fund.<\/p>\n
But that\u2019s not the case for everyone. Some reach their 50s with little savings, adult children who still depend on them, or significant debt that\u2019s hard to shake.<\/p>\n
If you\u2019re approaching this milestone, here are five crucial things to stop doing now to stay on track for a secure retirement.<\/p>\n
Don’t miss1. Carrying high-interest debt<\/p>\n
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<\/a> from March 2025.<\/p>\n High-interest debt can slow your financial progress at any age, but it\u2019s especially damaging as you approach retirement age. Paying it down quickly should be a top priority in your 50s.<\/p>\n 2. Underutilizing catch-up contributions<\/p>\n Turning 50 unlocks the ability to make catch-up contributions to your retirement accounts.<\/p>\n 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\u2019s Thrift Savings Plan.<\/p>\n This added contribution room lets you boost your retirement savings and make up for earlier shortfalls. Neglecting this opportunity could be a costly mistake.<\/p>\n 3. Investing too aggressively<\/p>\n Even if you\u2019re 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.<\/p>\n In other words, you simply don\u2019t have time to wait for a volatile cryptocurrency or unproven tech startup to pan out and deliver returns.<\/p>\n 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.<\/p>\n Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.<\/a><\/strong><\/p>\n 4. Supporting your adult children<\/p>\n