finances
What to do with your portfolio after 50
A fiftieth birthday is often characterized as a milestone moment . Despite that reputation , upon crossing the half-century threshold , individuals typically don ’ t feel that much different than they did when they were still a fun-loving 49-year-old . Though there might not be much to distinguish a 49-year-old from a 50-year-old , a fiftieth birthday is a good time reassess certain parts of life , including finances .
Conventional financial wisdom has long suggested reducing risk as retirement age draws closer . But a 2021 survey from American Advisors Group found that 18 percent of respondents indicated their intention to work past the age of 70 , while another 12 percent indicated they have no plans to ever stop working full-time . Conventional financial wisdom rooted in retiring around the age of 65 may not apply to individuals who intend to work well past that age . That means recently minted fifty-somethings could benefit from adopting a new perspective on managing their money after they reach 50 .
• Work with a fiduciary . Fiduciaries differ from other financial advisors in a significant way . According to Investopedia , fiduciaries are legally bound to put their client ’ s best interests ahead of their own . Working with a fiduciary can provide peace of mind for individuals who want to know the person they ’ re trusting to guide their financial decisions is working on their behalf . That
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