As we approach our golden years, securing financial freedom and a comfortable retirement starts becoming more important.
image via stokking on freepik


Today on the blog I have a really interesting collaborative article on how to begin preparing for a financially secure retirement. I remember that finances were my biggest concern when I decided to leave my job, and knowing that we had sufficient funds to get us through the years ahead was the deciding factor on permanently retiring and getting to enjoy this new lifestyle.

So without further ado, let's launch into some interesting tips that I hope you find helpful and encouraging....


As we approach our golden years, securing financial freedom and a comfortable retirement starts becoming more important. And if your responsibilities are burdened by family and health, it can feel near-impossible to build money.

Fortunately, there are tangible steps that you can take to pave the path towards a fulfilling retirement. Ladies, read on to learn six practical tips aiming for financial independence after 50 years of age.


As you approach the age of retirement, it is imperative for you to reassess your retirement plan and ensure that reality aligns with your goals. And if you have yet to come up with one, it’s time to start getting serious about it.

Set clear your retirement goals by defining your ideal retirement lifestyle and your financial needs.

While your responsibilities may dwindle as you age, your active income stream will eventually fall. As such, you should continue saving towards your retirement while you’re employed. 
Track all your assets, debts, and savings, and calculate your net worth—this helps you better understand your retirement savings accounts.

Some additional factors to consider when retirement planning include potential healthcare costs and care insurance. 

You should also consider your desired retirement age, housing preferences, and current investment vehicles.


If you’re lagging behind your savings goals, then it’s essential that you find ways to boost your capital. Fortunately, there are many ways in which you can diversify your investments and income, even if you’re above 50. 
That said, you should avoid looking into aggressive and risky investment choices, like cryptocurrency and P2P lending. 
Some decent ways to increase your income include investing in dividend-paying stocks in the ASX, 
starting a small business or side venture, investing in government bonds, taking up part-time work, or investing in mutual funds and REITS. 
These avenues can all help in bolstering your savings figure. That said, you should consider doing your own research on which investment and income diversification strategy is right for your specific situation. 
Consulting a financial advisor or reading up on some financial resources like a savings calculator 
here can be a good start.


In today's rapidly evolving world, lifelong learning and upskilling are crucial to maintaining relevance in the workforce. For women above 50, investing in continuous education and skill development helps career prospects, and fosters growth and empowerment.
For instance, joining workshops, seminars, and conferences can help you stay relevant to your industry. It also helps you create valuable networking opportunities that can facilitate knowledge exchange and advance your career.
On top of that, embracing the power of technology is also something you should do in today’s landscape. And if you’re intimidated by the fast-paced nature of tech, don’t worry, many online resources exist for older adults.
Lastly, and perhaps most importantly, is to adopt a positive mindset towards learning. Don’t be afraid to embrace challenges and learn from setbacks. While the brain may be less flexible when you’re older, it’s not completely out of shape.


Superannuation is vital when planning for retirement. To have a secure retirement, familiarise yourself with the basics of superannuation, including how it works, contribution limits, and taxes. Keep abreast of changes to regulations and policies affecting your contributions.
Once you’ve covered the basics, ensure you're receiving the maximum employer contributions and try negotiating salary sacrifice arrangements with your employer to boost contributions while reducing taxable income.
You can also explore opportunities to make voluntary contributions to your super fund via personal contributions or spouse contributions. Take advantage of concessional (before-tax) and non-concessional (after-tax) contribution options to maximise tax advantages.


Debt can be a powerful tool when managed effectively, enabling us to achieve goals like homeownership, education, or business expansion. However, it’s essential to approach debt management with care and strategic planning to reduce financial strain and maximise benefits.
Start by evaluating your existing debts, including outstanding balances, interest rates, and repayment terms while understanding your total debt and its impact. Identify debts with high interest rates, like credit card loans, and prioritise their repayment.
Also, avoid using credit cards or taking on new loans while focusing on debt repayment to avoid incurring new debt. Regularly monitor your credit score and credit report.
Lastly, establish an emergency fund to cover unexpected expenses and prevent reliance on credit during financial emergencies. Aim to accumulate three to six months' worth of living expenses in a liquid savings account to provide a financial safety net.


Passive investment channels offer a hands-off approach to allowing individuals to grow their money with little effort and time commitment. Whether you're a novice or a pro, passive investment channels can be powerful for building long-term wealth. 
Start by learning about the concept of passive investing—buying and holding assets to track the performance of a market index or portfolio. Research and compare funds based on factors like expense ratios, asset allocation, and historical performance.
Establishing a systematic investment plan by setting up consistent automatic contributions from your bank account to your investment account, even in small amounts, can also help you harness the power of compounding over time.
Remember to regularly review your passive investment portfolio to ensure it remains aligned with your asset allocation targets and risk profile.


6 great, practical tips that can have you approaching retirement much more confidently than I did. It's never too early to be prepared and confident knowing you have choices because you're financially secure.

As we approach our golden years, securing financial freedom and a comfortable retirement starts becoming more important.


If you'd like to know when I write a new post, please click HERE for email updates.
If you'd like to comment but not here on the blog, feel free to email me at - I'd love to hear from you.
And please share this post by clicking on a share button before you go.
Cresting the Hill - a blog for Midlife (Middle Aged / 50+) women who want to thrive


  1. It really is never too early to be prepared. I know too many women who aren't actively involved in their own financial planning so this article has some good tips. If you're in a partnership it's well worth discussing what retirement looks like for each of you - and what your respective risk tolerances are - and consult a good and reputable financial advisor.

    1. Hi Jo - you are SO right. I was so unprepared when I found myself about to quit my job. Once we spoke to a financial guy about our superannuation and our other assets, I took a deep breath and sighed out in relief. It would have been so much less stressful to have been more aware of our bigger picture and our options. And yes, being on the same page as your partner makes it a lot easier to navigate the transition.

  2. Excellent tips. I had to find these thru your website listed on FaceBook because, oddly enough, the blogpost email links would not work. Thank you!

    1. Hi Allison - I'm so glad you navigated your way here anyway - sometimes the internet does weird things. But all's well that ends well and I think sharing these tips is so important as we head into retirement and being self-sufficient with our funds. :)

  3. Hi Leanne - À good source of funds in retired life gives us emotional comfort which is important at that stage. Once parents depended on children. Now that is not an option.

    1. Hi Pradeep - imagine if we could have our kids support us for the next thirty years! The world has certainly changed - I'm just grateful we only need to support ourselves and we aren't paying for our adult kids as well (there are a lot of people my age who still have dependents). Being financially secure is such a relief - not having to work, and having alternative support structures in place is definitely the way to go.

  4. These are all good tips Leanne and we should be involved with our financial plans from an early age but alas many are not! We saw a financial planner leading into my husband's retirement and it was a sigh of relief from me too when things were explained clearly. I like Jo's tip of knowing how each partner sees retirement living as that can be a minefield too! Thanks for sharing :)

    1. Hi Deb - speaking to someone who has a good overview of what's needed for a comfortable retirement is such a great way to know if you are ready to take the leap into retirement or not. I was quite taken aback by how positive the guy was who we spoke to - and to know that all the preparation had paid off. Retiring together has been a breeze so far, and being on the same page makes it all a lot easier to navigate. :)

  5. Very good practical advice Leanne. I am now in my 70s and sadly some financial choices we made have not given us the retirement I may have thought of.

    Thus choices and decisions need to take much more into account than “what ifs” and more of being prudent and safe. Because that is how I am!

    We are grateful to have income that is reasonable but we do not have the housing security thanks to monumental increases in prices for housing in the last 10 years here in Sydney

    I too believe women need to be as informed as they can be individually too.


    1. Hi Denyse - it's unfortunate that we can make what seem like the best decisions at the time, but they can have huge, ongoing ramifications. I'm very grateful for the roof over our head, the savings in our bank account, and what we've managed to tuck away into our superannuation (despite very moderately paying jobs over the years).

      The housing market has become ridiculous and I think it will stay that way for the foreseeable future - it may fluctuate, but it always ends up climbing higher. I'm so glad you have a stable rental where you're settled for now. Retirement can be a fraught time when you mix it with the aging process.

  6. Leanne, when I was at school there was a subject called health and social education and during one lesson the teacher went into great depth on all the different types of mortgages and all the pros and cons. It really stuck in my mind that endowments could leave a deficit and years later when they were being pushed hard, I steered away from them taking a higher repayment mortgage and then an offset one instead. My friends were all left with money owing after 25 years and those that divorced were left with endowments still to pay. I often say a silent ‘thank you’ to that teacher with the tight blonde perm and red face who bothered to explain something most 13 year olds were not interested in. Maria

    1. Hi Maria - I really wish practical advice like this was the norm in schools. Just some common sense budgeting tips and maybe a little bit about compound interest. The idea of paying extra into your mortgage to clear it sooner, not borrowing on credit cards, investing wisely.... so many things we have to figure out for ourselves, and hopefully we get it right before we find ourselves in our 50's and still pushing it uphill financially.
      I'm so grateful that I've always been a saver rather than a spender - it's made the second half of life a lot more pleasant!

  7. Very good advice, Leanne. Having the freedom to retire early and with financial confidence has been a real joy for that I worked hard to earn.

    1. My sentiments exactly Christie - I'm so grateful now for all the saving and planning. It paid off enough that I can live a very pleasant life much earlier than I anticipated. :)


Thanks so much for your comment - it's where the connection begins.