You might feel like your life, retirement savings and finances are set in stone at this age.
But this mindset can be one of the biggest financial mistakes you make in your 50s, says Autumn Knutson, certified financial planner and founder of Styled Wealth.
Here are three smart decisions to make with your money in your 50s, according to three certified financial planners.
Secure long-term care insuranceAs you inch closer to retirement, your 50s are a good time to consider long-term care insurance, says Andrew Fincher, a CFP and financial advisor at VLP Financial Advisors.
Separate from health insurance and Medicare, long-term care insurance covers expenses that often arise in your later years, such as assisted living care and at-home care.
Persons:
—, Andrew Fincher, Fincher, Marguerita Cheng, Cheng
Organizations:
Financial, Blue Ocean, Fidelity Investments