Three small things to do in your 50's to look after you in your 80's

James Clear says something like, “Every action we take now is a vote for our future.” We know in our heads that if we don’t do certain things today, that bright future might not happen. But somehow, we don’t always know it in our hearts. We need to put on our thinking caps and really dive into the small moves we need to make today to make our financial future solid.

As a middle aged woman (OMG SOOOOOOO OLD) I feel like I owe it to myself to live my best possible life. I talk to so many people everyday who feel powerless, invisible, and helpless. 

We need to get out of our own way. What’s happening when we spend money today? How are we programmed to do things—by the patriarchy, our parents, spouses, society, or religion? There are stereotypes supporting this mindset. For example, women control 75% of discretionary spending in households, yet 85% of ads target men. Think about it: even when women do appear in ads, we’re often shown in revealing clothing and passive roles. No wonder women over 45 feel invisible!

It’s hard to be what we can’t see, but we’ve spent most of our lives doing it. I’m inspired by the younger women out there breaking barriers, but as older women, we have unique challenges. For instance, did you know that women are the fastest-growing group of homeless people in Australia? This stat is significant because we’ve often found ourselves—or put ourselves—in positions where we aren’t financially empowered.

So, we need to become visible to ourselves first! By visible, I mean knowing what we want and need on our own happy money journey—not someone else’s. We need to talk about the things that impact us, like divorce, big career changes, starting our own businesses, moving out of the corporate world, managing older children and parents, and a financial future that might feel a little scary.

I’m 54 now, and I don’t want to be tracking every penny—I want to have fun and do stuff! But I also have responsibilities, and my biggest one is making sure that when Phoebe is 80, she’s taken care of. So, I ask you: What does your next 30 years look like?

Being homeless doesn’t necessarily mean living on the streets. It could mean living in temporary accommodations, renting, staying with children, or caring for elderly relatives without your own property, money, or superannuation. Without control of your home as you age, you’re not financially healthy for the future.

I’ve spent years as a mortgage broker and financial planner, and I know the social security system in Australia is geared toward homeowners. I have a home, still have a mortgage, and a loose plan to downsize at a certain age. But where will you live when you’re 80 if you don’t have a home now? Even a small, simple space that you own outright can be your security.

I want to scare you just enough to get you to look at where you’re at today. Do you have options? I’ve seen people help their parents buy a home, use inheritances or divorce settlements to downsize, or rent properties until kids are grown. Whatever your situation, having a plan is essential—get your family involved and ensure that you won’t be homeless in the future.

Rethinking How We Spend and Invest
We often do two things when we feel out of control with our money: either spend like there’s no tomorrow or hold on so tightly that there’s no joy. Many of us try to follow financial gurus, but sometimes their methods don’t fit us. Take the Barefoot Investor or Profit First, for example—great systems, but they can feel overwhelming. I tried them, too, but felt like a failure when I couldn’t make them work.

The problem isn’t you. Everyone’s financial journey is different, and the key is finding what works for you. For me, it’s as simple as having two accounts for business and two for personal. The trick is knowing what brings you joy and aligning your spending with your values.

We’re past frivolous spending and making bad decisions. We’re almost living on the opposite end, where we’re afraid to spend because of future uncertainties. But if we stop acting like the invisible women society expects us to be and stand in our truth, we can do these next 30 or 40 years on our terms.

And here’s a little tip: my emergency fund is an investment account, not just savings.

Bridging the Gender Investment Gap
Now, let’s talk investing—the big gender gap in this area. While women control most household spending, we’re often told to save rather than invest. We’re steered away from "risky" investments and told to play it safe, which often leaves us behind financially. But those days are over. We need to educate ourselves on investments, even if it feels daunting at first.

Accordingf to Deloitte, women of the middle class are also the fastest-growing group of wealthy individuals. We live longer and are gaining more control over significant financial decisions. Inheritances, super payouts, and business sales can suddenly place us in control of a huge amount of wealth. But to make that wealth grow, we need to invest, not just save.

It’s time to scrutinize the narratives that have held us back and step into our financial power. Whether it’s updating your bank accounts, reviewing your investments, or making a plan for your 80s, start now. I’m here to guide you on this journey.

Your Happy Money Journey Starts Now
So, ladies, let’s take control of our financial futures. No more hoping for the best—let’s make it happen. Start by looking at where you are now, envision where you want to be at 80, and make a plan. YEnjoy your journey!