3 Financial Moves To Make In Your 50s To Retire In Your 60s

Retirement planning gets real after age 50. People realize they no longer have the luxury of time to make up for financial mistakes. Making smart money moves in your 50s to achieve financial independence is essential.

Here are three financial moves for people in their 50s:

1. Control your housing expense.

Develop a plan to keep your fixed expenses low so your money will go further in retirement. Housing is many people’s most significant expense, so tackle this first. Owning a home free and clear is ideal. Without a mortgage, your cost of housing consists mainly of recurring expenses such as property taxes, insurance, utilities, and repairs. If possible, time your mortgage payoff to your retirement date.