Lately I’ve been thinking a lot about how quickly our 50s sneak up…… and how much this decade matters when it comes to our financial future.

By the time we reach our 50s, life isn’t slowing down for most…. in fact, it’s getting busier!

Between teenage kids, ageing parents, growing business pressures, and managing a household, it’s easy to let your own financial future take a back seat.

I get it – I’m in the thick of it myself. I am a business owner, with business partners, have three teenagers, and a wife who works close to full time. Life is full, but the days go quick.

But professionally and personally, I’ve seen one truth play out time and time again: Your 50s are a defining decade for your financial future.

Here’s why.

1. You’re likely at (or near) peak earnings, but also peak spending

It’s a common story. Income is strong, the business is humming, or your career is hitting its stride. But the money’s going out just as fast on school fees, mortgage, car upgrades, maybe helping adult kids get started. The danger is we assume high income equals progress but without a clear plan, it doesn’t.

2. Time is no longer on your side

At 53 (or perhaps the new 33), I am aware how quickly 60 is approaching. The runway to retirement (or at least, having the option to slow down) isn’t all that long. The earlier we start getting intentional with super, investments, tax strategies and debt, the more control we have over the next chapter.

3. Business and career reliance is a hidden risk

Many of us, especially business owners, have a huge portion of our wealth tied up in what we do. That’s fine, until it’s not. Diversifying outside the business or career, and having a clear exit plan, brings options. And options are what make transitions feel bloody exciting rather than stressful.

4. Inaction is the biggest cost

I speak to clients every day who are earning great money, doing well professionally, but feel vague or unsure about the bigger picture. That lack of clarity is draining – but of course completely avoidable.

Financial planning isn’t about cutting back or spreadsheets. It’s about clarity. Direction. Making the most of what you’ve built so far.

Here are three questions I often ask clients (and myself) –

1. If work stopped tomorrow, how long could your current lifestyle last?
2. Is your wealth spread across different areas, or reliant on one source?
3. Are you making the most of strategies available to reduce tax and boost long term wealth?

If you’ve been meaning to “get around” to sorting things out, now’s the time. I promise, it’s not as hard as you think, and the relief that comes with clarity is enormous.