Turning 50 is a milestone. And while society loves to tell us to “slow down,” here at Fly Savvy Sol, we believe it’s time to speed up your wealth-building game! Your 50s should be about maximizing every opportunity and becoming the financial powerhouse you were born to be.
Here’s a list that goes beyond the standard “pay off debt and save” advice—these are next-level strategies that the savvy, smart, and financially empowered women need to know and implement immediately. Most people have never heard of these, but they’re exactly what will set you apart from the rest.
1. Create a Budget—but with a Twist
Sure, everyone tells you to budget. But have you heard of lifestyle inflation management? As your income grows, resist the urge to spend more. Instead, maintain your current lifestyle and funnel that extra income into investments. Think of it as keeping your spending lean so your investments can bulk up.
2. Build an Emergency Fund—but Don’t Let It Sit Idle
Most experts recommend a 3-6 month emergency fund, but why leave it in a regular savings account? Drop it into a high-yield savings account or money market fund. Same safety, way better returns. Keep your money working for you, even while it’s on standby.
3. Max Out Your Retirement Accounts
Here’s where the Backdoor Roth IRA comes in—if your income exceeds contribution limits, this strategy lets you still take advantage of tax-free growth. Why? Because tax-free money is the kind of money we like.
4. Self-Directed IRA: The Secret Weapon
What if you could invest your retirement money in real estate, cryptocurrencies, or even startups? You can with a Self-Directed IRA. It’s time to think bigger than stocks and bonds.
5. Invest in Private REITs
You’ve heard of real estate, but did you know you can invest in private Real Estate Investment Trusts (REITs)? These provide steady income with lower volatility than public markets—and let you reap the rewards of real estate without the hassle of tenants.
6. Bet on SPACs for Speculative Wins
Want to play in the big leagues? Consider SPACs (Special Purpose Acquisition Companies)—an early-stage investment opportunity before companies even go public. It’s high risk, high reward, but imagine hitting the next big thing early!
7. Diversify with Tangible Assets
Stocks are great, but have you ever thought about investing in art, wine, or commodities? These alternative assets thrive when markets fluctuate—and they make great conversation pieces!
8. Use Life Insurance to Borrow
Did you know your whole life insurance policy can be your own personal bank? Borrow against its cash value at lower interest rates than personal loans—keeping the rest of your investments intact and working for you.
9. Unlock Hidden Credit Card Perks
You’ve got a credit card, but do you know how to really work it? Think travel perks, purchase protection, and cashback. It’s about maximizing every dollar to work for you. Why leave money on the table?
10. Debt Snowballing with Family Partnerships
Paying off debt? Here’s a little-known gem: family partnerships allow you to shift income to lower-taxed family members while reducing your overall tax burden. Turn paying off debt into a strategic move for generational wealth!
11. Refinance and Invest in You
Lower your mortgage rate, but don’t stop there. Take that extra cash and put it into a Home Equity Line of Credit (HELOC). Now you’ve got a low-interest way to fund major expenses or investments.
12. Donor-Advised Funds (DAF)
Ready to grow your charitable contributions tax-free? With a Donor-Advised Fund, you can donate stocks, get an immediate tax deduction, and let the money grow tax-free until you’re ready to give. Philanthropy and strategy, all in one.
13. Turn Life Insurance Into Wealth
Whole life insurance isn’t just for emergencies—it’s a wealth-building tool. Grow the cash value and borrow from it tax-free. The rich have been doing this for generations. Time to catch up.
14. In-Service Distributions from 401(k)
Still working but want control over your investments? If your 401(k) allows in-service distributions, roll it into an IRA while you’re still employed. More options, more flexibility.
15. 529 Plans—for YOU
Most people think 529 Plans are just for kids. But if you’re planning to go back to school or expand your skills, you can use it for yourself—with tax-free withdrawals for educational expenses.
16. Custodial Accounts for Generational Wealth
Want to transfer wealth early and reduce your tax burden? Set up custodial accounts for children or grandchildren. It’s the ultimate long-term wealth play.
17. Fractional Shares and Robo-Advisors
If you don’t have tons to invest right now, fractional shares let you buy into top stocks without needing large sums. Use robo-advisors for automated, low-cost investing in the best assets available.
18. Maximize Your 401(k) AND More
Pair your employer match with after-tax 401(k) contributions, converting them to a Roth IRA for tax-free growth. Double your advantage.
19. Health Savings Account (HSA)—A Retirement Secret**
An HSA isn’t just for healthcare—invest it for retirement medical expenses tax-free. It’s one of the most underutilized retirement tools. Get on it.
Here’s the Reality:
This is the roadmap to securing financial independence, leaving a legacy, and setting yourself up for real wealth. And guess what? Most women don’t know these strategies, but you’re about to use them to your advantage.
Think about the possibilities: more freedom, less financial stress, and the ability to live life on your terms. That’s the dream, right? But the truth is, not making these moves could cost you big time.
If you care about your friends, your sisters, your community—share this with them. Because gatekeeping financial wisdom? We don’t do that here.
Ready to Take Control of YOUR Financial Future?
If you’re serious about transforming your finances and securing your future, let’s talk. We are offering free financial consultations to help you turn these strategies into your personal roadmap to success. Spots are limited, so don’t miss out—let’s get you on track for financial freedom. Schedule your Personal Financial Checkup today by completing the form below. Let us help you build a rock-solid plan, so you can secure the future you and your family deserve. Your wealth, your legacy, your peace of mind—let’s make it happen.
Share this. Don’t gatekeep.
Your wealth is waiting for you—go get it.
