As a public health professor who is an expert in health promotion, I started to think about things one could do around this milestone birthday to improve the chances of living a healthy life for decades to come.
After reviewing the literature on healthy aging, I identified four things in particular that take on greater importance when you turn 50 – and that go beyond general health advice that’s beneficial at any age, like staying active, eating well and getting enough sleep.
Get a colonoscopy
Urging everyone to get a colonoscopy is certainly not the most fun piece of advice, but it’s one of the most important. The American Cancer Society estimates that there will be more than 105,000 new cases of colon cancer, more than 45,000 new cases of rectal cancer and over 50,000 deaths from colorectal cancer in 2023 alone.
The good news is that the survival rate is high if the cancer is detected early, before it spreads to other parts of the body. The survival rate drops precipitously if cancer is found in the later stages.
In addition to detecting cancerous or potentially malignant polyps, your doctor can also detect swollen tissue and ulcers. These may indicate potential problems and increase the need for more frequent monitoring.
For people at low risk of colorectal cancer, there are less invasive tests that can be done at home, such as Cologuard. This involves collecting and mailing a sample of poop to a lab. These options should be discussed with your doctor to figure out which screening is best for you.
In 2021 the government’s Preventive Services Task Force changed its recommendation for beginning colorectal cancer screening from age 50 to 45 for people at low risk. As a result, insurance companies are required to cover the cost of screening for anyone age 45 or older.
For many people who grew up in the 1970s and 1980s, getting chickenpox was a rite of passage. I had a particularly severe case around my 10th birthday.
While shingles are not usually life-threatening, they cause a rash and can be extremely painful. Getting shingles also greatly increases one’s risk of having a stroke over the following year.
The good news is that the shingles vaccine is highly effective. The Centers for Disease Control and Prevention recommends that adults 50 and older get the two-shot regimen, two to six months apart, which is 97% effective at preventing shingles.
Bump up retirement savings, look for discounts
Retirement might seem like a long way off, but the average retirement age in the United States in 2022 was 61. The same study found that on average people thought they were going to retire at age 66.
For anyone born after 1960, full retirement benefits don’t kick in until age 67, leaving a six-year gap between that and the average retirement age.
Retiring earlier than you had planned can occur for many reasons, but involuntary ones, like job loss, injury or illness, can be a financial strain. The general rule is that you need about 80% of your pre-retirement income to be financially comfortable in retirement. This consists of all sources of income, including Social Security benefits, pensions and investments.
If you are behind where you should be in savings, the Internal Revenue Service allows you to make catch-up contributions starting the year you turn 50. Employees who are 50 or older with a 401(k), 403(b) or 457(b) can contribute an extra US$7,500 a year. This money grows tax-free and helps provide an extra cushion when you retire. At age 50, an extra $1,000 per year can also be contributed for individual retirement accounts and Roth IRA accounts.
Another way to save: Many hotels, restaurants and retail outlets offer senior discounts starting at age 50.
You can find reliable and up-to-date discounts by joining the AARP. This nonprofit organization advocates for people ages 50 and older. Membership is under $20 per year and provides hundreds of discounts.
Get your paperwork in order
While people in their 50s and beyond often still have their best decades ahead of them, it is vital to prepare for the unexpected – at any age. The mortality rate for people ages 55 to 64 is double that of those age 45 to 54.
Living wills indicate the type of care you want or don’t want if you are unable to communicate your preferences. The durable power of attorney is a document that allows someone you appoint to make health care decisions for you if you cannot. This is different from a general power of attorney, which ends if you can no longer make decisions on your own.
These may seem like a time-consuming list of things to do, but breaking them down into separate tasks makes it more manageable. So far, I have bumped up my retirement savings and scheduled my colonoscopy – even though I’m five years late on that one, based on the new recommendations.
I will get the rest done by the end of the year – and if you’re turning 50 or just planning ahead, I hope you do too. Admittedly, not all of it is fun, but everything on this checklist will add security to your years, and perhaps years to your life.
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Jay Maddock does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
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6 ways to strengthen your retirement savings this year
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Coming out of one of the most volatile years on record for the stock market, investors are looking for ways to take back some control over their investments—especially the savings they're putting away for retirement.
Stacker analyzed common retirement savings best practices from sources including the Federal Deposit Insurance Corp. and the Securities and Exchange Commission, along with reports from reputable news and financial institutions, so that you don't have to.
Think of these suggestions as a kind of spring cleaning for your finances. Much like other important things in life, your savings need occasional maintenance to ensure they're working as hard as possible to fund the future you hope for after retirement.
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Coming out of one of the most volatile years on record for the stock market, investors are looking for ways to take back some control over their investments—especially the savings they're putting away for retirement.
Stacker analyzed common retirement savings best practices from sources including the Federal Deposit Insurance Corp. and the Securities and Exchange Commission, along with reports from reputable news and financial institutions, so that you don't have to.
Think of these suggestions as a kind of spring cleaning for your finances. Much like other important things in life, your savings need occasional maintenance to ensure they're working as hard as possible to fund the future you hope for after retirement.
6 ways to strengthen your retirement savings this year
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It's commonly said that acting on emotions is a terrible way to make important financial decisions, and that recommendation extends to if you feel you've stockpiled enough savings. Instead of going on how secure you feel, sit down and go over all the numbers to give an accurate calculation of your net worth.
Calculating your net worth isn't just about looking at the bottom line on your financial statements. A true net worth calculation means totaling all your assets (including, crucially, your home) and subtracting liabilities such as student loans, credit card debt, and mortgages.
By doing the work to figure out this number, as well as updating it from time to time, you will have a much clearer picture of where you currently stand financially. That number can also color how you set your retirement goals, as well as how you plan to achieve them.
Seeing a concrete figure for your net worth also helps to inform what a responsible day-to-day budget should look like. If you're falling behind on your goals, it'd be wise to adjust how you spend your income.
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It's commonly said that acting on emotions is a terrible way to make important financial decisions, and that recommendation extends to if you feel you've stockpiled enough savings. Instead of going on how secure you feel, sit down and go over all the numbers to give an accurate calculation of your net worth.
Calculating your net worth isn't just about looking at the bottom line on your financial statements. A true net worth calculation means totaling all your assets (including, crucially, your home) and subtracting liabilities such as student loans, credit card debt, and mortgages.
By doing the work to figure out this number, as well as updating it from time to time, you will have a much clearer picture of where you currently stand financially. That number can also color how you set your retirement goals, as well as how you plan to achieve them.
Seeing a concrete figure for your net worth also helps to inform what a responsible day-to-day budget should look like. If you're falling behind on your goals, it'd be wise to adjust how you spend your income.
6 ways to strengthen your retirement savings this year
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Another benefit to calculating your net worth is that you gain a clear sense of how much debt you're carrying. Socking away $1 million in the bank sounds nice, but that seven-figure bank balance is nothing more than a mirage if you owe $2 million on credit cards. It can be difficult to plan strategically for retirement if you are carrying too much debt—facing a mountain of bills can also tempt you to dip into retirement savings and delay building your nest egg.
One strategy popularized by financial adviser Dave Ramsey is the "debt snowball" method. With this method, you continue to pay the minimum required balance on all your debts, but any cash you can set aside is applied to the debt with the lowest balance. Once that debt is paid, you apply all the money spent on the cleared debt to the next-lowest amount.
Simply paying down debt can go a long way toward improving your financial situation, but not all debt is the same. Estimates vary, but an August 2022 report from McKinsey says the average yearly return from U.S. stock market investments from 1800 to today is 6.5% to 7%. That suggests it may be better to focus a debt snowball on loans with interest rates above 7%.
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Another benefit to calculating your net worth is that you gain a clear sense of how much debt you're carrying. Socking away $1 million in the bank sounds nice, but that seven-figure bank balance is nothing more than a mirage if you owe $2 million on credit cards. It can be difficult to plan strategically for retirement if you are carrying too much debt—facing a mountain of bills can also tempt you to dip into retirement savings and delay building your nest egg.
One strategy popularized by financial adviser Dave Ramsey is the "debt snowball" method. With this method, you continue to pay the minimum required balance on all your debts, but any cash you can set aside is applied to the debt with the lowest balance. Once that debt is paid, you apply all the money spent on the cleared debt to the next-lowest amount.
Simply paying down debt can go a long way toward improving your financial situation, but not all debt is the same. Estimates vary, but an August 2022 report from McKinsey says the average yearly return from U.S. stock market investments from 1800 to today is 6.5% to 7%. That suggests it may be better to focus a debt snowball on loans with interest rates above 7%.
6 ways to strengthen your retirement savings this year
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Many tech products aim to provide a "seamless" experience, meaning they aim to make it as easy as possible to sign up for a service or purchase a product. Streaming services have made it exceptionally easy to click a couple of buttons and sign up for a new service so you can binge-watch whatever you're fascinated by next.
But a few months later, it's equally easy to forget you agreed to ongoing payments in exchange for seeing just one season of some now-forgotten series. Many subscription service fees seem like small monthly amounts, but when bundled together, they could be taking a serious bite out of your income.
One writer found that by canceling all the services she didn't use on a weekly basis, she lowered her monthly expenses by over $450. If she put all that money into a stock market index fund and never touched it again, she could end up with over $41,000 for retirement in 30 years.
picture alliance // Getty Images
Many tech products aim to provide a "seamless" experience, meaning they aim to make it as easy as possible to sign up for a service or purchase a product. Streaming services have made it exceptionally easy to click a couple of buttons and sign up for a new service so you can binge-watch whatever you're fascinated by next.
But a few months later, it's equally easy to forget you agreed to ongoing payments in exchange for seeing just one season of some now-forgotten series. Many subscription service fees seem like small monthly amounts, but when bundled together, they could be taking a serious bite out of your income.
One writer found that by canceling all the services she didn't use on a weekly basis, she lowered her monthly expenses by over $450. If she put all that money into a stock market index fund and never touched it again, she could end up with over $41,000 for retirement in 30 years.
6 ways to strengthen your retirement savings this year
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Some important details of your financial life do not necessarily appear in your net worth calculation, like liquidity.
You might be worth $300,000, but if all that money is tied up in the value of your home, you'll be hard-pressed to find the cash if an expensive, urgent situation comes your way. The money's not in your bank account, and getting access to it—like through a home equity line of credit—comes with its own costs and time delays.
Financial advisers suggest you keep an emergency cash fund available for unexpected expenses. The traditional advice is to have three to six months' worth of expenses saved in that account. So if your expenses have gone up, or you're at the lower end of that range, consider increasing your contributions to your rainy day stash. Having this financial cushion will help prepare you for unforeseen crises so you don't have to turn to retirement savings for emergency cash.
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Some important details of your financial life do not necessarily appear in your net worth calculation, like liquidity.
You might be worth $300,000, but if all that money is tied up in the value of your home, you'll be hard-pressed to find the cash if an expensive, urgent situation comes your way. The money's not in your bank account, and getting access to it—like through a home equity line of credit—comes with its own costs and time delays.
Financial advisers suggest you keep an emergency cash fund available for unexpected expenses. The traditional advice is to have three to six months' worth of expenses saved in that account. So if your expenses have gone up, or you're at the lower end of that range, consider increasing your contributions to your rainy day stash. Having this financial cushion will help prepare you for unforeseen crises so you don't have to turn to retirement savings for emergency cash.
6 ways to strengthen your retirement savings this year
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A well-known benefit of a 401(k) program is that the money contributed from your paycheck isn't taxed as income until you withdraw it after age 59 ½.
So, if you get paid $40,000 yearly after taxes and contribute $5,000 of that for your 401(k), you're only on the hook to pay taxes on the remaining $35,000 this year. The plans also let investors contribute toward their retirements automatically via direct deduction from their paychecks. That way, the money is squirreled away before it hits your bank account, so you won't have to think about it—or be tempted to spend it.
Perhaps the biggest bonus to 401(k) plans is that some full-time employers offer matches to employee contributions, at least up to a certain level. But nearly a quarter of all employees eligible for that free money from their employer don't set aside enough money to maximize the employer contribution.
In December 2022, President Biden signed an appropriations bill into law that includes a set of provisions—known as SECURE 2.0—that will impact retirement savings plans. One of the provisions requires employers to automatically enroll workers into new company retirement plans at no lower than a 3% rate starting in 2025.
Take some time this year to review how your plan is set up. If you're expecting a raise, consider applying most or all of it toward your retirement savings. You may not even notice a missing increase in your regular paycheck, and you'll be setting yourself up for a more relaxing retirement.
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A well-known benefit of a 401(k) program is that the money contributed from your paycheck isn't taxed as income until you withdraw it after age 59 ½.
So, if you get paid $40,000 yearly after taxes and contribute $5,000 of that for your 401(k), you're only on the hook to pay taxes on the remaining $35,000 this year. The plans also let investors contribute toward their retirements automatically via direct deduction from their paychecks. That way, the money is squirreled away before it hits your bank account, so you won't have to think about it—or be tempted to spend it.
Perhaps the biggest bonus to 401(k) plans is that some full-time employers offer matches to employee contributions, at least up to a certain level. But nearly a quarter of all employees eligible for that free money from their employer don't set aside enough money to maximize the employer contribution.
In December 2022, President Biden signed an appropriations bill into law that includes a set of provisions—known as SECURE 2.0—that will impact retirement savings plans. One of the provisions requires employers to automatically enroll workers into new company retirement plans at no lower than a 3% rate starting in 2025.
Take some time this year to review how your plan is set up. If you're expecting a raise, consider applying most or all of it toward your retirement savings. You may not even notice a missing increase in your regular paycheck, and you'll be setting yourself up for a more relaxing retirement.
6 ways to strengthen your retirement savings this year
Canva
Saving for retirement, like many personal goals, is not a competition against anyone else. But, like other goals, sometimes you need to stretch your horizons to continue to grow. It's possible that your needs in retirement may be considerably less than you initially planned, especially if you've downsized your home or have adjusted your aspirations to be a bit more frugal.
In other cases, many experience "lifestyle creep"—an endless cycle of buying things you don't need, usually for more than you need to pay, just to keep up appearances. People often find that if they've steadily upgraded their lifestyle habits over the years, they'll need even more money in retirement than they initially planned. If you realize your expenses in retirement might be higher, consider an increase in how much you set aside from each check toward retirement goals. Keeping your future needs in mind can lead to financially wise decisions today.
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Saving for retirement, like many personal goals, is not a competition against anyone else. But, like other goals, sometimes you need to stretch your horizons to continue to grow. It's possible that your needs in retirement may be considerably less than you initially planned, especially if you've downsized your home or have adjusted your aspirations to be a bit more frugal.
In other cases, many experience "lifestyle creep"—an endless cycle of buying things you don't need, usually for more than you need to pay, just to keep up appearances. People often find that if they've steadily upgraded their lifestyle habits over the years, they'll need even more money in retirement than they initially planned. If you realize your expenses in retirement might be higher, consider an increase in how much you set aside from each check toward retirement goals. Keeping your future needs in mind can lead to financially wise decisions today.
Turning 50 can be the time of your life – but it also means adapting to new challenges. monkeybusinessimages/iStock via Getty Images Plus
Actor Chadwick Boseman at the 2016 NAACP Image Awards in Pasadena, Calif. Boseman died of colon cancer in 2020 at age 43. Jason LaVeris/Film Magic via Getty Images
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