Facing Fifty and Beyond: The Real Fear Women Have
I read an interesting study a while back that polled women over fifty about their biggest fears—and the results were surprising. It wasn’t about aging or getting older. It wasn’t about finding the perfect partner at this stage of life. And it wasn’t about weight, sagging breasts, Botox, or anything like that.
The biggest concern for women over fifty? Whether they’ll be able to support themselves as they approach retirement and beyond.
Some women said it was the kind of worry that kept them up at night or jolted them awake in a state of panic:
“How am I going to take care of myself?”
“How long will I have to work to sustain myself?”
“What if I get sick and can’t work?”
All valid concerns when you consider the financial realities many women face—mortgages, health insurance, everyday living costs like food, cars, utilities, and even pet care. With job insecurity growing and fewer opportunities for older workers, it’s no wonder this fear looms large. The monster under the bed isn’t furry with big teeth—it’s your underfunded 401(k).
So… what can you do besides live in fear?
The good news: There is a proactive approach that can shift your relationship with money. It might not solve everything overnight, but it’s a start. Here are a few basics:
1. Tighten Your Belt
Yeah, I know—it hurts. But it’s time to stop spending mindlessly and living above your means. That Maserati might look fabulous wrapped around your butt, but can you really afford those lease payments?
2. Stash It Away
Max out your 401(k) or other retirement accounts if possible. A good S&P 500 Index Fund can be your best friend. Feeling a little adventurous? Maybe even explore crypto—but do your homework.
3. Hands Off the House
Avoid tapping into your home equity. That tempting line of credit for a vacation or shiny new jewelry might feel good now, but think long-term: Is it really worth it?
4. Cut the Cord
Stop enabling your adult kids (I know—easier said than done). Fund your retirement first. It’s not selfish; it’s smart. Remember the airplane rule: put your own oxygen mask on first before helping others.
5. Stay Healthy
We’ll likely be working longer than we expected, so staying healthy is crucial. Don’t wait until something’s wrong—go to the doctor regularly. Get your mammograms, check-ups, and GYN visits. A healthy you is a financially smarter you.
6. Keep Health Insurance Until 65
Going uninsured is a massive risk. A single ER visit can cost thousands. Try to stay employed and insured until you can switch to Medicare—though even that system faces uncertainty.
The days of fully funded pensions, retiring at 55, and extended benefits are mostly gone. It’s time to be smart and proactive.
If you can, consult a financial planner. Can’t afford one? Gather some like-minded friends and invite a planner for a group discussion. There’s strength in community—and often, creative solutions come from collaboration.
Change is uncomfortable, no doubt. But the alternative—financial insecurity—can be much worse. The silver lining? You’re not alone. With shared knowledge, pooled resources, and a little imagination, women can face the future with more confidence and less fear.
Would love to hear your thoughts, reactions, and comments. Anyone? Bueller?
Peace out,
Michele
One20 Tuesday 