Taking control of your 50s

In terms of careers, the 50s are the "now or never, do or die" decade. If you've always wanted a particular kind of work, this is the time to push forward. If you want to retire at a certain level of income, you need to save money now.
For women who took breaks to care for children, the 50s may present their first decade of uninterrupted career progression, resulting in exciting growth and promotions. Men, on the other hand, may deal with feelings of burnout, particularly if they have worked without a break since they were in their 20s.
Reach for your goals
The 50s are the decade for reaching personal goals as well. If you dream of traveling the world, running a marathon or building a cabin with your own hands ... well, you may never be as strong as you are now. How will you make these dreams happen?
The watchword for the 50s is planning. Without a plan, one can too easily continue the pattern set in one's 40s -- which may include poor financial management or work that doesn't satisfy. In light of possible career changes, or a push for the next level in one's profession, each year of this decade must be put to good use.
If you are still rearing children, you almost certainly divide your attention between your kids and your aging parents. Or, you face an empty nest, with your children leaving to start their lives. At this stage, your own health and that of your spouse can be a concern, and your caretaking may focus closer to home.
Recognize your limits
Whatever family strains you face, boundaries are important. If you have career goals or personal dreams you delayed achieving, you will need to factor them into your family life now, or accept the possibility of never realizing them.
Family boundaries play a part in finances, as well. For example, if you do not have enough saved for retirement, you probably should not pay for your children's college expenses. Recognize that you can help your children repay student loans later, but the reverse is unlikely to be true: If you overspend now, your offspring will probably not be able to pay housing or health care expenses for you.
Speaking of retirement: How much will you need? Review your goals and refine your plans now, while you can still add a second job, prepare for part-time retirement work or downscale your retirement expectations. Now is also the time to clean up debt. Without a doubt, you must eliminate as many monthly payments as possible.
Basic steps for planning
UIdentify personal and career goals that have not yet been achieved. After considering family needs and financial resources, decide which goals are still important and which you can let go.
UIf you desire a career change , you will need to first identify the career you want, then identify the steps to reach it. Research and networking will be key to this process.
USet a time line that includes your research steps, decision dates and the date you will start a job search. Dates to reach personal goals also need to be charted.
UGet started on your plan. If you run into snags, resolve them. Just don't let ordinary obstacles stop you, or this decade will melt away before you know it.
Start living
Using strictly economic measures, the 50s may be your last chance to realize a return on the time or money invested in training. If a degree isn't important to you, take individual classes to strengthen skills for use in part-time retirement jobs. If your current work is strenuous, learn skills you can use as your physical abilities change.
Forget any preconceived notions you may have had about what your 50s would be like. In particular, drop the idea that work stops at 65 and that you may live only 10 years or so after that.
At age 50, you have a very good chance of working 20 more years, and living another 20 years in retirement. With this in mind, ask yourself again: Is a career change at 50 worth the effort? How could it not be?
XAmy Lindgren, the owner of a career-consulting firm in St. Paul, Minn., can be reached at alindgren@pioneerpress.com.