You've probably got on top of a lot of responsibilities in life and might be looking to make more lifestyle choices for yourself. If you have children, they’re likely to be less dependent and may have left home. You might want to help fund your children’s further education or help them purchase a car or their own place.

It's not uncommon for people in their 50s to be secure in their career, planning overseas travel and looking at growing their investment portfolio. Everyone over 50 should also be actively planning their retirement.

A major focus at this stage should be superannuation.

The challenges you may be facing:

• Health challenges
• Funding a preferred lifestyle
• Transitioning to part-time work
• A greater degree of independence
• Asset protection
• Life and health protection
• Tax management
• Transition to retirement planning
• Inheritance issues
• Estate planning
• Financial assistance and gifting to family
• Philanthropy
• Healthcare
• Long-term care planning – self
• Lifestyle –reward and giving