5 Things to Help You Survive Your 40s & 50s

Carola Singer • January 16, 2019

You know those days where everything goes wrong and you’re so tired you don’t know what direction’s up? They’re a lot more manageable when you know what you’re working towards.

Here’s 5 things that’ll help you survive—and make the most of!—your 40s and 50s.

1. Do work you enjoy.

Brace yourself for the motivational platitudes… Life’s too short to do work you don’t enjoy. You’re never too old to start something new. It’s not too late!

They’re cliches for a reason.

We spend too many hours working and commuting to be in a career that gives us the Sunday night dreads. Doing work we enjoy gives us the sense of purpose and energy we need to juggle our way through these years. And man, do we need all the energy we can get...

This doesn’t mean you have to storm into your boss's office yelling, “I QUIT” so you can start a surf school in Hawaii (Although, go for it!). Maybe you do need a whole new career, but perhaps you just need a new position within your company, or to tweak the one your have so you’re working on different projects.

Bottom line, a more enjoyable career might be easier to get than you think. And it’s so worth it.

2. Have extra cash on hand for emergencies.

Between your kids, your parents, your home, and even your pets (have you seen vet bills these days?!) someone’s bound to need something.

Having cash on hand means you’ll be able to cover these surprise expenses stress-free. So the next time Fido needs an emergency run to the vet to get who-knows-what removed from his paw, your won’t have to rely on credit or give up your weekly brunches to cover it.

The general rule of thumb is to have three to six months worth of cash on hand in an emergency fund. In these years make it closer to six months worth, just to be safe.

3. Take care of your health.

What’s that got to do with money, you ask? Everything.

We all know neglecting your health now can lead to big medical bills down the line, but that’s not really the point. Staying healthy means you can make the most of your time, and time is the most precious thing we have. What good is time off if you’re not healthy enough to enjoy it?

We’re not saying you should stop buying cookies and sign up for a triathlon, just a couple healthy habits can go a long way. Maybe that’s walking your kids to practice instead of driving, having healthier lunches at work, joining a hockey league with your friends... whatever works for your lifestyle.


4. Know what you’re working towards.

No, “retirement” doesn’t count. Get specific! How do you want to spend your time? What do you truly value? What makes you happy?

Spend more on that and less on everything else.

If you’re a homebody or someone who loves to entertain, it makes sense to put money towards renovations or a bigger house. But if you’re a travel junkie who sees wine tastings across Europe in their future, maybe you need to downsize and put those dollars towards your Italy fund.

Let go of what you think you should be spending on and working towards, and get clear on what you actually want.

5. Make a plan for your money.

Once you know what matters to you and what you’re working towards it’s a whole lot easier to make a plan for your money.

You can estimate what that new house or wine tour will cost and save for it accordingly. You’ll know how much you’ve got leftover to spend today and you’ll know what spending will make you happy, and what won’t.

The daily grind becomes a lot more manageable once you know you’re investing in the life you want.


This article was written by Randy Cass, CEO, Founder, and Portfolio Manager at Nest Wealth.This article originally appeared on the Nest Wealth blog on May 26th, 2017.

RECENT POSTS 

Bank of Canada Rate Announcement Dec 10th, 2025

By Carola Singer • December 10, 2025
Bank of Canada maintains policy rate at 2.1/4%. FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario December 10, 2025 The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Major economies around the world continue to show resilience to US trade protectionism, but uncertainty is still high. In the United States, economic growth is being supported by strong consumption and a surge in AI investment. The US government shutdown caused volatility in quarterly growth and delayed the release of some key economic data. Tariffs are causing some upward pressure on US inflation. In the euro area, economic growth has been stronger than expected, with the services sector showing particular resilience. In China, soft domestic demand, including more weakness in the housing market, is weighing on growth. Global financial conditions, oil prices, and the Canadian dollar are all roughly unchanged since the Bank’s October Monetary Policy Report (MPR). Canada’s economy grew by a surprisingly strong 2.6% in the third quarter, even as final domestic demand was flat. The increase in GDP largely reflected volatility in trade. The Bank expects final domestic demand will grow in the fourth quarter, but with an anticipated decline in net exports, GDP will likely be weak. Growth is forecast to pick up in 2026, although uncertainty remains high and large swings in trade may continue to cause quarterly volatility. Canada’s labour market is showing some signs of improvement. Employment has shown solid gains in the past three months and the unemployment rate declined to 6.5% in November. Nevertheless, job markets in trade-sensitive sectors remain weak and economy-wide hiring intentions continue to be subdued. CPI inflation slowed to 2.2% in October, as gasoline prices fell and food prices rose more slowly. CPI inflation has been close to the 2% target for more than a year, while measures of core inflation remain in the range of 2½% to 3%. The Bank assesses that underlying inflation is still around 2½%. In the near term, CPI inflation is likely to be higher due to the effects of last year’s GST/HST holiday on the prices of some goods and services. Looking through this choppiness, the Bank expects ongoing economic slack to roughly offset cost pressures associated with the reconfiguration of trade, keeping CPI inflation close to the 2% target. If inflation and economic activity evolve broadly in line with the October projection, Governing Council sees the current policy rate at about the right level to keep inflation close to 2% while helping the economy through this period of structural adjustment. Uncertainty remains elevated. If the outlook changes, we are prepared to respond. The Bank is focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. Information note The next scheduled date for announcing the overnight rate target is January 28, 2026. The Bank’s next MPR will be released at the same time.

Smart Strategies to Save for Your Down Payment

By Carola Singer • December 3, 2025
How to Start Saving for a Down Payment (Without Overhauling Your Life) Let’s face it—saving money isn’t always easy. Life is expensive, and setting aside extra cash takes discipline and a clear plan. Whether your goal is to buy your first home or make a move to something new, building up a down payment is one of the biggest financial hurdles. The good news? You don’t have to do it alone—and it might be simpler than you think. Step 1: Know Your Numbers Before you can start saving, you need to know where you stand. That means getting clear on two things: how much money you bring in and how much of it is going out. Figure out your monthly income. Use your net (after-tax) income, not your gross. If you’re self-employed or your income fluctuates, take an average over the last few months. Don’t forget to include occasional income like tax returns, bonuses, or government benefits. Track your spending. Go through your last 2–3 months of bank and credit card statements. List out your regular bills (rent, phone, groceries), then your extras (dining out, subscriptions, impulse buys). You might be surprised where your money’s going. This part isn’t always fun—but it’s empowering. You can’t change what you don’t see. Step 2: Create a Plan That Works for You Once you have the full picture, it’s time to make a plan. The basic formula for saving is simple: Spend less than you earn. Save the difference. But in real life, it’s more about small adjustments than major sacrifices. Cut what doesn’t matter. Cancel unused subscriptions or set a dining-out limit. Automate your savings. Set up a separate “down payment” account and auto-transfer money on payday—even if it’s just $50. Find ways to boost your income. Can you pick up a side job, sell unused stuff, or ask for a raise? Consistency matters more than big chunks. Start small and build momentum. Step 3: Think Bigger Than Just Saving A lot of people assume saving for a down payment is the first—and only—step toward buying a home. But there’s more to it. When you apply for a mortgage, lenders look at: Your income Your debt Your credit score Your down payment That means even while you’re saving, you can (and should) be doing things like: Building your credit score Paying down high-interest debt Gathering documents for pre-approval That’s where we come in. Step 4: Get Advice Early Saving up for a home doesn’t have to be a solo mission. In fact, talking to a mortgage professional early in the process can help you avoid missteps and reach your goal faster. We can: Help you calculate how much you actually need to save Offer tips to strengthen your application while you save Explore alternate down payment options (like gifts or programs for first-time buyers) Build a step-by-step plan to get you mortgage-ready Ready to get serious about buying a home? We’d love to help you build a plan that fits your life—and your goals. Reach out anytime for a no-pressure conversation.