Your Money Journey: Lisa Sakai
A strong financial foundation for women over 50 doesn’t come from trendy advice. It’s built on clear goals, simple habits, and consistency that lasts.
Define What Financial Freedom Really Means to You
Financial freedom is not a one-size-fits-all goal. Start your plan by asking yourself: What does financial freedom mean to you? Too many people skip this step and end up working for years without knowing what they’re chasing.
Know Your Endgame
Don’t settle for vague wishes like “I just want to be comfortable” or “I want to be free.” Dig into details. Do you picture early retirement? Dream of living abroad? Want to spend evenings grilling in your backyard? Only by making your goals clear and measurable do you know what you’re aiming for.
Write down specific, measurable goals. Here are some examples to spark your thinking:
- Retire at age 55 and travel for at least two months each year
- Become debt-free by age 40
- Build a side business that lets you work from anywhere
- Own a paid-off home and have the freedom to pursue hobbies without worrying about making ends meet
- Save enough to help kids with college, plus have money left for your own dreams
- List out what would make you feel truly free. The clearer you are now, the faster you’ll get there later.
3 Rules to Build a Strong Financial Foundation for Women Over 50
Many people know the building blocks of good money management. Fewer actually do them. Skipping these basics can leave you scrambling when life throws you a curveball.
Rule 1: Spend Less Than You Make
This is the cornerstone of financial health. If you spend more than you make, it’s important to manage your finances effectively. It’s easy to brush off—“Of course I know that!” But spending less takes practice, attention, and honesty.
Most budget problems come from ignoring this simple rule. If you focus on this aspect, it could potentially contribute to your progress.
Rule 2: Eliminate High-Interest Debt Fast
Credit cards, payday loans, and some student loans can drain your financial future. With double-digit interest rates, these debts grow faster than most investments. Make paying them off your top priority.
- List debts by interest rate
- Pay extra on the highest-rate debt first
- Avoid making purchases you can’t pay off in full
Not all debt is harmful. A mortgage may make sense if it fits your budget. But high-interest debt keeps you trapped. Break free as soon as you can.
Rule 3: Save and Invest Consistently, No Matter How Small
Consistency is key. Celebrate every step, even if you start with just five dollars a week. What counts is the habit and the growth over time.
- Set up automatic transfers to savings or investments
- Make sure what you are investing in fits with your risk and goals
- Gradually increase your contributions when possible
Small, regular actions add up. Start now and increase your savings as your income grows. Even baby steps matter.
Emergency Fund: Your Shield Against Life’s Surprises
An emergency fund isn’t just a rainy day backup. It’s the shield that keeps you from panic when life changes suddenly. Car breaks down? Job loss? A rare chance to travel or say yes to a spontaneous opportunity? Your emergency fund puts you in control instead of scrambling.
How Much Should You Save?
For most people, the minimum is three to six months of living expenses. In some cases, saving up to one year’s worth is wise, especially if you want ultimate flexibility.
What Counts as Cash?
True emergency funds must be liquid—easy to access when you need them fast. It can be in a checking or savings account. It can also be in a high-yield savings account. It just needs to be easy to get ahold of in a rush. No market risk.
Why Emergency Funds Matter
Almost everyone puts off building an emergency fund. It isn’t glamorous, and it can feel like money just sitting idle. But it aims to provide peace of mind. Having cash on hand may be beneficial, depending on your goals, and allow you to embrace new adventures without financial fear.
Ready to Start? Take the First Step Today
Building a solid financial base doesn’t have to be boring. The basics, done consistently, help you reach dreams faster and with less stress.
Start today. Pick one new habit to begin this week:
- Track every expense for a month and spot what you can change
- Draft your own version of financial freedom in writing—what does it look like?
- Open or check your emergency fund, and set up a regular deposit—even ten dollars counts
- Begin investing, even with a small amount, so your money starts working for you
- Promise yourself you won’t skip ahead to risky strategies until your base is strong
It’s never too late to rebuild your foundation. If you skipped over basics before, go back. Your financial house is always under your control.
Investment advice offered through Integrated Financial Partners, doing business as One Vision Retirement, a registered investment advisor. The information in this material is for general information only and is not intended to provide specific advice or recommendations for any individual. Integrated Financial Partners does not provide legal/tax advice or services. Please consult a qualified legal/tax advisor regarding your specific situation.
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About the Author:
Lisa Sakai is a Financial Consultant who works with clients on Bucket List Acceleration and getting to live the life they want now. As the co-founder of One Vision Retirement, she has been working with clients across the country for over 12 years. Lisa’s advice provides easy to understand, logical steps and exercises that people can take action on right away. Learn more about Lisa Sakai here at One Vision Retirement.
Need help getting started? No sweat, set up a no-obligation, Get to Know you Call today: https://calendly.com/onevisionretire/gettingtoknowyou
