You’re getting better.
That’s right! Contrary to popular culture’s sometimes irritating depiction of people over 50, recent university studies prove you actually get better with age. [1]
How?
Here are just 5 of the reasons your best days begin after 50.
A 30-year study of thousands of people showed that, when it comes to happiness, there’s a U-shaped curve that trends throughout our lives.
There are exceptions, but this curve is incredibly consistent.
Be it biological or social, for a majority of people, the mid-40s are the time when we feel the least fulfilled about our place in the world. [2]
The same studies show that something happens to us around 50. Our biological midlife crisis ends, our moods improve, and, even though we may joke about our occasional lapses in memory, in many important ways we actually become mentally quicker and more efficient.
How?
According to scientists, it’s probably because the sections of our brain become more efficiently connected. For the sake of example, let’s say you have 5 related concepts that are stacked one on top of the other, and which were learned sequentially (1-5). Earlier in life, to get to destination #5 (whatever it is), you still had to go through the sequence of #1, then #2, then 3, 4 and finally 5.
You may have gone from #1 to #5 quickly, but your mind still had to travel the sequence.
As you get older, around 50, your brain learns to take a more direct route, and you can more quickly and directly go from thought #1 to destination #5.
This is called crystallized intelligence.
Greater clarity comes with age. I don’t know anyone who doesn’t feel this way, and I’ve spent my career not only working with people over the age of 50, but watching as my clients zeroed-in on what they most wanted from life.
Knowing what you want makes it infinitely more likely that you’ll reach your goals.
For many people I’ve known, the first decades of adulthood are like being caught in a storm as we fight to accomplish … something. Anything. Many of us had no idea what we were trying to do, but we sure as heck spent a lot of time and energy trying to do it.
I enjoy talking to my long-term clients, and sharing the sense of accomplishment about all of the things—raising a family, selling a business, a home, finishing a career, projects, achievements—that are under our belts.
No one can take that away from you.
I tell my kids, and I consistently remind myself, that life is an amazing gift. Try to take a minute every day and appreciate what you’ve overcome and accomplished to get to where you are right now.
Appreciation is one of the keys to a happy life.
Obviously, one of the best things about being over 50 is that you’re more likely to enjoy a level of prosperity the younger set can’t touch. People over the age of 52 possess a lot wealth. How much? Boomers control almost 2/3rds (63%) of all the assets in America.[3]
Faced with a popular culture that has traditionally pandered to the young, it hasn’t always been simple to locate the positives around getting older.
But that’s changing.
Remember, if you are over 52, you are a member of the most-influential, wealthy and successful generation in history. And, if you pay attention to trends, you may have noticed changes in media as advertisers and marketers get up to speed and pander to your power and influence.
As Humphrey Bogart might’ve said: “They’re looking at you, kid.”
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1Barron’s 2024 Top 100 RIA Firms. Barron's© magazine is a trademark of Dow Jones L.P. The ranking of independent advisory companies is based on assets managed by the firms, growth, technology spending, succession planning, and other metrics.
2 Retention Rate Source: Allworth Internal Data, FY 2022
3 The NBRI Circle of Excellence Award is bestowed upon NBRI clients meeting one or both of the following criteria: Total Company score at or above the 75th percentile of the NBRI ClearPath Benchmarking Database and/or improvement of five (5) or more benchmarking percentiles in Total Company score over the previous survey.
4 As of 7/1/2024, Allworth Financial, an SEC registered investment adviser and AW Securities, a registered broker/dealer have approximately $22.5 billion in total assets under management and administration.
5 InvestmentNews 2020 and 2021 Best Places to Work for Financial Advisers. The ranking reflects survey responses and scores completed by both employers and employees. Employers report their organization’s workplace policies, practices, and demographics. Employees complete a survey designed to measure the employee experience.
6 2021 Value of an Advisor Study / Russel Investments
7 Ranked 9th Top Wealth Managers By Growth in Assets in the U.S. from RIA Channel, 2022. RIA Database and RIA Channel are registered trademarks owned by Labworks, LLC.
8 USA Today Best Financial Advisory Firms 2024. The ranking is based on the growth of the companies’ assets under management (AUM) over the short and long term and the number of recommendations they received from clients and peers.
9 NBRI Best in Class Ethics 2023. The Best in Class level is bestowed upon clients performing at or above 90 percentile of the NBRI ClearPath Benchmarking Database.
✢ Scott Hanson, Investment Advisor 2005, 25 most influential people in the financial services industry. The ranking reflects 25 people who Investment Advisor magazine believes have had or will have the greatest influence on the financial services industry.
✼Pat McClain, InvestmentNews 2014, Invest in Others Community Service Award, presented to an advisor who has made an outstanding impact on a community through managerial contributions to a non-profit organization.
†Financial Times, FT 300 Top Registered Investment Advisers, June 2019. The ranking reflects six areas of consideration including the company's years in existence, industry certifications of key employees, AUM, asset growth, SEC compliance record and online accessibility and calculates a numeric score for each company.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.