We’ve been building, managing, and stretching dollars for decades. Now is the time to ensure our financial house reflects the wisdom and strength we’ve accumulated. This isn’t about starting from scratch—it’s about refining, protecting, and purposefully directing what you’ve built.

Taking Stock of Where You Stand

Before setting new goals, know your current position. Pull your credit report from all three bureaus (you’re entitled to free reports annually at AnnualCreditReport.com). Review your retirement accounts—401(k)s, IRAs, pensions. List all assets including your home equity, savings, and any investments.

Calculate your net worth by subtracting debts from assets. This number isn’t a judgment—it’s information. Some of us are entering these years with significant wealth; others are rebuilding after setbacks like divorce, job loss, or supporting family members. Your starting point is simply that: a starting point.

Defining Your Next-Chapter Goals

What does financial security look like for you? Perhaps it’s retiring at 62 instead of working until 70. Maybe it’s having a cushion for regular visits to see grandchildren across the country. Or it could be leaving an inheritance to break generational cycles of financial insecurity.

Write down three to five concrete financial goals for this year. Make them specific: “Save $5,000 for emergency fund” rather than “save more money.” “Pay off $3,000 in credit card debt” instead of “reduce debt.”

Protecting What You’ve Built

Estate planning isn’t just for the wealthy—it’s for anyone who wants control over what happens to their assets and their care. If you haven’t already, this is the year to create or update your will, designate beneficiaries on all accounts, and consider a power of attorney for healthcare and finances.

Life insurance needs may have changed. If your children are grown and self-sufficient, you might need less coverage. But if you’re supporting aging parents or grandchildren, adequate coverage is crucial.

Maximizing Retirement Contributions

If you’re still working, take full advantage of catch-up contributions. In 2025, those 50 and older can contribute extra to retirement accounts beyond the standard limits. Even an additional $100 per paycheck compounds significantly over time.

If your employer offers matching contributions and you’re not maxing that out, you’re leaving money on the table. That match is part of your compensation—claim it.

Addressing the Gaps

Black women face unique financial challenges: we’ve historically earned less, experienced more employment discrimination, and had less generational wealth to draw upon. We’re also more likely to be supporting extended family members. These realities mean we may need to be more strategic and intentional.

Consider working with a financial advisor, particularly one who understands the specific circumstances many Black women face. The National Association of Personal Financial Advisors (NAPFA) can help you find fee-only advisors who work in your interest.

Building Community Wealth

Many of us are part of informal savings circles or sou-sou groups—these traditional practices have helped our communities for generations. If you’re in one, ensure agreements are clear. If you’re not, consider whether this communal approach to saving might work for you.

Financial freedom at this stage of life means having choices. It means not being dependent on others, being able to help those you love when you choose to, and living your remaining decades on your terms. You’ve earned this. Now let’s secure it.