Is It Too Late To Start Over At 50 With No Money?

At the age of 50, life can be uncertain wherein a variety of crises could happen. It may include losing a job, health issues, broken relationships, and now a global pandemic. Those events are physically, emotionally, and mentally exhausting, like hitting the rock bottom.

Here’s one truth, it is never too late to start your life again at 50, regardless of the shifting mindset. Everyone is free to begin a new chapter even without a huge saving in the bank. In fact, rock bottom teaches us to grab opportunities to bounce back from our setbacks.

Starting over is never easy. There will be frustrations along the way, and that is normal. All you need to do is to embrace the process no matter how long it will be. Old people can feel the pressure and that too is valid, as humans tend to compare every accomplishment. The good news is self-development is still possible at the age of 50 and beyond.

How Does Age Affect Someone’s Life?

Ageing is part of life no one can avoid. It limits someone’s day-to-day activity that slows down life overall. Elderly people had little independence not producing enough income to support daily needs. Also, as you age, health problems can often happen which leads to breaking the bank with lots of medications.

How Does Lack of Money Affect the Elders?

They say, “Money cannot buy happiness”, but it really does. Elders seem to be helpless without money, except for accepting pensions. The lack of money will turn into a lack of resources and motivation to live, sooner or later. This is one of the issues when we age, it will be harder to earn money. We may have a lot of free time but only a little strength to hustle.

Why are people in their 50s afraid to start over in life?

We live in a world where starting over seems possible only on younger generations, but not with the elders. The oldies tend to stop living full of energy due to the highs and lows of life. They experience a lot of anxieties because of aging that results in not growing at all.

Here are reasons why old people become afraid in starting over:

Less Independence

People at 50s will be needing assistance in almost everything they do. During the early years, they are the ones taking care of the family but as they aged, everything has changed. It makes them feel limited because of some reasons, including physical sickness.

Memory Problems

Old people may not be as attentive as young ones, which can affect someone’s journey. At this age, there will be a higher risk of short-term memory loss. They may get confused from time to time making them anxious about everything.

Physical Difficulty

At 50, illness and disabilities are common to happen. They are inevitable and can really slow down someone’s pacing, especially the elders. This could hinder possible growth as you aged and is very discouraging. That is why most people at 50s chose not to keep going instead of not giving up.

Lack of Money

Not having a job can make somebody feel worthless. It drops down the ego, particularly on individuals who passionately worked in the early years of his/her life. Not earning any amount triggers elders to be fearful of the future that starting over would not be a choice. Then again, lack of money paralyzes anyone not to dream again.

Failed Relationships

At 50-something years old being in a relationship can be complicated at times. This is when divorce is likely to happen due to a life crisis thus choosing to live alone can be necessary. People facing failed relationships are mostly discouraged to start over again.

Their trust could be so broken that facing the reality would be hard.  Trusting again is something that will take time and that slows down somebody’s journey.

Tired of Hoping

Some individuals at 50 may be satisfied with the life they have lived on. But, most of them are just tired of being hopeful about what may come next. This emotional tiredness is very common in elders who experience so much rejection in the past that made them stop hoping.

The truth is, there is much to hope for even as we age. Hoping that someday all will go well or hoping for the next generations.

7 Ways To Overcome Setbacks

The above factors are causing setbacks over people in their 50s. Conversely, a setback is not permanent for anyone to bounce back from all the negativities around. So, here are seven ways to shake off what makes you fall in the past and to prepare yourself as you age:

Set Goals

Your comeback matters most than any setbacks. To make it into reality, there must be plans and goals set ahead. The life you live in the early years will determine your future. Do you want to save a lot of money?

Then, work on saving any amount while you are still having a job. Your habits during your younger years will direct you toward success in the 50s.

Work Passionately

Until your body can perform daily tasks, make use of it. No one is going to work for a lifetime unless you are immortal. Today you can choose a job you love doing not to lose track of the time. Make yourself productive without feeling drained by using your skill. People may start a business ahead of time to get support for the next few years.

Develop Healthier Lifestyle

Since sickness could be part of aging, aim to live a healthy lifestyle while you are young. Exercise regularly and eat healthy foods to prevent getting sick and stay strong physically as you get older. This will aid your comeback in the latter years instead of spending time and money on worthless pleasures.

Employer Benefits

Earning an income these days would be better off when it is gaining employer benefits. There is no one who will surely work for the rest of their life. Such benefits can help you not to worry about your basic needs in the future.

For example, preparing a retirement plan will benefit your family someday. Once you hit the retirement age, everything shall be settled down.

Track Expenses

Your spending now will speak a lot for the next months of your life. Doing a job is not about earning to spend right away for unnecessary things. Cut down your expenses to what really is important like monthly bills, rent, and other necessities. Settling for less is sometimes helpful to prepare for greater responsibilities in the future.

Savings Account

Like ants, we need to learn how to save before the rain falls. Your earnings today are not permanent, as well as your strength to work. Opening a savings account will keep your money that will grow each day. It could be a slow pace investment for yourself but will surely save your future.

Invest For Something

The right time to invest is in times of having plenty. Consider getting a house once you already have savings. It is a long-term investment that will cut down possible costs like rental fees.

Prepare an amount for maintenance, or avail a home with a warranty plan to cover up expenses. Choose a place that can reduce cost in the long-run, for example, a condo unit.

Overall, preparations are essential to survive every setback in life. Start young to avoid getting back on track when you get older. There are ways to guide each one like what is mentioned above.

Starting Over At 50 Tips

With all the reasons to stop living life to the fullest in the 50s, there are still ways to shift your mindset. Anyone can definitely achieve its dreams, regardless of time. To start over is indeed not a young-generation-thing but also for oldies. It requires great courage to experience life at 50.

Below is a rundown of tips to carefully manage your life once you hit 50, or 60, or 70, with no money:

Leave Your Past Behind

It is never too late to let go of the past. As we get older, those pieces of baggage from the past must have no place in your life anymore. They could slow down your race and that is something you will regret later on.

There is more worth living today than your past failures. Learn to let go of people, dreams, and habits that are not helping your growth as a person. Then again, there is so much the world offers you could grab even in the 50s.

Have a Fresh Perspective

A fresh start could be possible for individuals at 50. It begins with looking at things outside your limitations to turn them into reality. Most of the time, we are limited by our own limitations and doubts over things. You will be facing the same routines in months or years because of boundaries.

Try to step back and see different perspectives you can apply in everyday life. It is okay to break free from any limitations and start discovering new actions to improve life. A small change of outlook can make a huge difference to your journey even in the 50s. It can boost your confidence that you can still do new things.

Know Your Priorities

Living in the 50s will make your health the top priority, more than anything else. As a tip, let working and earning be your priority at a young age to prepare for the latter years of your life. Understand every step you take over the years and you will know what you value most.

Older ones may have a different set of priorities like taking care of kids or traveling around the world. They should learn to endure each process to still live life to the fullest, even with changing priorities.

Face Challenges

In reality, there will be solutions to every challenge we face. Nobody is ever exempted to encounter difficulties especially as we age. To reboot life, you will get uncomfortable at times because of new routines.

For instance, finding a job could be a great challenge in the 50s only if you are lacking education. That is the main reason why we must strive harder while we are young. It opens up many opportunities in the future.

Another challenge is living in a new situation just like after ending a long-term relationship. It will take a lot of adjustments and time of healing. This may also lead to being afraid of reconnecting with old friends and will rather choose isolation.

One way to overcome challenges at old age is to think of solutions, as there can be a lot of them. You can write down to-do-things until you get comfortable in overcoming any challenges the world throws at you.

Create New Ideas

Learning is a lifetime process. We can all learn something new with an open mind. Do not allow a life crisis to stop you from growing your skills. Each of us can take baby steps to move forward toward the goal, regardless of our age. Taking action can produce fruits no matter how slow it can be.

Identify where you are good at and develop that skill. You can start at zero if that is the case and use your talent to earn later on. Many people in middle age are still going after their dreams, and you can do it too.

There are best-seller books written by the age of 50, and you can start writing too. It will leave a reputation for years even when you leave the earth. Some may begin entering showbiz after the age of 50 and still earn popularity more than the young ones.

The lesson here is that learning and creating do not stop at the 20s. It can also begin in the 50s.

Do Freelancing

Outdoor jobs may not be suitable at the age of 50, but working from home is available. The chance of getting hired in a full-time job also declines these days. Freelancing is now emerging to save potential workers from the dying economy.

It offers a wide range of jobs that suit multiple skills and talents, based on experience and that is what old ones can boast.

The online world can offer several opportunities that require temporary workers. It also gives off huge salaries enough to support the basic needs. Most freelance workers are operating remotely to welcome individuals at home in getting a job.

To mention a few freelance works include writing, fitness lessons, accounting, marketing, video editing, graphic design, data entry, and social media ads. They can be found in online portals such as Upwork,, Fiverr, and many more platforms.

Start a Business

Putting up a business may not be possible without capital. It takes a lot of risk and effort to go into a new venture. Make sure to earn a profit before deciding to start a business, to be sure everything will fall into place.

Having a business is everyone’s dream at a young age. Hitting the age of 50 must not end that kind of dream. It is never too late to push through your ideas and takes a lot of courage to get started. Making plans and goals is essential over the next few months to keep going.

To give you an idea, consider what you love doing in making a business plan. Perhaps you are excellent at baking cakes, so then put up a cake business. There are many hidden opportunities you should discover to be successful in the 50s.

Stay Motivated

Some people in their 50s lack the motivation to continue living a worthy life. They might just stay at home doing nothing, but good habits can alter your attention on things that matter. Practice having daily reflections to still find your purpose. Anyone’s purpose will keep being alive when we are getting older.

Having no money is not a hindrance to your real purpose in life. Our life does not only revolve in having too much but also in days we are lacking. Keep this in mind!

Final Say: A Changed Story at 50

As we go over the internet, changing careers is really possible at 50. There are true stories that could inspire you to reboot life. Self-development is part of the process and forgetting your age for a moment can help you keep on improving. You will soon realize that starting over is not that easy but it is worth striving.

Most popular personalities today are never really on track at a young age. They also faced struggles on the way to success, or worst began at zero. These people have upheld that wholeness in life can be possible as we age. Success has no timeline and it does not disregard anyone.

Remind the elders today that they are still meant to endure life and be successful in the next years. It is never an easy journey but there are ways to live life to the fullest.

Thanks for reading!

Brian Lee
Founder of I like to write about self-improvement and achieving excellence, and believe that it is these qualities that ultimately make people successful in life.

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