Turning point: Retirement planning for your mid-50s

Stop chasing returns and focus on protecting capital through stability, liquidity, risk control

- Anagh Pal

As people enter their 50s, financial priorities often undergo a quiet but decisive shift-from chasing returns to safeguarding what has already been built.

With fewer working years left and retirement drawing closer, stability, liquidity and risk management take centre stage.

Nishith Vasavada, 50, is a travel entrepreneur with a background in aviation and corporate travel. His wife, Yuga Vasavada, 49, is a working professional. The couple have 20-year-old twinsAnarv and Arnee Vasavada-and their financial planning now places greater emphasis on preserving capital and ensuring predictable cash flows in the years ahead.

"In your 50s, the biggest risk is no longer low returns but a sharp market fall just before retirement, when there is very little time to recover. That realization changed how I approached my investments," says Vasavada.

On the other hand, Udayendu Lahiri, 54, a creative industry consultant, does not see retirement as a fixed milestone. His wife, Sagarika Chatterjee, 49, an HR professional, manages long-term investments while he handles daily expenses. With 11-year-old twins, Yushan and Aleya, their planning balances present needs with steady saving, flexibility, and regular investments through mutual funds and Ulips, while preparing for future education.

Retirement planning is very different across households. Yet, the need for deliberate planning remains universalmanaging risk, protecting savings, and ensuring financial stability through the crucial years leading up to retirement.