It's time to take control of our finances. Our 50s present us the golden time to get a clear view of where our lives are heading.

First and foremost, we must start preserving capital via bonds. As much as we love growth vehicles, we must begin to shift toward building a financial foundation outside of risk assets.

Stocks will play an essential part in our income solution. We need income from the stock market more than growth. The goal is to generate enough dividends to fund our retirement dreams.

Finally, we cannot depend on social security to outpace inflation; therefore, we must do it ourselves. Options trading can help us stay ahead of inflation and cost-of-living adjustments while opening up other opportunities.

Overall, we can use a tiered approach to income generation, wealth creation, and capital preservation to extract what we want from capital markets. Good Luck!