Forties & Fifties

Entering your 40s and 50s may be the time to build on the financial success of your early adult life or make some corrections if you got off to a less than ideal financial start.

When it's time to start looking ahead

With your career and family life in full swing, this could be the busiest time of your life. With all this going on its easy to not concentrate on your finances and just let it all happen. You don’t want to miss out on any opportunities that may be available. You should consider:

  • Managing your debt – eliminate non-deductible debt to help grow wealth
  • Boosting your Superannuation, it’s tax effective
  • Paying for your children’s education
  • Protecting Yourself against financial loss
  • Protecting your financial legacy
  • Building other Assets outside the home

These years are where you will be earning a good income and your financial responsibilities may be reducing. Your family may be growing older and you will be thinking of how to cover the costs that are present, as well as how these will change in the years to come. Making a plan will help set yourself up for retirement.

Common Issues people just like you face

1.Not paying down enough debt

You may need to prioritize how you pay down your debt. You may have a home loan that you would like gone before retirement but may not get there.

2.No other assets other than the home

You may not have given any consideration to diversification of your assets. If you only have a home and superannuation, this may not be enough at retirement.

3.Superannuation not being utilised

This is going to be one of your biggest assets at retirement. Not making extra contributions to tax advantage of generous tax considerations is often neglected.

4.Not Reviewing Your Insurances

You may have commenced personal insurance like Life, TPD, Trauma and Income Protection previously however you have not check whether you are under or over insured.

5.Not preparing for your financial legacy

Quite often people are still without a Will and Power of Attorney which leaves them exposed if a significant illness or death occurs. They have also not considered who they want to receive their wealth.

That’s where we can help.
We can make sure you avoid the common pitfalls and take positive steps

Let us help with kick starting your financial journey.

Let Astute Guide You

We can help you make the right decisions considering your goals and concerns. We will make a plan with you that considers all the things you are worried about now, and also help you consider the upcoming retirement years. We can be by your side when you make decisions as things change. We will ensure you receive the right help at the right time.

We can take a look at how you are dealing with excess cash flow. You may want to start building other assets outside the family home to growth wealth. We can assist with a well-diversified investment plan to help you build more wealth for the future. You may also wish to pay more off your non-deductible home mortgage if appropriate.

We will help you so that if an unexpected event occurs, like a medical event, you can still meet your financial commitments. We will review your strategy to ensure it includes adequate protection and advise if you need this to change. As you have built up your assets and may have a lot to lose, your continuing protection plan will make sure you can still meet mortgage repayments and other lifestyle costs. We will also help you plan if you were to pass away so that your spouse, family, and financial legacy are looked after. Considering you have worked hard so far, you need to have certainty that your assets are passed to the right people via your Will.

Transition to Retirement Guide

We can discuss your existing superannuation fund (or funds) and give advice on how to handle fees, risks and contributions. It’s not all about the fees, as the strategy to build more leading up to retirement is crucial. We can help with strategies to increase how much is being put into your fund (like salary sacrificing, spouse or Government co-contributions) so you can benefit from the long-term effect of compounding in a low tax environment.

When considering the future, it make sense to review from time to time what plans you have in place. We will keep you on the right track so you can live the life we want, and also provide a more solid financial future.

Success Stories

Forties & Fifties

Todd and Michelle came to us when they were in their late 40’s. Even though they had made a good start by reducing their mortgage, they still needed to consider their children’s remaining high school education and lacked having a clear plan about how things will look in ten years or more. We helped them put in a plan to deal with their concerns. We reviewed their existing insurances and modified some amounts, so they were properly protected. Now they can sleep easy knowing all life’s bills will be taken care of if they can’t work or someone dies.

They have received advice on how to invest outside the family home, so they have wealth not just inside their superannuation account. They are also now taking advantage of superannuation rules so that they are maximising their contributions into the future. They hopefully will retire earlier than expected so they can enjoy their lives. They still have a good lifestyle as we’ve budgeted for trips over the coming years and they know how these fit into their retirement plans.

Todd and Michelle are much happier as they still enjoy the lifestyle they love whilst having more certainty about their financial future.

We know it's difficult to get started that's why we offer a no obligation discovery chat to help you take the first step.