Entering your 40s brings about financial changes. You may notice an increase in your salary, but also a rise in expenses. This period often involves significant life events such as relocating to a bigger house, considering second home acquisitions, managing children’s education costs, navigating career transitions, and experiencing the loss of family members.
In your 20s, the focus was on laying down the groundwork for your finances and forming positive habits. Then, in your 30s, major life changes such as marriage, parenthood, and career advancement can take up much of your time.
In your 40s, managing teenage children, aging parents, and a career with limited spare time can be challenging.
You have plenty of opportunities in your forties to safeguard your finances and support your family, well before you start planning for your later career and retirement in your fifties or sixties.
Read our Generation Guide for your 40’s for our tips on how to start with a financial plan to put you on the right path for your 50s and 60s.
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