Harness your peak earning years to achieve important financial goals, with the right mix of asset building strategies.
During their 20s and 30s, most people focus on the basics of financial security: families, first home deposits, super contributions and personal investments.
By the time you reach your mid-forties, things have usually changed. You’ve progressed in your career and you’ll typically see your salary and net worth rising, along with your living expenses. More importantly, you are just about to enter your peak earning years. In terms of building assets, these can be your golden years so it’s important you plan to use them effectively.
Sorting out the options
This is a period of many options, and a few risks. Should you concentrate on paying off your mortgage? Reducing your tax? Building your personal investment portfolio? Making a career change? Investing for a more comfortable retirement? Or a combination of these strategies?
Finding the right answers means some serious thought about what your life and investment priorities are, and sitting down to talk with your financial planner may help. The answers are different for each of us, and getting them right is the key to maximising the financial possibilities that these peak earning years present.
Putting your plans together
As this story suggests, there are many situations and options that people have in their asset-building years. An important first step is to take stock and develop your own ‘shopping list’.
The decisions and the changes start with you, and we’re here to help. So, please call us today.
 Financial fitness for the over 40s. (2011). steadyfinance.com.au/financial-fitness-for-the-over-40s.html
What you need to know
This article contains general information only. It does not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances. If you decide to purchase or vary a financial product, your financial planner, our practice, AMP Financial Planning and other companies within the AMP Group will receive fees and other benefits, which will be a percentage of the premium you pay and/or the advice fee you agree with us. Some of the information in this article is based on our interpretation of the law. It is a summary of the subject matter covered and is not intended to be comprehensive tax or financial advice. No reader should act on the basis of this article without obtaining specific professional advice. Further details are available from us, or AMP Financial Planning Pty Limited on telephone 1300 157 173.