Increasing & stabilising in your 40s to 60s
Potentially the strongest income producing time of your life.
Now is often a great time to plan to accelerate your wealth production and prepare for the next phase of your financial life. This is historically the strongest income producing phase in your life where you can really get ahead.
For those starting again, you cannot afford to get this next step wrong because there may not be sufficient time to recover from the financial strain of a separation, a rushed investment decision or simply letting your income protection insurance lapse because 'you have made it this far'.
No one wants to have to delay their retirement untill age 70 because you simply cannot afford to retire!
Here are some common situations that people such often find themselves (or their friends and family) are experiencing.
- This is a great age in life and perhaps you are able to relax a bit more now as your debts are under control and the kids are doing well in school. Perhaps your'e now able to pursue your passion and are enjoying the new insights that perspective brings. Perhaps life hasn't gone quite according to plan.
- You’re hoping to pay the mortgage off with your super and cross your fingers you can survive on a pension
- You now regularly mind your grandchildren and you worry about where the money is going to come from for their schooling and their future
- You’ve just started a new relationship with a new financial situation (lots of thinking required there)
- After 2 failed knee replacements you now have to walk with a stick – it’s painful to climb stairs, let alone walk on the beach!
- Your adult children are coming back to live with you, maybe with their kids, while they ‘get it together’
- You realise that you need to protect your ability to earn an income so that you can put money into your super so you will be able to retire.
- Perhaps your retirement is a long way off. Maybe it’s not. Perhaps you feel that your time is running out. The good news is, that if you get serious now, we can help you put a pre-retirement strategy in place.
Maybe you're over 60? Great! Sapience can help you with income stream and retirement advice too. Contact us today for a chat - get your questions answered and take the next step towards the peace of mind that comes with a secure financial future!
- For Australians aged 25-29 who live in their parental home, more than half of these (54%) have moved out and returned again.
- Most (52%) last less than 2 years before moving back to the parental home, with 20% lasting less than 1 year.
- Meanwhile 16% last more than 4 years before returning home.
- Two-thirds of Gen Yer's who return to the family home do so because of financial problems.
- An emerging issue that now affecting many older Australians with grandchildren is that today 10% of all grandparents are now raising their grandchildren.
Are your children the new Boomerang Kids?