If you’re in your 40s, you’re in the thick of it. Your career is demanding, family life is full, and the pace of life isn’t slowing.
But this is exactly why right now is a critical time to put a plan in place for your finances. Planning in your 40s can put you WAY ahead or result in you playing expensive catch-up later.
Here are a few priorities worth your attention:
- Protect your energy. Your health is your greatest asset, don’t let stress steal it
- Review your taxable investment accounts. Are they growing and working as hard as you are?
- Once your non-qualified account hits $100k, consider a securities-based line of credit to enhance flexibility
- Roth vs. Pre-Tax: As your income rises, reevaluate your contribution strategy
- Start thinking about long-term care insurance now (waiting limits your options)
- Set benchmarks. Aiming for $500K in your non-qualified account by age 50 is a solid goal for many
This stage of life is all about alignment: Aligning your time, energy, and financial strategy with what matters most to you and your family.
If we’re not currently working together and you don’t have a plan in place yet, or if it’s been a while since you’ve updated it, now’s the time.
Let’s talk. We’re here when you’re ready,
—Nic
A couple notes:
*If you have friends or family that might find this helpful, please forward this their way.
**If we’re not yet working together and you’re already working with an advisor but have considered making a change, please know that we help people do this all the time. It’s a simple transfer process that can be done without you having to be involved at all (if you like).
