Make these Financial Moves in Your 40s – Ep# 40

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Make these Financial Moves in Your 40sOnce you hit your 40s, it becomes more important than ever to evaluate your financial plan and fill in any gaps in your future. Many of the planning tasks can be tedious or seem unimportant now, but you will thank yourself later when you look back on your conscious and careful financial decisions. Life throws a lot of curveballs and it’s easy to get busy and forget to keep your plan up to date. But taking time to get your ducks in a row will save you a lot of stress later on.

On this episode we share a few things that are of utmost importance to get planned and figured out in your 40s. Taking advantage of your savings and investment options, planning around supporting others, consciously investing in yourself, and avoiding danger zone areas are all important topics we discuss. Paying special attention to these areas will truly impact your long-term financial situation in a positive way.

Facts and Links Mentioned In the Show

What You’ll Learn in This Episode

  • How to begin with the end in mind so that you can make better financial decisions along the way.
  • How to avoid the financial creep by setting up systems to combat it.
  • The importance of knowing all of your savings and investment options in order to save more efficiently.
  • Why you shouldn’t put off setting up and updating insurance and estate documents.
  • How to plan for supporting others while still saving and investing in your retirement.
  • Why investing in yourself is still extremely important at this stage of life.
  • How to set up a good defense to weed out dangerous investments and mid-life crisis purchases.

Copyright: zerbor / 123RF Stock Photo

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Mike Eklund

Mike Eklund is a CERTIFIED FINANCIAL PLANNER™ practitioner. In addition, he has an MBA in Finance and the Chartered Retirement Planning Counselor designation. He is an active member of NAPFA, is the co-host of Financial Symmetry's podcast, and has been quoted in various industry publications.

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Chad Smith

Chad Smith is a Certified Financial Planner™. He is an active member of NAPFA, the Financial Planning Association, and FPA's NexGen. He has been quoted and appeared on WSJ.com, Bloomberg.com, Businessweek.com, Msn.com, Financial Planning Magazine, Triangle Business Journal, and Investment News.

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