Financial advice in your 40s and 50s

With your career and family life in full swing, your 40s and 50s could be the busiest years of your life.

With so much going on, it’s easy to slip the finances into cruise control and just ‘get by’.

The danger of this approach is that you could be missing out on vital opportunities to improve your quality of life – not just now but in the future.

What financial advice can do for you

A financial planner can help you take control of your finances, recommending a range of strategies that will help set your family up for the next phase of your life.

Some of the common ways a financial planner may be able to help include:

  • Managing your debts – helping you eliminate non-deductible debt and use deductible debt to grow wealth.
  • Building assets outside the family home – helping you use some of your disposable income to build wealth for the future that’s not tied up in the family home.
  • Paying for children’s education – putting a savings plan in place to ensure you’re able to support your children the way you want to.
  • Boosting your super – using a salary sacrifice strategy to help reduce your taxable income and grow your long-term savings.
  • Protecting your lifestyle – reviewing any existing life insurance you have and making sure your income and dependants are protected if you become seriously ill or injured.

Not all of these strategies will apply to everyone. But the benefit of seeing a financial planner is that you can get personal advice that’s tailored to you – so you can be confident you’re making the most of your opportunities.

Articles on Financial Wellbeing

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Important Information

Important Information

This article has been prepared by IMB Bank and contains general information only. It is not intended to be relied on as advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal,  financial, taxation or other professional advice before you make any decisions about your business. Consider the relevant Terms and Conditions or Product Disclosure Statement and Target Market Determination available here before deciding whether to acquire any products or services offered by IMB Bank. Lending criteria, terms and conditions, fees and charges apply to IMB loan products.

IMB Financial Planners are Representatives of IMB Financial Planning Limited ABN 23 094 730 195 AFSL 234 660. IMB Financial Planning Limited is a wholly owned subsidiary of IMB Ltd trading as IMB Bank ABN 92 087 651 974. Australian Credit Licence/AFSL 237 391.