Rich At Any Age - Your 40s
Day 3 of the series Rich At Any Age - A LifeCycle Guide To Personal Finance puts you at a fork in your financial path. You’ve dug yourself out of the crammed life of your 30s. But how would you react to the next decade of your life? It’s no wonder that mid-life crisis usually begins at the beginning of your 40s! Remember to supplement this article by reading the related MoneySense.ca articles!
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Your 40s are the years when you finally begin to see the fruits of your hard work. But not everyone reacts in the same way. On the one hand, you may find yourself becoming more cautious as retirement draws closer. On the other hand, you may feel that after two decades of working hard to advance in your job, you deserve a year away from the office. Maybe you’re in a new relationship and dealing with the fallout of the first one. Or maybe you’ve saved a bit of money and are looking to build your wealth as a landlord.
Whatever your situation, you can no longer use youth and inexperience as excuses for not saving enough. As you try to find the right balance between enjoying your money now, investing it for the future, or worrying over whether you have enough, it’s natural to fret. But relax. As we’ll explain in this section, you probably don’t need to make drastic changes to meet your goals. In fact, all you need to do is take the wisdom you’ve gained in the first half of your life and use it to plan for the second.
Related MoneySense Articles
- A Million Dollar Myth - Duncan Hood
- 52 Weeks’ Vacation - Camilla Cornell
- Rental Health - Allan Britnell
- Back From Splitsville - Camilla Cornell
What’s in store for your fabulous 50s? Come back tomorrow and find out!
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