Investing in your 40s can be the difference between retiring on your own terms and relying on your children for financial support. Determining how to invest in your 40s requires a strong financial plan and a willingness to try new things so you can be as carefree as the retirees you see leaving the workforce ahead of you.
The 40s are the unsung decade. Wedged between the more illustrious 30s and 50s, they’re often overlooked when discussing financial planning milestones – or really any milestone. Who makes a hoopla of turning 40, after all?
But the 40s are a “critical and opportunistic time in people’s financial life cycle,” says Michael Farrell, managing director for SEI Private Wealth Management in Oaks, Pennsylvania. Your financial future depends on finding the “right mix between earning, spending, saving and your investment time horizon” in your 40s.