The forty has reached the top of career. Few forty can get the manager level position while most of forty just ordinary clerk. If they married at twenty, they would have some teenager who need college fee. At the forty, they need more money than the people in thirty.
Here are some financial advices for the forty:
1. The retirement is still the main of financial planning for forty. The forty can still contribute the money to the their retirement fund. Some people prefer retire early at forty. They must have much cash to finance theirself.
In my country, the company often retire the worker who has reached 45 old years. They do not want to employ the old man that cannot work fast.
The forty must need the safer investment. They can decrease the risky investment at their portfolio. Today, the share market is not good due to the economic crisis. Most company try to survive with the economic tight. That is why they do not pay the dividend.
They can save the money to gold, silver or other precious metal in order to keep the value of their money.
The forty must need money for kid college or school. They have to spend those money for the kid.Surely, they must save the paycheck for the other child if they have more than one child. Without a good education, your kid could not find a good job.
4. Find other income source
As a experienced worker, you may find other source money. The employee often open a business to increase the cash stream. They can open a consultant firm. Some company may hire you to finish the project.
The easy income source is internet. Some employee create a blog to make hundred or thousand dollar a month. This is not a heavy job. You just need one or two hours a day.
5. The financial planning also emphasize on reduce the spending. By reducing the spending, you can save some dollar a month. Cleverly find some ways to reduce the spending.
You do not have to own the luxurious car though you are able to buy it. There are a lot things that you can do with the money. If you have excess money, why do not invest it. Why do not help other people?
The forty should have to own the house. As become older, you need a permanent shelter. You do not need to move from one apartment to other apartment.
The financial planning is a continuous activities. The financial planning for 40 will determine the next financial planning, while, the financial planning at forty are determined by previous financial planning.
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