3 financial "must do's" in your 30's and 40's

February 18, 2021

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Between work, family, friends and all the other tasks that keep us busy, financial things can easily be forgotten. So, to make it easy for you, we’ve put together some ‘must do’s’ for this stage of your life that we think are important.

Grocery shopping

Get prepared in case things go wrong

Life doesn’t always run to plan, so at some point you may need to deal with financial bumps in the road like sickness, job loss, or injury. One of the best things you can do in your 30s and 40s is prepare for these unexpected events by having the right level of insurance. 

What insurance measures have you got in place?

You may have insurance through your super that can help. Log in to SuperOnline and see what insurance cover you currently have.

Before making any changes to your insurance, try the Needs Calculator to help you understand how much cover you might require, and get an estimate of how much it will cost with the Premium Calculator. 

Keep an eye on the future

When you are in your 30s and 40s it can be easy to get caught up in the financial priorities of everyday life—mortgage, school fees, bills, repeat. But, always living in the now might mean you are never looking at life further down the track. 

What do you want for your future self? How are you going to get there?

Think about setting some medium and long-term goals. Write them down and decide on what’s needed to get them on track. Your goals will change every now and then and that’s fine. Having them is what’s important as this will keep you focused on achieving financial security. 

When in doubt, seek advice

If you’ve got some savings but are unsure what to do next, or you’ve had a major financial change like divorce or a redundancy, why not talk to the experts. 

Getting financial advice in your 30s and 40s can make you feel more financially confident and in control, and it can really make a big difference to your future. It can help you:

  • create strategies to achieve your financial goals
  • build long-term tax effective savings not just within super
  • avoid expensive mistakes
  • protect your family if something happens to you so they have ongoing financial security.

As a TelstraSuper member you can get general and simple personal financial over the phone as part of your membership. Or if you want more comprehensive personal advice you can make an appointment with TelstraSuper Financial Planning. They have a range of advice options available for a competitive fee and the first appointment is complimentary.

Simply give us a call on 1300 033 166 or request a call back.

 

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Any general advice has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice, you should consider whether it is appropriate to your individual circumstances. Before making any decision, you should obtain and read the relevant Product Disclosure Statement and Target Market Determination or call us on 1300 033 166 for copies of these documents. You may wish to consult an adviser before you make any decisions relating to your financial affairs. To speak with an Adviser from TelstraSuper Financial Planning call 1300 033 166.