The 4 cornerstones are pretty much the same, regardless of your age or life stage. You still need to balance and manage debt, investments, super and have an appropriate safety net in place. However, their relative priority evolves as your personal circumstances change. For example, getting set with the right retirement income stream structure and establishing an effective way to transfer assets to the next generation are likely to be higher priorities for you at this stage of your life.

 

Putting in place a comprehensive financial safety net is all about peace of mind for you by preserving your loved ones’ living standard should something happen to prevent you providing for them. Your insurance needs are likely to require a complete review. A number of personal risk policies expire when the person insured reaches 65. But your need for protection may not have gone away at that stage.