Personal finance strategies by age

Your financial strategy should change as you age. Here is a general guidline for each stage of your life.

Earn, growth Invest and save in your 20’s

Your twenties should be focused on:

• earning money.
• investing in a long-term diversified growth portfolio.

Earn, growth invest, leverage and reduce in your 30’s

Your thirties should be focused on:

• Earning money.
• Investing in a long-term diversified growth portfolio.
• Using some of your earned capital for a property deposit if buying a property is part of your financial goals.
• Paying down your mortgage.

Earn, income invest and Reduce in your 40’s

Your forties should be focused on:

• Earning money.
• Weighting your investment portfolio towards income (dividend) earning shares and ETF’s whilst remaining diversified.
• Paying down your mortgage.

Earn, income invest and Reduce in your 50’s

Your 50’s should be focused on:

• Earning money.
• Investing in an income earning portfolio.
• Paying off your mortgage.

Debt free income living in your 60’s

Your 60’s should be focused on:

• Earning money if you still wish to.
• Living off the income streams from your investments.
• Living debt free.