Life Stages: Simple priorities for your 30’s, 40’s, 50’s and 60’s

Life changes fast. Financial priorities shift as careers develop, families grow and retirement nears. Below are general priorities that we often see throughout a client’s life cycle. This is a general guide — your circumstances may differ, so seek tailored advice where needed. 

30’s — build the foundation
Focus on habits that compound: saving regularly, reducing high cost debt and protecting your household. 

• Set clear goals: short (1–3 yrs), medium (3–10 yrs), long term (retirement). 
• Hold 3 – 6 months’ essential expenses in an accessible account. 
• Prioritise paying high interest debt (such as credit cards or personal loans); service mortgage responsibly. 
• Automate investing into a diversified portfolio. 
• Check super contributions and consider salary sacrifice if suitable. 
• Put insurance cover in place and create a will; nominate super beneficiaries. 

40’s — protect and progress
Earnings may peak while responsibilities rise. Protect what you’ve built and ensure you stay consistent with the plan. 

• Revisit goals and timelines (education, home upgrades, retirement). 
• Consider catchup super contributions and other relevant strategies. 
• Review insurance cover to match current liabilities. 
• Balance mortgage reduction with continued retirement saving. 
• Update wills, powers of attorney and binding death nominations. 

50’s — accelerate and derisk
With retirement near, aim to be debt free and accelerate your investing. 

• Begin to consider repositioning your assets 
• Use superannuation strategies where available. 
• Gradually increase income producing assets while keeping growth exposure. 
• Review succession planning with your relevant professionals. 

60’s — secure income and finalise arrangements
Convert assets into a retirement income stream and finalise legal/health arrangements. 

• Commence your income stream 
• Rebalance to preserve capital while allowing modest growth for longevity. 
• Seek tailored advice on government entitlements (if applicable) 
• Finalise wills, enduring powers of attorney and binding nominations. 
• Budget for health and agedcare  
• Plan gifting/legacy with tax and timing in mind. 

Four simple rules for every decade 

• Automate savings and investing — consistency beats timing. 
• Measure progress against personal goals, not daily market moves. 
• Review your plan after major life events (marriage, separation, new child, job change, inheritance). 
• Use professional advice where complexity, tax or emotion is involved. 

Financial planning is an ongoing, adaptable process. Small adjustments across decades deliver the biggest long term impact.

Any financial product advice provided in this blog is general in nature.  It does not take into account your needs, financial situation or objectives.  Before acting on the advice, you should consider whether it is appropriate to you in light of your needs financial situation and objectives.