Thriving in your 40s

FINANCIAL SECURITY: SET THE STAGE FOR A COMFORTABLE RETIREMENT

- Frank Walsh

→ Here's a deep dive into smart strategies to help you build financial fortitude.

Welcome to your 40s! You've probably settled into your career, and maybe your family is growing, too. Understanding that you're in a unique financial position, this decade is a prime time for building wealth and securing your financial future.

The moves you make now can set the stage for a comfortable retirement and financial peace of mind. Let's dive into some smart strategies to help you thrive in your 40s.

Maximise retirement contributions: Supercharge your savings

By now, you hopefully have some retirement savings either privately, from an employer, or both.

A scary number of South Africans do not save for retirement, so start by making sure you're not a statistic. Once you have a retirement annuity or similar in place, your 40s are the perfect time to ramp up those contributions.

You'll also want to resist the urge to tap into those savings if you change jobs or via the two-pot system. Consult a financial advisor to ensure your investment strategy aligns with your risk tolerance and retirement goals.