Your financial life deserves a closer look
For many, turning 50 represents a significant moment of self-awareness. It’s also a time when uniquely successful individuals become aware that their financial lives have become complicated enough to deserve a closer look.
This checklist defines the financial concerns specific to you as you move into your mid-career. You are established and have slowly accumulated your wealth over the years, so now it is time to look ahead and plan accordingly.
mid-career financial preparedness checklist
For many, turning 50 represents a significant moment of self-awareness. It’s also a time when uniquely successful individuals become aware that their financial lives have become complicated enough to deserve a closer look.
Some people achieve a unique level of success and face increasing financial complexity long before they approach midlife. Often, this is the result of receiving an inheritance or selling a business. However, most people don’t achieve meaningful wealth until they approach or enter their 50s. This wealth usually occurs through a regular contribution to investment accounts coupled with accelerating career success. Because the assets accumulate gradually, there’s no single event people experience that represents a wakeup call about the need to address their financial plan.
Children have grown and left home or are in the process of leaving. Family life is being redefined, and careers are reaching their most productive period. Real estate values and portfolios are also accelerating over time. The 50th birthday is often the catalyst for the classic midlife crisis when the structures of life are called into question and major shifts in personal values are considered.
Your Heron Wealth advisor has advised many individuals and families on how to negotiate these transitional years.