They say life begins at 40, perhaps because many feel like they have made it – kids, house, nice car, nice career: it all seems to be coming along nicely. It’s almost like you got life figured out. Some consider changing career to something more fulfilling, as it seems that this is the last chance. Any later and you’re too old and may find it difficult to find anything at all, let alone the job you’ve always wanted.
These have become the baby-making years. In 2013, a total of 308,065 babies were born to women with median age of 30.8 years. This is also the time you’re most likely to be putting that big red SOLD sticker across a sign on the front of a house you just decided to live in. Which coincides with the time you signed up to having a very large weight strapped to your back, otherwise known as mortgage. This is a scary time in people’s lives as they usually have little knowledge of what they should be looking for in a lending provider or even loan itself.
You are going through a very exciting and full-on time in your life. You have no concerns and live life as it comes. This decade is party season! Many 20-somethings are living at home with their parents, if they can stand them, with no view of leaving. Instant satisfaction is a must and if you’re not getting it, you move one. You may end up with a few jobs under your belt, but if you’re not careful the endless list of positions on your resume can be a deterrent for the job you’ve dreamt of having your whole life. Today’s 20-year-olds are very different to any before.
Take the right steps and you and your family can enjoy financial security. But you must anticipate your changing needs. Our panel of experts tells you how to plan for each decade, and Teresa Ooi spoke to real life couples.
Paying for professional financial advice is much the same as paying other types of professional services. It comes down to the size and complexity of the issues that you want to solve. Simple problems cost less than solving complex ones. Financial advisers have moved from selling products and receiving commissions to the more transparent fee system. Here’s how you can work out what you should pay.