However, raising up children during this decade may be more difficult compared with other seasons because by this time, children are going to schools, especially if they attend private schools. So, strictly sticking to a working budget is very necessary. On top of that, forty-something people should continue expanding their investment portfolios.
A good alternative investment is to divert some more cash in superannuation because it is tax effective. Although the funds in super are locked up until several preservation rules are satisfied, they are a good investment for the early fifties. At 55, an early retirement may be enjoyed and financial freedom is more secured.