Mike's Minute | Your Financial Roadmap: Financial Planning in Your 40s

Welcome to the third video in Mike's Financial Roadmap series. If your 20s were about laying the foundation and your 30s were about building balance, your 40s are when retirement starts staring you in the face.

This installment covers elder millennials and Gen X—the decades when financial planning shifts from "someday" to "soon." Reality check: retirement is closer than it's ever been, and the decisions you make now have major impact.

Financial Priorities in Your 40s:
Balance and Moderation Still Matter
Everyone's situation is very different, and no one is going to tell you exactly how much money you should have—everyone is different, but balance and moderation remain critical.

Retirement Savings Need to Accelerate
How much are you investing in your 401(k)? This is the decade to get serious about contributions.

The College vs. Retirement Dilemma
You may be facing the choice: college for children or retirement savings?
Remember: You can't borrow for your retirement, but your kids can still borrow for their college education.

Roth IRAs and Roth 401(k) Options
Consider the tax advantages of both.

Tax Planning for the Future
You've got to start thinking about tax planning now. Do you think taxes will go down or go up? Plan accordingly.

Stay tuned for financial planning in your 50s and beyond.

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Видео Mike's Minute | Your Financial Roadmap: Financial Planning in Your 40s канала LaPorte Financial LLC