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Build Wealth. Bury Debt.

Live well: Build wealth and bury debt

Build Wealth. Bury Debt.If you’re in your mid-thirties to mid-forties, you might be so busy getting through today that it’s hard to give much thought to tomorrow. But life can be more than making ends meet.

Chances are you’re busy with a career and children and juggling demands and debts. Maybe you’re renovating, looking to upgrade the home or investing in quality education for your children. It’s a time full of financial pressures but also opportunity – opportunity to make your money work smarter for you and secure financial peace of mind.

Getting more from your 30s and 40s through debt management

At this stage of your life, responsibilities tend to grow and so can your expenses. Concentrate on reducing or eliminating non-tax-deductible debts like your mortgage, credit cards and personal loans, giving debts with the highest interest rates the highest priority. It might also pay to consolidate your loans under one lower interest rate.

Remember often the after-tax return on many investments can be less than what you’re paying in interest on your mortgage, in which case paying off your mortgage sooner you can make hefty savings in interest payments.

Contact Ashley Tilston* on 02 9258 1295 or email ashley@spectrumwp.com.au for more information.

* Ashley Tilston is a financial adviser at Spectrum Wealth Partners Pty Ltd. All advisers are Authorised Representatives of Spectrum Wealth Partners Pty Ltd ABN 27 063 536 125 AFSL 478589.

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This information is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Spectrum Wealth Partners Pty Ltd strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.

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