Your 40s can be a financial turning point: your finances may be in a better shape than earlier in life but this is the age when people are likely to be raising a family, trying to climb the property ladder and invest for their future and retirement.
It's an age when you may have reduced personal debts, but borrowed big on a mortgages; have a decent savings pot but are keen to invest it to work harder, are on higher salary but feel like the bills just keep coming.
It's an important decade as this often marks the halfway point between entering the workforce and retirement age - and a time when people are nearing peak earnings and a lucky few are within a decade of clearing their mortgage.
Finances in your 40s: Are you financially fit at 40 or do you still have some way to go?
While you may be better off than you were in your 20s or 30s, and financially savvier, pts terbaik sumatera there are still mistakes you could make that may undo all the hard work that has got you to this point.
The decisions you make, investments you take out now and financial products you choose may have a great impact on your future wealth and retirement nest egg.
So what does someone in their 40s need to consider financially?
Whether you go down the route of professional financial advice or do it yourself, here are eight things a financial adviser would discuss to ensure you stay on track for your financial goals.
1.
Are you working towards your pension goals?
One of the main reasons to contact a financial adviser when you're in your 40s is to ensure you're on track with pension savings.
People generally delay saving for retirement or underfund pension pots. Fewer than two in five people are on track to achieve the moderate level of income highlighted by the Pension and Lifetime Savings Association retirement income targets, according to Hargreaves Lansdown research.
Reena Mistry, a financial adviser, says emergency funds are vital and should cover four to six months' expenses
The PLSA standards say a single person would need a retirement income of £20,800 per year to achieve a moderate standard of living while a couple would need £30,600.
If they want a comfortable retirement then those figures rise to £33,600 and £49,700.
This includes the state pension which can be worth up to £9,340 per year per person.
For those aspiring to a comfortable retirement, that leaves an individual needing £24,260 or a couple needing £40,360 to bridge the gap.
Based on a 4 per cent annual income rate, this requires pension pots of £615,500 for an individual, or £1,016,000 for a couple combined.
That's a lot of money and requires some serious saving.
There are many factors to consider when it comes to your pension. Pension savings should be determined by the age that you want to retire, how much you expect you'll need in retirement and what other assets you have that could contribute to your income.
If you don't have a pension set up yet, you should first become a member of your employer's workplace pension.
Reena Mistry, a financial adviser, says: 'As an employee, you are automatically enrolled into a workplace pension scheme if you meet certain criteria.
'Outside of this, there are plenty of other options which a financial adviser can guide you through based on your affordability.
'The amount you put in depends on how much surplus income you may have, but no matter what the amount, the important thing is to start a pension and start contributing.'
Don't just stop at the auto enrolment amount, many companies will be more generous if you pay more in.
Adam Walkom, partner at Permanent Wealth Partners adds: 'Many employers offer a "matching" scheme where they will increase their contributions if you do yours.
These are normally great.
'The big caveat with all pension contributions is that you cannot touch these funds until you're at least 55, so whatever happens they're stuck in there.
'Now, that's fine, but people need to be aware of this so they don't over-contribute just to be tax-effective and leave themselves stuck.'
If you're self-employed, you can set up your own pension fund.
Joint purchasing power: The PLSA looked at how a couple could use retirement income - the extra purchasing power helps reduce costs to less than double single income
2.
Have you set up an emergency fund?
Everyone, regardless of age, should have an emergency fund to fall back on. This will help to ensure you don't take money from other vital pots that may be dedicated to other things like your children's education.
Mistry says: 'The emergency fund should be in the region of four to six months' expenses, and this provides an important buffer should anything unexpected arise.
'If you don't have an emergency fund, you can start to build this up by putting money towards this each month.
'By carrying out an exercise to see what your income and expenditure is, this will give you a good understanding as to how much money you can start putting aside for savings, investments, and pensions.'