What should you be considering in your financial plans for 2025? Here’s our guide for every age and career stage

When it comes to financial planning, many Australians automatically think of retirement. However, financial planning is about setting you up for success at every age. And in most cases, the earlier you start, the better the long-term outcomes. Here’s what you should be thinking about in 2025 based on your age and career stage.

Your 20s

Your 20s are about experiencing life with an income for the first time, and the benefit of financial planning is that it is about balancing your current lifestyle and getting yourself in a good position for the future.

This is critical in your 20s when, typically, you have less debt and financial responsibility, so you can build valuable foundations while enjoying your life, too.

Key areas to look at include:

• Working out what’s most important to you. In this decade, it’s important to align your money goals and your values.
• Knowing where your money is going at a detailed level. Create a budget to build the foundations for healthy spending habits.
• Getting started with investing. Even if it’s small amounts, learn how investments work and how to grow them over time.
• Building financial literacy. Knowledge is power when it comes to your finances, so get advice from a financial planner as soon as you can.
• Investing in your future earning potential. Build your career path and set the course for the future while you have time to focus on yourself.
• Shaping your impact. Give time to the causes that are close to your heart through volunteering or fundraising activities.
• Protecting your future with income insurance. You don’t know what is around the corner, even if you are fit and healthy, so it’s never too early to take out income insurance.

Don’t forget your superannuation. If you put an additional $50 per month into super now, at 7% earnings, these additional inputs alone will grow to $131,240 by retirement age. (Calculated using Moneysmart’s Compound interest calculator).

Your 30s

In your 30s, you are likely starting to think more about the future and what you want out of life. That might be a house in your desired neighbourhood, starting a family or building the lifestyle you want.

Key areas to look at include:

• Responding to changing values and needs. Set new financial goals as your priorities change.
• Working your way up the career ladder. Build new skills and continue your education, whether formal or informal.
• Getting on the property ladder. While a first home purchase means taking on the single biggest debt you will ever have, it’s better to do this sooner rather than later.
• Building up emergency funds. This allows you to quickly access at least 6 months’ salary to cover emergencies as your financial responsibilities increase.
• Starting to save now for longer-term lifestyle goals. Put some money aside, whether it be for children’s education, preparing for career breaks or planning to reduce your mortgage.
• Getting serious about investing. This will play a significant role in funding your life goals and securing future income streams.
• Giving back to the community may remain important to you. There is often a shift from volunteering your time to giving small donations as the pace of life and responsibilities increase.
• Protecting your future and your loved ones. Ensure your income and life protections are adequate for your increasing financial responsibilities.

Your 40s

In your 40s, you are more likely to have more debt and financial responsibility than at any other point in your life, and it can be busy as a result. Your career is likely to be in full swing and you may have a hectic family life.

The right financial plans can help you navigate this time and stay on track for the future. 

Key areas to look at include:

• Using your money to support your lifestyle. In this decade, your outgoings will most likely be the highest they have ever been.
• Setting up future income streams. While spending may be high, it’s important to keep an eye on the future, thinking about how your investments will produce income streams.
• Taking a more active role in your super. With retirement on the 15–20-year horizon, it’s not yet time for a defensive strategy, but it’s important to ensure your super is structured to weather financial storms.
• Continuing to support the causes that are important to you. You are far less likely to have time to volunteer in your 40s, but you can think about structured giving to those causes that have meaning for you, such as sponsoring a child or taking part in a regular giving program.
• Making your estate plans. You’ve likely accumulated assets by this decade, so it’s important to know they will be distributed to your loved ones if something were to happen to you.
• Reviewing insurances. As your assets, salary and possibly your family have grown, it’s important to make sure your insurances are adequate to cover you or your family’s lifestyle if they were to lose your income.
• Buying happier time by outsourcing things you don’t enjoy: In this decade, you’ll be incredibly busy – maybe the busiest you’ll ever be – so it’s essential to be realistic about what you can do yourself for your mental, emotional and physical health. Allocating funds to buy away negative experiences (e.g. cleaning) is perfectly reasonable. Your money should be used to enable a more meaningful life and outsourcing domestic or other tasks to achieve this makes sense for many people.

Your 50s

In your 50s, you may experience significant shifts in your lifestyle, goals and values. While your career may remain important, as your life changes, you’ll likely be thinking about what’s next. You might be preparing for life in an empty nest and starting to shift the focus back to yourself and your lifestyle.

While you may be planning for retirement, it’s also important to ensure you can enjoy your lifestyle today.

Key areas to look at include:

• Reviewing your superannuation investments and strategy. As retirement is now a decade away, staying on top of your super and thinking about more defensive strategies is critical. You should have already structured your super to weather financial storms, but if you haven’t, it’s not too late.
• Paying off debt. As the end of your working life approaches, it’s important to focus on paying off debt while you have a steady income.
• Making the most of your inheritance. It’s not uncommon to receive an inheritance in this decade, and if that applies to you, it’s important to consider how you put it to good use.
• Shaping your lifestyle to meet changing wants, needs, goals and values. Your 50s is commonly a period of change, whether it is the kids moving out of home or changing lifestyle desires. Many people find themselves reflecting on what they want out of life and this could be about downsizing, relocating or simply doing more of what you love.
• Making more concrete retirement plans. With retirement 5–15 years away, it’s time to firm up your plans and ensure you will have the income streams to live the life you want in retirement.
• Planning for your career exit. It’s also time to think about how and when you want to leave the workforce. If you are an employee, that might be a transition to a retirement strategy or an exit strategy for a business owner.
• Thinking about philanthropy and bequests. Your philanthropy may continue to be about financial contribution, and you may consider leaving a bequest in your will as part of your legacy. As your children leave home, you may also have more time to return to volunteering.

Looking to shape a better financial future in 2025? Book a consultation with an Apt adviser to get started.

General Advice warning

The information provided in this blog does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. Apt Wealth Partners (AFSL and ACL 436121 ABN 49 159 583 847) and Apt Wealth Home Loans (powered by Smartline ACL 385325) recommends that you obtain professional advice before making any decision in relation to your particular requirements or circumstances.