Life Insurance for Maturing Families
Once you start to head into the ‘home stretch of parenting’, your financial situation is usually under a bit more control, and you can start to look forward to the prospect of retirement and perhaps some new investments. Even though the kids may still be living at home, they’re now more self-contained and at or near employment age themselves.
Mature families in Australia – life on cruise control
Families with parents in the 45-55 age range have normally established a lifestyle worth protecting. The mortgage is either shrinking rapidly or paid off. As children become older and prepare to leave home, it may even be possible for both partners to return to full-time employment if they choose. By now there is less long-term debt, less concern about financial security and more disposable income for things like holidays or long-delayed home renovations. While more stable in the financial sense, this life stage also tends to be more time-poor. By now there is less long-term debt, less concern about financial security and more disposable income for things like holidays or long-delayed home renovations With many high school graduates and university students electing to live at home to save money, the responsibility for your family’s financial well-being still continues.
The importance of life insurance for maturing families
As your children get ready to go out into the world and pursue their own dreams, saving for retirement, making sensible investments and consolidating your financial situation become major priorities. Financially, there is a lot at stake in getting this life stage right and ensuring you will be well placed to enjoy your later non-working years. Financially, there is a lot at stake in getting this life stage right and ensuring you will be well placed to enjoy your later non-working years Life insurance for mature families is all about protecting the lifestyle you’ve worked so hard to create over the past couple of decades.