We are often asked why we focus on people over 50. This is our niche; we rebranded in 2020 and changed our name to Money Over 50 so people know exactly what we do.
To answer the question, we have to ask: why 50? There are two reasons for that.
Six or seven years ago we had clients of all ages, whereas now we just focused on those aged 50+. We find that for people who are 25, turning 65 seems like a very long way away, and retirement planning isn’t really on the cards. When someone is around 50 it’s easier to talk about the trajectory of retirement – probably because there is a lot less time left! So it’s related to time as well as interest.
Michael is 46 and has two young kids. He finds that while many people his age are thinking about retirement, usually they are focused on trying to pay off things like mortgages and school fees. This is not a hard and fast rule, though – but people who come to see us in their 40s generally have a better outlook on their finances than their peers. They have probably already been thinking about the future for a while.
So what if I’m 45 and want to see you? We get asked this a lot. If you’re younger than 50, you are always welcome to have a chat with us – but generally, we would probably suggest other strategies such as paying off your mortgage or reducing credit card debt in these earlier years.
(And in case you were wondering, Dallas is 31 but often feels 101!)
Listen to the related podcast here!
Dallas Davison, Michael Hogue and Ali Hogue.
Money Over 50 Financial Advisers
Tel 07 4772 0938
45 Ingham Road West End Townsville Qld 4810
Money Over 50 Financial Advisers Pty Ltd ABN 26 146 225 505, 45 Ingham Road, West End Queensland 4810 is the holder of an ASIC Australian Financial Services Licence (AFSL) #471826.
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