Your advice to 40-year-olds on planning for later life

Reasons for refraining 

This first article highlights comments from those of you who felt that giving advice to people in their 40s wasn’t appropriate.

In total, 113 respondents refrained from offering advice, or at the very least put a caveat on the advice they did give. 

Collectively they offered people in their 40s a resounding "yeah, nah". 

Ultimately there were three kinds of reason for this response among the 113 comments. 

Can’t 

The first reason was simple: you said we can’t give advice to people on planning for their future because everyone is different, life is unpredictable, and the world’s gone mad.  

Around 60 comments fit this description. The comments often reflected on how much things can change over time, whether in our own lives or society in general: 

“Make a plan where you can but life can often laugh at all of our plans when divorce, war, or ill health are concerned.” 

“Consider all options. Whatever you plan at 40 won’t be applicable when you need it.” 

“Who knows what can happen to a person at any age. A person must be ready to accept the unexpected.” 

“How can we do this, every new government makes changes.” 

A few of you shared sad stories about your best laid plans gone wrong because of unexpected events: 

“Too much can happen between 40 and 70 to give relevant advice. I never expected to lose my home and much of my superannuation at 69 when my husband's business collapsed.” 

“I will have problems when I can no longer live independently but all the planning in the world would not have prevented this. If there is no long-term work or if you get made redundant, if you get sick and if you have not inherited money or done one of the very few money-making jobs, there are no answers.” 

“Too much of this is unknowable. Can't predict the future. I was fine until l was 50. Now l have no say or control over my living environment and this is depressing.” 

The fact that everyone is different was also a factor here, with plans needing to be tailored to individual situations: 

“The possible level of support required will vary greatly between individuals.” 

“Difficult to say as each person's circumstances are very different. What works for some people may not work for others.” 

“Hard to advise anyone younger as there is no fixed life trajectory.” 

Shouldn’t 

The second kind of reason you gave for not offering advice was the view that people in their 40s shouldn’t be thinking about this yet. 

Around 20 respondents felt that the 40s are too early to start planning for later life dependence.  

A few others said it was hard enough for them to plan themselves, despite being much older. 

“None. 40 years of age is far too young to consider older life requirements.” 

“I am already 'late in life'. 40s! That is so young to be planning anything.” 

“In their 40s? Seriously?” 

“Because I am studiously avoiding the thought of losing my independent living, I am unqualified to offer such advice.” 

Won’t 

The final reason you gave amounted to “people in their 40s won’t listen”, rendering moot any attempt to give them advice. Around 30 respondents offered a version of this sentiment. 

Comments varied from skeptical views on younger adults’ interest in older people’s wisdom, to recognition that one’s 40s brings other responsibilities, to a factual assertion that people in their 40s just aren’t interested in planning for later life. 

Respondents also acknowledged that people in their 40s don’t feel like older age will ever happen to them. 

Your comments included: 

“Generally I believe people in their 40s feel somewhat invincible...” 

“Very difficult to plan for this in your 40s when you are consumed with young children, career, mortgage. etc.” 

“My two sons are in their 50s. They are not interested in this topic.” 

“How can you advise people in their 40s, they know everything and don’t want to listen to (old) people like myself.” 

“Not sure anybody in their 40s would listen to advice - I know I wouldn’t have.” 

However, three people observed that life’s journey can change this disinterest, quite suddenly: 

“Experience is the teacher here when they have to organise care for elderly parents/relatives.” 

Notwithstanding these objections, many more of you did offer advice to people in their 40s. 

Stay tuned for next month’s article when we explore the piece of advice the largest number of you gave to them: have more money.