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In Hindsight
Wise money lessons I wish I could tell my younger self

Kim’s advice to Olivia and Liam


Kim Potgieter

Kim Potgieter

April 22, 2023

Give yourselves a break! You have done so well, and understandably your focus has been on ensuring your children had the best experience and quality education growing up. Clearly, your highest value is your family.

You are both young and in a wonderful position to earn a good income. Now is not the time to worry about having not saved enough for retirement. The next 10-15 years of your lives (between the ages of 50 – 65) is the perfect time to save, invest and enjoy the compound interest of your efforts.

So, reframe how you see yourselves: yes, you are in midlife, but it’s the young version of midlife. Your best earning, saving and investing years lie before you.

Visualise your next chapter as one of continued learning and earning while saving and investing for retirement. This is the time to ask: What do we want for our future selves? How do we ensure we create the best experience for us?

Draw up a financial plan with your planner. Agree on an investment strategy and decide where you would get the best returns. Always stick to the plan. Remember that you need to also prioritise your current quality of life. Make sure to put some money away for fun and do all those things that bring you joy as a couple. You may need funds to visit your children overseas.

Open up new conversations: you have done the hard work around your relationship with money. You could now start discussing options for freeing up capital for investment purposes. Perhaps you have a separate flat that could be rented, or with your children out of home, you may want to downscale into a smaller place.

What you do with your money in your 50s is vital to the success of your future. Let your wisdom and learnings from your first chapter guide your future happiness and financial wellness.

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