The Twenties

• get their credit card debt under control and then eliminate it.
• With interest rates having stabilised at relatively low levels and property prices still slipping to gain by saving for a deposit for a home.
• decide whether or not to try to supercharge their savings growth by diverting funds into a regular savings plan that invests in equity funds.
• Callinan says building a deposit through investing in equity funds is a good strategy.
• also have to have a time horizon of at least five years, to give the investments time to perform

The Thirties

• consider taking out income insurance, especially given the increased tendency of companies to respond to setbacks by downsizing.
• be careful not to over-extend themselves financially, instead keeping money available for emergencies.
• This may well involve delaying renovations. Alternatively, they should ensure their mortgage facility allows them to draw down more money quickly if they need funds in a hurry.
• try to catch up for lost time by aggressive investing, such as using geared share funds or by taking out a margin loan to finance a portfolio of direct share investments.
• A small group will go so far as to use even more aggressive investments such as futures contracts, trading warrants and contracts for difference.
• should be approached with a great deal of care since, if handled badly, they can generate heavy losses. 

The Forties

• a good chance you will be able to upgrade to a bigger home or, alternatively, carry out the renovations you deferred in order to finance investments.
• budget carefully. In contrast, those with relatively high incomes, or with few or no family responsibilities, should have the capacity to continue to use gearing to expand their investment portfolio.
• divert more money into superannuation.
• Super savings really only equate to financial freedom for people who are already in their early 50s.

The Fifties

• super savings will be more accessible, make this the preferred investment vehicle.
• chance to take more control over your life by establishing your own business, perhaps by getting a significant redundancy payment.
• Even if the redundancy wasn't voluntary, it can provide a valuable chance to build a new, financially viable life outside the 9 to 5 standard working day.
• think very carefully before you use your family home as security for a business loan. A debt-free home is usually crucial for any sort of financial freedom and should not be put at risk without a lot of thought.

The Sixties and later

• higher life expectancy means a very defensive approach probably will result in your money running out.
• usually opt for an allocated pension that includes a reasonable exposure to both local and offshore shares, rather than a pension with a very high level of capital security.
• While a conservative allocated pension carries less risk of suffering a sudden setback, it can also result in a low annual income and so increasing dependence on the aged pension.

Rules for us all

• Returns over the previous five years or so from Australian shares have been so strong that, as has already happened with real estate, some correction at some stage is virtually inevitable.
• There is no guarantee that one of the main drivers of local sharemarket confidence — the strong Chinese economy — won't hit some adjustment problems, in the process dragging down local stocks.
• The surge in oil prices could continue, squeezing consumers and slowing economic growth.
• The $A could well remain at around current levels, rather than the much lower exchange rate that applied at the start of the decade, in the process maintaining the pressure on exporters.

via money.ninemsn