5 Things a Man Must Have Before 40 - Money and Me

As I crawl towards 40, I've spent a bit of thought on the phrase: Life begins at 40 - and what it really means. To me, it's just a theory. Well, I agree to some point - four decades worth of life experiences must point to some level of maturity. All the learning experiences, knowledge, success and failure, pain and pleasure, making and breaking of relationships - you’ve pretty much figured it out.

In my opinion, life doesn't have a specific jumpstart stage. A man's destiny is partly influenced by his environment, and - by his own intuition.

To live a decent life towards Age 40, there are several things a man must factor:

1. A Contingency/Fall Back Plan

A contingency refers to an event that may, or may not happen. A contingency plan is meant to deal with such events. As part of project management, it goes hand in hand with the Fall Back Plan.

For example, in the contingency that you lose your job - What then happens? A person may choose to apply for a second job.

A Fall Back Plan is put in play when the contingency plan fails, or is halfway effective. For example, in the event that you lose your job, but you cannot secure a new job - What then happens? Here now is your fall back plan. It’s prudent to have a solid Contingency/Fall Back Plan, as a man. 

Read Also: 5 Events that Can Lead to Loss of Income (And How to Prepare)

2. A Life Goal Plan

A money-smart man sets goals or milestones in his life, to check for stalling phases either in career or business circles. For example, set a 5-year-plan. A man sets goals for that period, say build some real estate. Set a 10-year-plan, for - perhaps, an investment in bonds or money market, etc. It’s a constant check against distractions.

Read Also: 10 Long-term Financial Goals to Start Today

3. An Abundance Mindset

It’s basically a positivity mindset biased on financial achievements. A mind is a man’s greatest asset: What a man believes, so he achieves. The energy behind self-esteem, self-belief and self-worth has a great impact.

For example, a man that believes “I’m destined for financial success” or, “I was born to be a billionaire” generally finds it easier to cultivate financial discipline in pursuit of that goal.

Read Also: Money Mindset: How An Abundance Mindset Can Make You Wealthy

4. A Mentor

Think of a trusted advisor. To a man, he can be a role model, a critic, or voice a reason that helps you grow professionally. He’s in a position to give honest feedback, helps sets goals and incase of a setback - helps analyze the situation - and, plot a possible bounce back.  

5. An Emergency Fund

There’s not a crystal ball accurate enough to predict what lurks tomorrow. There’s peace in building a stash of money within reach - and, yet not too easily accessed for misuse. Create an emergency fund, a recurring deposit maybe, keep adding money every month and forget it unless an emergency arises. 

Point is, no one has regretted having too much money set aside in times of emergency, but many have regretted having too little. 

Read Also: Easy Steps to Create an Emergency Fund in 100 Days

The Four Things a Man Must Own:

1. A Tool Box

A kitted tool box is a man’s accessory. It adds credence to the ageless adage “Man in the House”. It’s not empty air - it adds general substance to a man’s confidence. This, coupled with a basic Do-It-Yourself (DIY) skill set allows a man to lord it over lesser mortals.

Besides DIY skills will save you loads of cash in simple tasks around the home. Hey, how hard is it to fix a leaking sink, fix minor repairs on a kid’s bike, or fix a hole in the fence? Be a man. Get a tool box. 

2. A Library

A book is to a mind what a sharpening stone is to a blade. Read more books. Expand your knowledge horizon. Read widely to gain social skills, new business skills, and health and wellness tips. Pull out tricks for career progression. Create an inheritable book collection.

As you learn, so you grow.

3. A Gym Membership

Set aside body goals - ribbed cores, and whatnot. A gym serves lots of life lessons. It teaches self-confidence, discipline and consistency. It teaches a man how to deal with bad days, at home and work places.

Life is much like doing squats: weights crush you down, and the only option is to rise up. Then, heavier weights crush you down. The cycle keeps on. You can either give up, or overcome it. Get a gym membership! 

4. A Classy Watch

For a man, a watch is much more than an accessory. It defines a man's class, style, lifestyle and personality.

At this age, when every gadget can tell time - a man who's taken trouble to wear a classy watch plays an edge against his peers. 

For example, it makes a statement when you shake a client's hand with a Rolex on the wrist. It has a message.

This is my opinion, an unofficial guide to the glorious age of forty!