At 40, your power and productivity will decrease. You cannot depend too much to your stamina and work like young man. You should have more rest and keep your body or you become sick.
Financial planning is the way to provide money to fulfill your need. As you grow, you will need much money to cover moreover you have wives. and children .You have obligation to fulfill the family need. Moreover, you have child grown and want to enter the college. You should provide your college fee. You should give education to your child or they could not have anything. They cannot find a good job.
You should already buy a house or alternatively you have finished to settled buy through mortgage because you must be tired change from apartment to another apartment.
Writer suggests you have already having a good job with higher salary because you need much money. If your salary is low, you can re-negotiate to your boss. Alternatively, you could open small business. There are so many business field that you can try.
Find freelance jobs. Sometimes our salary is not enough for us. You can find job like writer, web design, architecture or else. Use your tendon and brain to find your money as long your healthiness good. Use this opportune otherwise, you will loose this opportune. There are so many jobs at website. You can also try blogging. It is cheap and profitable.
Construct your investment portfolio. If you have much money, you can easily compound all kind investment. You can combine investment both financial asset and real asset. Financial asset is like stock, index, bond, mutual fund, etc. On the other hand, real asset is precious metal, building, land, cattle, etc.
You should put to less risk investment or risk- free asset. You should not gamble at forty. If you loose money, you will find money difficultly. You can invest at less risk stock like blue chip stock, income stock or growth stock. These stocks will give you higher return. Find trust broker to help you get risk less investment. You might consider precious metal like silver and gold. Those investments are safe and have higher return.