Age is no barrier to building wealth, but how do you work out the best investments for your age?

THPPPPT! Wealth? Are you serious? Gen Xers are supposed to do that … how?

We’re getting married, saving deposits, replacing those savings with monster mortgages, preparing for and then raising midgets, often on one salary …

Creating wealth is possible for my generation. Not.

Actually, Gen Xers, they’re excuses. And they’re pathetic, like the recent remakes of Knight Rider. (Couldn’t they have just left KITT rest in celluloid peace?)

A wise woman once told me: “Your 40s is when you make it.” I see that and raise her one: “Your 30s is where you set that up.”

Gen Xers hold incredible financial power – we just don’t understand it. We’ve got both lightsabres and Jedi powers.

On average, Xers incomes will rise until their early 50s. Second, they’ve got time to make investing work.  A powerful combination, if we get ourselves started.

Income multiplied by time. Old-age poverty doesn’t stand a chance!

Predominantly, Xers should be in growth assets – shares and property. (That’s either side of that painful first few years of having your first mortgage.) As I say in Debt Man Walking: “Manage your mortgage, then manage your wealth”.

A home is the cornerstone of wealth creation. But once your mortgage is controlled, don’t wait until it’s paid off. Start investing. Something small, but meaningful.

Investment compounding is awesomely powerful. Time alone makes it work. Start early and you might have 20 years of growth on growth.

And, for those potentially able to consider higher risks, the power of gearing (used properly) can add even more to your investment arsenal.

Bruce Brammall is the author of Debt Man Walking (www.debtman.com.au) and principal adviser with Castellan Financial Consulting.