Our 30s put us through the wringer, and now it's time to take control of our financial lives. Our 40s present us with an opportunity to create a massive income portfolio we can use until the end.

Our goal throughout our 40s is to prevent taking student loan debt for us and our kids. We must be creative to ensure we don't fall into this debt trap.

Next, we focus on income. We want the income-investing portion of our portfolio to yield 10%. We must create a future budget and work diligently to ensure our income exceeds that amount.

The rest of our allocations are to speculation (5%), growth (25%), and dividend growth (25%). In the end, our 40s are when we make the most powerful money decisions of our lives. Good Luck!