NEW YORK - Time is on her side now, says actress Gwyneth Paltrow.

"I am no longer in my 20s and 30s, I am 46 and I love being in my 40s," she said at a panel discussion at the South by Southwest festival in Austin, Texas, on Monday.

"There is this incredible freedom that comes with being a woman in her 40s and understanding that this is who I am, and I've stopped worrying so much about what people think of me."

That attitude saw her poking fun at herself and Goop, her health and lifestyle brand which has been accused of making outlandish claims, during a recent Saturday Night Live appearance.

"Throughout this whole journey from the change of career and trying to build a company, I think it's important to always have a sense of humour about everything in life."

But she is all business when it comes to running her company. "My days are very challenging, but I feel so thrilled (and) so excited."

The Oscar winner, who tied the knot with American Horror Story producer Brad Falchuk in September, is not writing off acting.

"I've never said that I am quitting acting," the mother of two said.

"Occasionally, when something is the right thing and it works out around my children and my Goop life, I'm able to participate. I think I'm just not focused on full-time acting right now."