Every one of us accomplishes our life’s goals at different times throughout our lives. We each use a different set of building blocks. We each face challenges and have to overcome those challenges in the development of our careers & financial lives.
Do you know your challenges and goals? Do you know what will be demanded of you at the different stages of your life? A lot of folks are not sure and need some guidance.
Sometimes having a guide to walk you through each stage can be helpful? The Financial Stages of Your Life Guide will help direct you through the financial challenges that you will face during each phase of your life. Here’s a review of what the guide can offer you:
The Financial Stages of Your Life Guide
20’s : Getting Started
Your young and wild. You can do anything, Your invincible. Now what?
- You transition from education to establishing a career.
- You start looking around to see what the world has to offer you.
- You start working.
- You start developing credit.
- You start interviewing for jobs.
- You start sending applications out for an apartment.
30’s – 40’s : Accumulation
You have begun to settle down. You have to be responsible now. There are people counting on you. What do you do next?
- You get married.
- You start families.
- These are your professional years.
- You develop your careers.
- You start accumulating assets and building equity.
- You apply for mortgages.
- You start your 401k retirement accounts.
- You buy some life insurance policies.
50’s : Final Working Years
Your children are becoming little adults, so now you can focus on your financial goals. Learn how.
- These are the beginnings of your final working years.
- You accumulate as much as possible for retirement.
- You apply for student loans for your children.
- If you still have outstanding balances on your own student loans you start paying extra on those loans.
- You start to consolidate other outstanding debt.
- You pay off as much debt as possible.
60’s : Begin Retirement
- You start the transition from working years to retirement years.
- You start to ask yourself some serious questions about your future.
- Have you saved enough money for your retirement years?
- Will you have to continue to work during your retirement years?
- If you have to work part-time, what would that look like?
Ahhh – Retirement. Job well done. You have worked your entire life for these years. Relax and enjoy them, you’ve earned them.
Very good site, this gave me loads of info for my finance class.