During your 20’s…

  • Start a savings program.
  • Identify long-term goals.
  • Train for a career.
  • Determine insurance needs.
  • Protect assets with insurance.
  • Consider opening an IRA.

During your 30’s…

  • Invest for capital growth.
  • Explore retirement goals.

If you have children:

  • Provide for expanding housing needs.
  • Build education funds.

During your 40’s…

  • Diversify investment.
  • Begin to develop an estate plan.
  • Begin to seriously think about retirement planning.
  • Review and revise will as necessary.
  • Explore a living will, along with a power of attorney(in event of capacity).
  • Reevaluate insurance needs – Homeowner, Life, Critical Illness, Disability Income, Umbrella Liability
  • Consider deferred compensation plans with employer.
  • If you have children: continue to build education funds; teach children good money habits.

During your 50’s…

  • Think about providing for long-term care.
  • Decide where to live in the first stage of retirement.
  • Plan caring for aging parents.

During your 60’s…

  • Reevaluate budget to meet retirement needs.
  • Think about ways to reduce taxable estate.
  • Shift a portion of assets toward income producing investments.
  • Investigate part-time employment or volunteer work for retirement.
  • Ensure long-term needs are met.
  • Make sure health insurance is in place to supplement Medicare.
  • Review will and trust.
  • Convert group term life insurance.
  • Start considering plans for continuation of family business, if applicable.

During your 70’s…

  • Update living will, power-of-attorney.
  • If you have children: investigate gift and insurance plans for children and grandchildren; explore charitable giving plans; plan for shifting business interest, if applicable.