Investing at different stages of life requires a tailored approach as financial goals, risk tolerance, and time horizons evolve over time. In the early stages of life, typically in your 20s and 30s, the focus is often on growth. As you move into your 40s and 50s, your financial goals may shift slightly. Many people are nearing the peak of their careers and may begin thinking more seriously about retirement. At this stage, the focus is on building a solid retirement nest egg while maintaining enough growth to keep up with inflation. In your 60s and beyond, as retirement nears or has already begun, the focus shifts towards income generation and capital preservation.
Throughout each stage of life, it’s essential to regularly review and adjust your investment strategy in alignment with your evolving goals, financial situation, and risk appetite. No matter where you are in life, starting early and staying disciplined can significantly improve your financial future.
20’s
Getting Started on Your Financial Journey
Focusing on personal growth and building a strong foundation for financial success at this stage are crucial. Setting goals for your future can help start you on the right path.
30’s
Continue to Secure Your Financial Journey
This stage in life is about continuing to follow the path laid out in your 20s, focusing on your financial goals, and taking actions toward reaching them.
40’s
Prepare for Retirement and Maintain Financial Security
Your 40s are the time to start focusing on longer-term goals such as retirement and college funding for your children. Adjusting your goals to fit the lifestyle you want can be necessary in this stage.
50’s
Retirement Preparation
As your retirement years grow closer, your 50s are the time to take stock of where you are relative to your goals. What else can be done to reach your goals? How can you make changes to reach them?
60’s
Retirement is Right Around the Corner!
As you wind down in your career, the big question of your 60s is, “what now?”
70’s
Enjoying Life in Retirement
While this is the time to enjoy your well-earned retirement and time spent doing what you love, there are still some matters left to address. Reviewing your estate planning, life insurance, and caregiving wishes is important in your 70s.
