There are many different stages of life, and each of them has different financial priorities and therefore different financial actions.
HERE we talk about what you ought to start getting your head around with 10 years before you graduate from work. And HERE what to think about once you have graduated from work.
But what should be on your mind before and after both those points?
Depending on where you, your children, your grandchildren or parents are we hope these tables give you some good pointers:
Ages 0 to 50
Ages 50 to 100
The road to graduating from work should start now, whatever your stage of life.
Those early years are when good financial habits should start. Whatever you put aside for your (grand)children in the first 20 years (or were put aside for you) will have the biggest impact of all.
From 20 to 50 it’s about being sensible – not too much debt, put aside first, spend second, make sure those you love are properly protected should tragedy strike.
Thereafter it’s about getting mentally ready to graduate from work before we turn our attention to future generations.
Follow that simple formula and you will find you hold all the cards and have amazing choices to make in your 50s and beyond. And that future generations will benefit from your sound thinking and actions.
As in all of life good habits picked up early (balanced diet, reading, smoking, drinking, exercise, work ethic etc.) last us a lifetime. They give us the best chance to experience the best life has to offer.
The table points you in the right direction. The habits you may be boring but there is no doubt they are effective.
And, if a truthful, helpful and kind financial planner can help you navigate the terrain ahead, we would be delighted to oblige.
Are you, or they, ready to get going?
Boring But Effective | Truthful, Helpful, Kind
advice@townclosefp.co.uk