Having a Financial Plan

Having a Financial Plan for Every Stage of Your Life

Your financial goals should shift along with your situation to serve your biggest needs. Some of your concerns will be long-term — for instance, saving for retirement takes place over decades — but that doesn’t make shorter goals, such as saving for a down payment on a home any less challenging. Knowing when to achieve certain financial milestones will help you ensure that you don’t have to scramble for any of them.

Here’s a cheat sheet, published by Forbes, on what financial tasks you should take on, and when. Keeping in mind that people hit different milestones at different times — for instance, some marry and become parents in their 20’s and others in their 40’s — these money to-dos are tied to life landmarks rather than ages.

Click here on the video below to listen to an explanation about financial planning for every stage of your life.