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November 11, 2017

Getting Started Lesson 1: Setting financial goals based on your life stage

Keep up with your changing priorities as you go through life.

When it comes to Financial Planning, it is important to understand what Life Stage you are currently in. This describes where you are in your financial journey so you can identify your priorities and needs, no matter what age you may be.

There are four Life Stages that encompass the financial concerns that you may encounter in a lifetime. Find yours!

  1. Getting Started – Independence is central for this period. Their careers are taking off along with the desire to experience everything that life has to offer. And this ambitious mind-set also shows in their financial goals such as investing and saving for life milestones such as buying a house or creating a wedding fund.
  2. Moving Up – Family is a top priority! They are concerned about health after working hard to achieve their goals. With their family’s future in mind, they need to sustain the household’s future income while saving and investing for education funds.
  3. Planning Ahead – Supporting both their parents and their own family, these added responsibilities highlight the need to ensure continuous support for their dependents. All while looking after their own financial concerns such as healthcare and retirement funding.
  4. Leaving a Legacy –Though they still keep up with the young ones, they simply want to give a better life for the next generation. Their priorities include spending time with loved ones and preserving wealth so they can pass it on without any burden.

So have you identified what Life Stage you are in?

Because it’s time to craft your financial goals!

Lesson 1 Exercises


Go to Getting Started’s Lesson 2


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