We’re often asked by clients and potential clients, “What should I be thinking about now?” or “What are some things I can be doing now to help set me up well for the future?”
We put together checklists for your 20s, 30s, 40s, 50s and 60s to help you navigate each stage of life, identify and plan for your goals, and put a solid plan in place so you feel confident about your finances.
Checklist: Financial Planning In Your 30s
- Increase contributions to your retirement plan – aim for 10%
- Consider your investment strategy and long-term goals
- Start saving for intermediate term goals (home purchase)
- Review your health, car and homeowner’s insurance policies
- Consider life insurance, particularly if you are starting a family
- Consider purchasing disability insurance if not offered through work
- Establish a will and start planning estate needs. Understand the consequences to your loved ones of failing to plan
Questions to think about:
- Is my emergency fund adequate for the stage of life I’m in?
- Am I happy with my current living situation or do I want to save for and own a larger home or more conveniently located condo in the future?
- Am I interested in traveling? If so, how do I incorporate those expenses into my financial plan?
- How much should I be saving?
- How should my 401(k) be invested?
- Should I be contributing to a Roth IRA or a Traditional IRA?
- Are there ways I can reduce my debt and am I paying off the right debt first?
- What kind of life insurance do I need?
- What’s the best way to be saving for my child’s college education?
How we can help:
If you would like help thinking through any of the above topics, please reach out to an advisor. We’re here to help as you navigate each stage of life.
- Checklist: Financial Planning in Your 20s
- Checklist: Financial Planning in Your 40s
- Checklist: Financial Planning in Your 50s
- Checklist: Financial Planning in Your 60s