The 3 Stages of Your Financial Life

January 12, 2015


What are the three stages in your financial life? The first stage is Guarding Against Life’s Uncertainties. The second stage is Growing Your Net Worth, and the third stage is managing retirement and Your Estate. The base of the pyramid is preparing for life’s uncertainties. Insurance is the most cost effective way to deal with this. Insurance can include life and health insurance, disability insurance, long-term care insurance, home and auto insurance, and insurance against other perils. Adequate liquidity in your investments or in cash to cover emergencies, along with a will is important. The next level involves growing your money. Investment strategies should include diversification and risk management. The best option is to review your goals with a professional.

And the top tier addresses retirement and estate planning. The ultimate goal is to insure that you have income and assets for as long as you live. These should be as secure and guaranteed as possible.

Estate planning provides all the documents to ensure a planned distribution to beneficiaries. The three stages sound simple, yet few people adequately prepare for any of them. We can help, so please, give us a call today.