We’ve helped many families and individuals during our career (some of them before they earned a paycheck). And while some are similar, none are the same.
Here’s what we’ve learned over the years.
If You’re Younger Than 20:
A common goal: Discovering what you enjoy doing — not doing what others say is best
A common mistake: Spending like a king, even when you have money like a pauper
A main tip: Setting up a Roth IRA (and throw a little extra towards high risk/reward investments)
If You’re In Your Investing Prime:
A common goal: Building a portfolio to escape the rat race sooner than later
A common mistake: Neglecting insurance (because you’re invincible, right?)
A main tip: Consolidating investments into a more manageable portfolio
If You’re 50+:
A common goal: Never worrying about retirement account balances
A common mistake: Falling for risky investments to make up for lost time
A main tip: Consolidating accounts for a true and clear understanding of your retirement savings
If You’re Retired:
A common goal: Enjoying life’s “second act” with money left over
A common mistake: Forgetting to update estate plans (or failing to have one at all)
A main tip: Bucketing allocations based on immediate, medium and long-term goals.