Many financial experts believe that lifelong financial planning should be carried out as soon as possible to avoid "money flow" when you are young and sigh sadly when you are old.
1. learning growth period: the goal of this period is to learn and complete their studies. At this time, we should enrich our knowledge of investment and financial management. If we have pocket money, we should use it properly. At this time, we should gradually establish a correct concept of consumption. Don't "follow the fashion" and be enslaved by vanity.
2. Newly-entered youth: The first salary of newly-entered society is the basis for pursuing economic independence, and you can start the actual financial management operation. Therefore, you are young and have a lot of career motivation, which is a good opportunity to reserve funds. Don't rush forward from the aspects of increasing revenue and reducing expenditure and using funds effectively.
3. Ten years of marriage is a period of life transformation and adjustment. At this time, due to different conditions and needs, financial goals are also different. If the "newlyweds" with double salary and no children have more investment ability, they can try to engage in high-yield and low-risk portfolio investment, or buy a house or a car, or start their own business to get a loan. Generally, families with children should take care of their children's raising expenses and adopt a stable and profitable investment strategy.
4. Middle-aged children: At this stage, the focus of financial management is on children's educational reserves. With the increase of family members, the living expenses are also increasing. If you have the responsibility to support your parents, the burden of medical expenses and insurance premiums must also be measured. At this time, due to rich work experience and relatively increased income, we should flexibly adjust the use of loans in combination with financial investment.
5. Empty nest middle-aged and elderly people: At this stage, because most of the children have left the nest to get married, the education expenses and living expenses have been reduced. At this time, the financial goal is to incorporate retirement funds into medical and insurance projects. Due to the accumulation of funds in retirement, investment can gradually move closer to the conservative route with high security, and fixed-income investment can still be considered to prepare for the second career after retirement.
6. Old-age retirement: This should be the most affluent period, but the burden of leisure and health care expenses is still very large. To enjoy retirement, if you have a "second spring of income", you should adopt a "defensive" financial management method, take "capital preservation" as the goal, and don't engage in high-risk investment, so as not to affect your health and life. Retirement has an unavoidable "aftermath" feature, so it is necessary to draw up a plan for property transfer as soon as possible and evaluate whether to adopt gift or inheritance.
Not everyone can practice the financial goals of the above six life stages, but life financial planning must not be a dead letter. After all, there is motivation only when there is a goal. If you don't have a plan, you can only rely on a sudden decision to dominate your financial career, which may lead to extreme results of "ups and downs". Wealth is gradually accumulated by "many a mickle makes a mickle" and "money rolling in". Drawing up a stable and appropriate career financial planning as soon as possible will help to gradually realize the goal of "gathering wealth" and lay a stable, secure and high-quality foundation for life.