Wealth Management is for Every Age

Oct 25, 2022 | All Posts, Blog | 0 comments

No matter where you find yourself in life, it’s the right time to make sure that you and your family are protected and prepared for the future. Financial planning isn’t just for the rich – wealth management is for every age! Let’s take a look at some of the ways you can prepare no matter what your stage of life.


What is wealth management?


Wealth management involves using the resources at your disposal to plan and prepare for the years ahead. Typically, when people hear the term “wealth management”, they think of investing and strategic financial planning.


Who needs wealth management?


Financially planning for the future isn’t just for the affluent, though. Managing your wealth should start from a young age in order to maximize your saving and spending goals for the decades ahead.

With the help of an experienced financial advisor, you can start now to prepare for a successful financial future. Whether you’re 20 years old or 60, it’s not too early or too late to start.

Wealth management takes into account your short- and long-term goals. In addition, effective wealth management sets you up to achieve your spending and saving objectives, prepares you and your family for the future, and assembles a plan for a successful and enjoyable retirement.


Wealth management is for every age – stages of wealth management


Not sure what wealth management goals you should be focusing on at your stage in life? Let’s take a brief look at the main stages of life and how you can financially prepare in your current stage.

Please keep in mind that wealth management is different for everyone depending on your situation and your goals, and the lists below are only a general guide. It’s important to meet with an experienced financial advisor to make a plan that’s unique to your situation.


Age 25-35 – Protection


During this phase of life, the focus should be on protecting yourself and your family from any incidents or unforeseen events that may arise. Although it may not be fun to think about, it will give you peace of mind and ensure that you and your loved ones are covered.

The best ways to stay protected include:

  • Health Insurance
  • Auto Insurance
  • Life Insurance (for parents and children)
  • Disability Insurance
  • Wills/Trusts


Age 35-55 – Protection & Accumulation


In this phase, it’s important to continue to ensure that you’re protected from disasters and tragic or unforeseen circumstances. In addition, this is a good time to think about accumulating and growing your assets to set you up well for retirement and the future.

During these years, you’ll want to consider:

  • Supplemental Life Insurance
  • Roth IRA
  • 401(k) Funding
  • Stocks, Bonds, and Mutual Funds
  • Real Estate


Age 55-75 – Accumulation & Conservation


At this point, your retirement years are approaching or may have already begun. Now, you’ll want to adjust your focus a bit. From ages 55-75, it’s wise to consider these categories:

  • Annuities
  • Long-Term Care
  • 401(k) Rollovers
  • Pension Maximization
  • Social Security Planning
  • College Funding/Life Insurance for Grandkids


Age 75-85+ – Conservation & Legacy


You’ve successfully made it into your retirement years. It’s time to relax and enjoy all your hard work over the years.

At this point, it’s time to focus on your family and legacy. It’s time to think about preparing them for after you’re gone. Here are a few ways that you can be ready:

  • Wealth Transfer Gifting
  • Charitable Planning
  • Final Expense Burial Policy


What stage of wealth management do you find yourself in?


Where are you on your wealth management journey? Do you feel confident about your financial future? If not, Milestone Wealth Management is here to help.

You don’t have to lose sleep wondering if you’ll be able to meet your financial objectives and goals. You don’t have to worry about whether or not your family will be taken care of when you’re gone. Instead, you can be ready.

Contact us today to schedule a meeting. We’ll sit down with you to create a comprehensive plan for success that’s custom fit for you.



This material is not intended to replace the advice of a qualified tax advisor, attorney, or accountant. Consultation with the appropriate professional should be done before any financial commitments regarding the issues related to the situations above are made.

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