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life stages of financial planning

Life stages of financial planning:

Common concerns & next steps

Life StageEarly Career
Mid Career
Late Career
Early Retirement 
Late Retirement
Common concernsGetting Started
Strategic Planning & Balancing Priorities
  • Caring for children or aging loved ones
  • Saving enough for retirement
  • Being tax smart 
Approaching Retirement
  • Revisiting feasibility of funding your lifestyle in retirement
  • Evaluating changing cost of healthcare and long term care 
Adjusting to a New Lifestyle
  • Switching from accumulating assets to needing income replacement 
Clearly Defining Your Legacy
Possible Next Steps 

Build positive money habits early

  • Pay down debt
  • Build an emergency fund
  • Learn about retirement account options & investment types
  • Automate retirement contributions

Prioritize competing financial goals
  • Consider the importance of tax diversification
  • Think in terms of percentage of setting aside money
  • Evaluate changing insurance needs
  • Consider the expense required to care for an aging loved one
Clearly define, develop and revisit your timeline to retirement
  • Tax plan: What will your income sources be? Prepare for tax impacts
  • Prepare for higher health care expenses in retirement

Monetize assets to ensure a sustainable, tax efficient income stream

  • Evaluate income options from employer retirement, being mindful of tax laws
  • Develop a post-career identity: What do you want to do with your time?

Review and update estate documents

  • Engage trusted loved ones in estate, charitable giving goals, and end of life planning

Get in touch with your questions

Get in touch with your questions. New Orleans, LA deMAURIAC Financial Consulting & Wealth Management