Start-up Stage- Age 25 to 33
- Insurance-Buy pure term insurance as per Human life value.
- Emergency Fund-Keep a side Six months of your monthly expenses.
- Retirement account - Even a small saving is very important.
- House- Try to postpone it for middle age and Built up a wealth for buying a house.
- Vacation and Vehicle – Start a planning for buying a vehicle and vacations.
- Credit card and loans- Avoid loans and credit cards.
Middle Stage- Age 33 to 45
- Children education -Start a SIP with a birth of child.
- Purchase a house –Try to avoid big loans.
- Goal Planning-Do a proper planning of your various goals of your life.
- Review of your investments regularly.
- Vacation and second car- Do it after proper saving.
Third Stage- Age 45 to 60
- Investment planning- Do proper planning with capital appreciation for retirement account.
- Children’s Higher Education and marriage- Take benefit of SIP amounts.
- Will- Have a proper will to proper transfer of your wealth.
- Second Home or Bunglow - Take it after proper wealth built up.
Fourth Stage- Age 60 & Above
Nearing Retirement – You have substantial funds at your disposal to set aside for your retirement.
Your children are most probably independent and well settled by now. At this stage, your income is at its peak. You have substantial funds at your disposal to set aside for your retirement.