Life stage financial planning

Different life stage, different needs

As we progress through life, our financial needs and priorities will evolve and grow. Hence, it’s best to ensure that our plans get updated during each milestone in our life.

Typically, your financial needs will increase exponentially till your 40-50s due to family planning, taking care of ageing parent and accumulation of debt. Nearing retirement age, your financial planning needs will tend to decline as your children gain financial independence and debt is retired.

Next, let’s examine the different needs that needs to be address at each life stage