Financial planning for every stage of life.

The way you budget, save, and plan will change as your life changes. Knowing what to focus on at each stage can help you build a stronger financial future.

Here’s a guide to help you set goals and make a plan that works for you.

Teens and early 20s: Starting out.

•  Build good habits early. Open a checking and savings account. Learn to track your spending so you know where your money goes.
• Start saving. Even if it's small amounts, consistency matters more than size at this stage. When it comes to your 401(k), saving early can snowball into a huge advantage down the road. 
•  Know the basics of student loans. Understand repayment terms before you borrow.
•  Learn about credit. Get familiar with how credit works and why interest rates matter. Those high rates can really add up over time. Store credit cards? Tempting, but can cost you in the long run.

👍Pro-tip: There are a lot of myths out there about what can help or hurt your credit. Don’t worry, we debunked some of the most common ones.

20s and 30s: Building your foundation.

• Create an emergency fund. Aim for at least 3–6 months of living expenses in savings.
• Focus on paying down debt. Prioritize high-interest balances like credit cards.
• Protect what you have. Make sure you’re covered and have insurance. That includes auto, renters/home, and health.
• Splurge — strategically. Go ahead and take the vacation or concert trip. Just make sure you’ve got a plan to pay for it.

40s and 50s: Growing and planning.

• Increase retirement contributions. As your income grows, boost your savings rate to take advantage of compounding interest.
• Plan for big expenses. This could mean paying for a child’s education, upgrading your home, or starting a business.
• Check your progress. Review your retirement projections and investment allocations to make sure you’re on track.
• Reduce debt before retirement. Work toward paying off your mortgage or other major loans.

60s and beyond: Plan for what’s next.

• Review your retirement budget. Make sure your expected income (from savings, Social Security, or pensions) will cover your needs.
• Plan for healthcare. Understand Medicare options and consider long-term care insurance.
• Update your estate plan. Make sure your will, beneficiaries, and legal documents are up to date.
• Enjoy retirement. That’s it, that’s the tip.

No matter your age, the best time to take care of your money is right now. Each stage comes with its own challenges and opportunities. Planning a little today can make life a lot smoother tomorrow.