Financial Planning: 60s
- Save a total of eight times your annual salary in your retirement funds,
- Pay off all your mortgage, loans & debts before retiring,
- Use catch-up retirement strategies like downsizing, moving, working longer, selling assets, if required.
- Learn new skills to transition to retirement or "second act" job or a volunteer role.
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Financial Planning Milestones for Different Ages (Rutgers NJAES)
njaes.rutgers.edu
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·1.18K reads
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[4/4] Personal Finance is a very crucial concept that is often ignored. This is an attempt to spread awareness related to personal finance.
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The idea is part of this collection:
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Financial Planning: 40s
- Save a total of three times your annual salary in your retirement funds, or at least 15% of gross income,
- Establish college funds for children (if applicable),
- Increase your investing expertise & diversify your investment portfolio assets,
- Improve your job skills and ...
Financial Planning: 30s
- Take charge of your finances,
- Completing your education,
- Repay your student loan completely,
- Create emergency funds of 3-6 months,
- Save a total of one annual salary in your retirement funds,
- Start life insurances & policies to protect dependents,
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