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Episode Info: Click below to listen to Episode 83 – The Life Stages of Financial Planning Part 1 The Life Stages of Financial Planning Part 1 Discover the 4 life stages of financial planning. More episodes >> We all have different phases of our lives that demand unique financial requirements. Financial planning is definitely not a “one size fits all” or even a “one size fits most” type of solution. We each fall into separate categories when it comes to income, expenditures, debt, and savings. However, most of us can divide our lives up into 4 different stages, which Bob and Bailey discuss in part 1 of our episode on “The Life Stages of Financial Planning”. Phase 1: Beginner – Normal age 20-39 (19 Years) – graduate college and debt, first real job, marriage, start having children, purchase first home, starting to pay off college debt, rising incomes Phase 2: Intermediate – Normal age 40- 62 (22 years) – most expensive time of life, second or third child, larger homes and cars, major career advancement, teenagers, college cost, kids get married, accumulation years for retirement, possible early retirement in later years Phase 3: Graduate – Normal age is 62-87 (25 years) – retirement years, downsizing to smaller home, no longer accumulating but withdrawing, Recreational vehicle and travel, grandkids, and possible loss of spouse and health issues in later years as well. Phase 4: Handoff to Next Generation – Normal age 88-100 (12 Years) – thinking about the next generation, great grandchildren, and selling of all assets including home and giving to children; very expensive health care costs. HOSTED BY: Bob Barber, CWS®, CKA® Mentioned In This Episode CIS Wealth Management Group WebsiteFacebookTumblrLinkedin Bob Barber, CWS®, CKA® WebsiteLinkedin Bailey Theaker Website Ep 82 – Are Rental Homes a Good Investment? Website Ep 16 – Procrastination Website Ep 56 – The Loss of a Spouse Website Ep 76 – Inheritolatry Website Want to ask a question about your specific situation? Schedule a complimentary 15 minute phone call. SCHEDULE AN APPOINTMENT Did you enjoy this episode? Sign up for email updates and never miss an episode. Email NameThis field is for validation purposes and should be left unchanged. EPISODE TRANSCRIPT [INTRODUCTION] Welcome to “Christian Financial Perspectives”, where you’re invited to gain insight, wisdom and knowledge about how Christians integrate their faith, life and...
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