Financial Goals for Each Life-Stage

Saving isn’t easy. Knowing where and how to best focus your savings to reach your financial goals can be a daunting task. This is meant to be a helpful, general guide of savings milestones to consider at each life-stage.

Keep in mind everyone’s financial goals will be vastly different. Our Financial Wellness Coaches, Erika Taylor and Lesley Warn, are your go-to resources for all things money management and are available to help with personalized goal-setting. Get in touch with them.


In Your 20’s or Sooner:

  • Establish and maintain good credit
  • Aim to fully fund your emergency savings (enough to cover 3-6 months of living expenses)
  • Secure your own health insurance (most employer-sponsored plans end dependent coverage at age 26)
  • Open and begin to contribute to a retirement fund (an employer-sponsored 401K, IRA, or other tax-beneficial account)

In Your 30’s:

In Your 40’s:

  • Reduce or eliminate non-mortgage debt (learn how to use credit wisely)
  • Start contributing to a college savings plan, such as a 529, for any dependents
  • Aim to save twice your income
  • Review and adjust your insurance coverage as needed

In Your 50’s:

  • Maximize your retirement plan contributions
  • Pay extra towards your mortgage (making it automatic can help)
  • Look into long-term care insurance

In Your 60’s and Beyond:

  • Fine-tune your retirement goals and adjust your savings plan as needed
  • Revisit your will and any estate planning needs
  • Consider meeting with a financial advisor