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You Can Celebrate Your Milestones!

| May 02, 2023

With each season of life, new milestones will impact your budget. However, when you enter your 30s and 40s, these milestones have a much heftier price tag. The sheer costs can be intimidating, whether it's a wedding, a new home, or kids.

But there's good news! Your 30s and 40s are also your peak earning years. This age range is when full-time workers generally begin to make the big bucks and accomplish significant career achievements. So the more substantial milestone expenses become more affordable in these more abundant earning years.

In addition to balancing spending and saving, focus on these ten tasks to prepare your financial plan for anything and to ensure you're doing all you can to invest in your future:

1. Invest in yourself. Learn new skills and focus on long-term career goals or a career change.

2. Supercharge investments. Take advantage of time in the market and max out 401(k) employer match.

3. Increase automatic contributions. Increase your 401(k) contributions by 1% every year.

4. Network. Actively keep in touch with friends, colleagues, and other professionals.

5. Pay off debt. Pay it off now so you won't bring debt into retirement.

6. Focus on healthcare. Learn about insurance plans, deductibles, and HSAs, and stay healthy!

7. Invest in your kids. Teach kids the value of a dollar, how to save, and the importance of budgeting.

8. Talk to your parents. Find out where they stand financially for retirement, healthcare expenses, etc.

9. Create a will. Be prepared, so your family is taken care of in the event of an unexpected death.

10. Create an emergency fund. Have enough cash set aside for any unexpected expenses.

Another essential thing to remember is that we're here to help as you move toward each new milestone. So call us and together, we can reevaluate your investments and map an updated path to keeping you on track.