Top Money Tips At Any Age

Dated: 02/04/2019

Views: 75

We can’t get through life without navigating money, but where your financial focusdepends, in part, on where you are in your life. Here are some helpful financialmanagement tips by decade:

 20-30 years old:- Maintain a meticulous budget. Apps like Mint.com can help you track expenses.- Set up an emergency savings account with 3-6 months’ worth of living expenses.- Transfer credit card balances to a 0% card and focus on paying it off.- Begin paying down student loans and other debt.

 30-40 years old:- Contribute to a retirement account. Maximize employer matching plans.- Actively build assets by investing in stocks, bonds, and real estate.- Keep a low credit card balance with an eye toward increasing your credit score.- Open college savings accounts for children.

 40-50 years old:- Review and realign savings goals for your current lifestyle. Use a life expectancycalculator to help reach retirement goals.- Create a plan to pay off your mortgage by the time you retire.- Protect assets and earning power with supplemental life and disability insurance.

 50-60 years old:- Track monthly spending. Make adjustments as needed to prepare for retirement.- Consider circumstances like geriatric parents who may need financial assistance.- Put extra effort toward eliminating debt. Pay off credit cards in full every month.

 60+ years old:- Ensure all investments are in low-risk plans to protect assets.- Manage money meticulously and maintain access to credit so you’re ready forunexpected expenses.- Downsize as appropriate and focus on

Visit porchlifeon30A.com for more financial tips on buying or selling property.

Blog author image

Steven Jackson

Steven helps Clients buy and sell vacation and second home properties along 30A and South Walton, giving them confidence in a local, reputable Agent. Steven’s work ethic begins by being of maximum ....

Latest Blog Posts

New Listing Lot 8B Lagrange Rd Freeport FL

This half acre lot is protected with HOA restrictions, though you can build a home as small as 1600sf.  Across street from the neighborhood water front park overlooking Lagrange Bayou. Only 3

Read More

Homes For Sale In Lakeview Estates

In previous episodes, we’ve shared tips and tricks for cutting down stress and living the ultimate 30A lifestyle. In this episode of Bobby J on 30A we’re going to give an insider’s perspective

Read More

Why Do They Call It Blue Mountain Beach

Because of the Blue Lupine, and it is that time of the year!  Click here to see available properties in BLUE MOUNTAIN

Read More

House Flipping Back To Precrisis Levels

 Although house flipping has risen to nearly the same level as it was during the 2006 peak of the housing boom, a new CoreLogic Inc. analysis suggests that most of the current flips are less

Read More