How to build wealth in your 20s
Lay the financial groundwork.
Establish your financial independence
Set a course for your financial future
What insurance you need in your 20s
- Making sure you’re covered by insurance is an important part of your financial foundation.
- The first step is to learn about the different types, from health insurance to disability insurance.
Boost your financial well-being
- Start your journey toward financial health by setting goals, tracking your spending and assessing the assets you already have.
- Here’s a 30-day checklist to start building these habits.
How to build wealth in your 30s
Plan for a bright financial future.
Set your personal financial goals
- Do you have dreams you’d like to accomplish? It’s time to form a financial plan.
- You may want to buy a house, start a family or business, or pay down debt.
- A budget can help you keep track of all your financial goals.
Continue to save for retirement
Protect yourself and loved ones
How to build wealth in your 40s
Ways to grow your money.
Explore your options when you’re earning more
- Your 40s are your prime earning years, and that comes with financial options, from paying down debt to charitable giving to bolstering your emergency savings.
- Life events happen—supporting children or parents, divorce, marrying again—so check in with your financial plan as your life evolves.
Expand your retirement savings
Protect your #1 financial asset: you
How to build wealth in your 50s
Get serious about retirement planning.
Make the most of your empty nester lifestyle
- Are your children out of the home? Encourage their financial independence.
- Meanwhile, cut down on your own expenses, reconsider taking on debt, and save when you can.
Envision your retirement needs
Consider your long-term care needs
- Your premiums will be at their lowest now, so consider purchasing long-term care insurance to help with future medical or personal needs.
Picture the legacy you want to leave
How to build wealth in your 60s
Make key financial decisions.
Prepare to make the leap to retirement
Apply for Medicare
- After you turn 65, you can apply for Medicare. You’ll have the option to buy supplemental coverage, as well as coverage for prescription drugs.
Re-evaluate your insurance portfolio
Talk with family about estate planning
- Your estate plan spells out the legacy you’ll leave loved ones, so get them involved in the conversation.
- Discuss topics like who should be beneficiaries for certain assets or who will take on a family business.