20's: Single Life
- Graduate from Auburn University
- Decide if I want to further my education in graduate school
- Get a job that I enjoy
- Increase my savings
- Build credit
- Create and stick to a realistic budget
- Work towards becoming financially independent
- Travel and gain new experiences
20's - 30's: Pre-marrige and marrige
- Establish a saving and spending plan
- Decide weather or not to pool our money together and if so how much
- Discuss debt
- Compare our credit reports and credit habits
- Attend Pre-Marrital counseling
- Figure out each others money management styles so that we can be aware of areas in which we might disagree
- Decide how we will pay for bills
- Discuss individual goals, career goals, and what goals we have as a couple
- Decide on our philanthropic giving (what organizations we will give to and how much)
- Set up a monthly time to meet and discuss finances
- Update beneficiaries
- Re-title any properties we may have if we would benefit from shared ownership
- Create a will
- Communicate honestly, openly and clearly
- Give to organizations and philanthropies that we are passionate about
- Start an emergency fund
- Travel as much as possible before having children
- Take advantage of tax breaks
- Go back to The Big 4 if needed
30's - 40's: Parenting And Raising Money Smart children
- Discuss with my husband if we are ready to have children
- Discuss with my employer maternity leave options
- Call my benefits department for information about child care reimbursement and tax credits available to us after our babies come
- Teach my children the finical knowledge that I have learned and show them how to be frugal with their money
- Start a college fund for children
- Start a savings fund for children
- Set up an allowance for my children and teach them how to be financially responcible
- Prioritize giving and teach them the importance of helping others
- Help my children find their passions
- Foster a home environment of trust, integrity, honesty, fun, and love
40's - 50's: Saving and investing
- Try my best to save 20% of my monthly income
- Try my best to give 10% of my monthly income
- Act "early, regularly, and aggressively" in all aspects of my finances
- Invest my money wisely into stock and bonds
- Use a retirement-planning calculator to estimate how much money will need in retirement
- Keep organized record of my finical spending, saving, and investing
40's - 50's: Divorce
- Keep my children my top priority and ensure that all of their needs are being met
- Create a financial plan before I file for divorce
- Seek help and guidance from an attorney
- Know where all my money and assets are before the divorce and how to manage them properly
- Communicate effectively and efficiently with my spouse throughout the process to create as little conflict as possible
- Choose 2-3 close friends or family to confide in and choose them wisely
- Seek counseling for myself and my children
50's - 60's: Caregiving
- Communicate with my parents about their desires and needs for caregiving
- Collaborate with my two siblings throughout the process
- Make sure my parents have long-term insurance
- Research available options for care both in-home, assisted living, nursing homes etc. in the community before the need arises
- Take advantage of tax breaks available to me during this time
- Hire appropriate professional assistance if needed (attorney or someone specializing in care of the elderly)
- Make sure I know my employers policy on family emergencies and medical leave for assisting family members ahead of time
- Make sure that I am taking care of my self fist and meeting my needs emotionally, physically, and mentally so that I can adequately meet the needs of my parents
60's - 70's: Widowhood
- Discuss with my husband early on in our marriage what we would do if one of us are to pass away and the steps we would take if one of us does.
- Hire an attorney and a financial advisor to assist my husband and I with creating our wills and planning for navigating widowhood
- Honor my husbands wishes after his death and uphold his legacy
- Surround myself with supportive family and friends to lean on in this difficult time
- Seek counseling to help me navigate the grief and pain in a healthy way
- Make no major decsions 6 months to a year after my husbands death
- Make needed financial adjustments that line up with my new life style as a single women
Building my legacy and planning team
- Build my team with people who are wise, hard working, and caring
- Plan for major life events thoroughly and thoughtfully
- Stick to my values
- Make no major life decisions without consulting my planning team
- Always remember that I am living my legacy now