People in this stage are usually under 50 years old - they have finished all their education and their career is underway. They may have even had a career change. They will probably spend most of their years in this stage along with the Life is Good stage. So make the most of it!
Your career is underway and you are ready to advance to the next level. You are ready to start making a difference and having an impact in the world. You may have a family or are ready to start one. Maybe your career is one of your top priorities. Although retirement is in the distant future, you know you need to be preparing for it. In this stage of life, there are a few important financial issues that you may need to consider.
How do I know that I’m saving enough for retirement?
- You need to make sure that you are saving adequate money on a regular basis, using dollar-cost-averaging. The key is to start saving now.
- Understand the benefits your employer has to offer and take advantage of them. If you are self-employed, make sure you have access to the appropriate retirement plan. Understand the difference between pre-tax and Roth, and work with a professional to determine what is appropriate for you.
- Should you pay down debt or save for retirement?
Dollar cost averaging will not guarantee a profit or protect you from loss, but may reduce your average cost per share in a fluctuating market.