PERSONAL LIFECYCLE
Personal
independence
Monitor progress
toward financial
independence
Analyze
estate plans
as children
leave home
Financial
independence
Reevaluate
estate plans
and adjust
as needed
Budget for
Retirement
lifestyle
Reassess
personal
priorities and
values
Re-evaluate and
Increase coverages
Maximize
life,disability
insurance
to protect
growing income, estate
Review
insurance
to meet
anticipated
needs
Adjust life
insurance to
cover estate
taxes, if
needed
Consider investments
that minimize
taxes
Make a will
Revise wills and
other legal papers
More concern
with “quality
of life”
Prepare for
retirement
expand leisure,
community
interests
Retirement
Optimize
experiences
Plans for
career,future
income
Select
relationships
Marriage
Establish
lifestyle
Become
Parent
Expand career
goals
Put down
roots
Manage stress of
time demands
Protect personal
and family
properly
Develop
budget
Set long-term
goals
Start financial
recordkeeping
system
Establish
Relationships
with financial
advisors
Handle
Increased
child-rearing
costs
Establish
emergency
fund
Insure income
with disability
and health
insurance
Protect
wage-earners
with life
insurance
Manage stress
of changing
relationships
and aging
process
Develop
Investment
philosophy
Plan for financing
children’s
education
Establish
retirement
goals
Life
Stages
Protection
Accumulation
Estate
Planning
Business
Stages
Employee
Benefits
Personal
Benefits
Business
Continuation
