Long term goals are effective. Blocking time into 10 year windows can be very helpful, when creating your life plan.
It’s more helpful when you are new to the lifestyle planning concept. We can accept that certain behaviours are likely to occur through specific decades of our life and thus different costs and incomes. This can help when considering planning assumptions for your life goals.
10 – 20 The teenage years, finding a path
20 – 30 Career, travel, relationships, insurance, education, early years
30 – 40 Consolidating, marriage, family, career, holidays, home
40 – 50 Building, investing, debt repayment, business, empty nest
50 – 60 Health costs, retirement planning, business succession planning, extended family
60 – 70 Reduce working, financial planning, downsizing, assisted care costs, grandchildren
70 – 80 Reflection, health care costs, fragility, estate planning, transport, mobility, twilight years