When it comes to investing, there’s no single window of time you have to put your money away. Whether you’re 20 years old or already in retirement, there are ways for you to invest, and you should take advantage of them.
But do you know how to invest during every decade? We’ve broken it down for you to make the your decision process easier and more simplified. Keep in mind that life stages can also change your investing strategy and may not fall in the same decade as it does for other people. For example, maybe you had a baby in your 40s or 50s instead of your 20s or 30s. That would be the time to start a 529 account, not simply because you’re in your 30s.
Here are the highlights of how to invest in every decade:
In your 20s…
Make riskier investments because you can handle it! Doesn’t sound like something you want to do? There are other options too. Read about them here.
In your 30s…
It’s time to start thinking about short term investments that will help you do things like buy a home. That’s not all you need to be thinking about though. Learn more here.
In your 40s…
If you haven’t been serious about your investing, then it’s time to start. You still have time to exercise some risk, so what are you waiting for? Find out what you might want your portfolio to look like here.
In your 50s…
Okay, let’s dig in about investing. How can you maximize your investments, save on taxes, and downsize at the same time? It sounds like a lot, but it’s all doable and will help you enjoy your golden years even more. Find out more here.
In your 60s…
Yay! You made it to retirement! But that’s not always a joyous occasion for investors who got a late start. Not to worry though; there are still strategies you can use to save. Learn more here.
If you have any other questions about how to invest for your stage in life, let us know in the comments.
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