From “Nasdaq”:

In a recent article, Laura Adams, MBA, shared investing tips for people in their 20s, 30s, 40s, and beyond. Individuals in their 20s are encouraged to establish an emergency fund, invest at least 10% of their gross income in a tax-advantaged retirement account, and focus on setting themselves up for a secure financial future by investing early on.

Moving into their 30s, individuals are advised to increase their annual retirement contributions and potentially start investing for a child’s education. It’s also essential to update beneficiaries on financial accounts and create emergency documents such as a last will, healthcare directive, and power of attorney.

As people move into their 40s, it’s important to re-evaluate their retirement goals and review their portfolio’s risk level. Individuals without a clear financial plan are advised to consult a certified financial planner to make essential decisions and create a financial plan for long-term success.

In their 50s and beyond, it may be time to slowly shift from growth to asset preservation in terms of investment strategy. Seeking professional advice and regularly reviewing investment plans is essential to protect assets and clarify wishes for heirs. It’s also a good time to consider income sources, including Social Security retirement benefits and healthcare expenses.

These investing tips are a helpful guide for individuals at various stages of life. Laura Adams is a leading personal finance and business authority, aiming to empower consumers to make smart money decisions every day.



Read more: Tips for Investing in Your 20s, 30s, 40s and Beyond