Wealth Timeline

Early Years

At ages 18 -45, the lives of this busy age group are often consumed with keeping up with day to day life. Priorities include finishing school, raising children and etc. Troy works with these busy people in a variety of ways. Basic things like having enough money for survivors in the event of an early death, saving for retirement and college funding seem to be common issues this group faces. Since people in the early years typically depend solely on their earned income to support their lifestyle Troy also works with them to make sure their income can continue at some level if they are sick or hurt and can’t work. As with any age group, taxes and the effect they have on our lives are always a topic of interest for those in the early years.

Middle Years

At ages 46-65, the people in this group are typically just as busy as those in the early years, these are also people in transition. Kids graduating, grandkids arriving, income often rises. The middle years are a time to maximize the power of your income to give you more choices for the future. Long term health care planning should be addressed. Middle year’s people are getting close enough to the retirement years to make a logical forecast as to what their lifestyle might look like. A lot of the time Troy spends with clients is devoted to planning for retirement. While people are in their working years the focus in on saving the proper amount, the proper way to make sure retirement will be a timely event in their lives. This group also tends to start thinking more about their physical health, which is another topic that Troy is very interested in helping with.

Retirement Years

At ages 65 – 80, the “Go Go years”, people may have already decided to retire. If their health is good they may still be working with no intention of retiring. Once people arrive at the point of retirement, the focus shifts to income planning and life planning. The topic of making sure we don’t outlive our money is revisited often. When entering retirement many people will address long term healthcare issues if they haven’t already done so. The focus of this care planning seems to be changing to more home care and less institutional (nursing home) care. People in the retirement years typically take a new view of their assets and how things will unfold for the rest of their lives.

At ages 80 – 90, the “Slow Go years”, these folks have probably started slowing down a little. Perhaps a few less trips to see family, and days spent in a routine. The emphasis for these people tends to turn to financial security and stability. Some of these folks prefer to meet with Troy in their homes, with their family members present. Things are “real” for the people in this group. They want assurance that the plans they laid in past years can be carried out successfully.

Ages 91+, this group has exceeded the average life expectancy of others in our culture. This is the group most of us strive to eventually be in. We can probably all think of a friend or family member who thrived at this age. Because so many of us have the potential to get here the concept of not outliving our money is very important. You can be on the road to being financially stable at later ages with solid planning and a dose of conservative assumptions.