by Eleanor Blayney, CFP (NAPSA)—Many Americans find that changes in the economy are forcing them to adjust toa “new normal” when it comes to their finances. Part of that adjustment is the need to evaluate the way they approach each stage of their financiallives. Each new phaseof life brings new financial responsibilities, needs and goals. You need to know the right moves to make, and when to make them. As a certified financial planner professional and the consumer advocate for the Certified . Financial Planner Blayney (CFP) Board of ‘Standards, I know —_—— how important it is after 65, you will want to make modifications to your plan as you respond to an ever-changing economic environment. The material is presented online with a video, a lesson in Each phaseoflife brings finan- cial responsibilities, needs and goals. You need to knowtheright moves to make and when to make them. sions build upon each other over time: there are financial decisions that you can make to improve your own financial situation. At the When you arefirst starting out on your own, between 18 and 25, your focusis to get out of debt and to stay on the right financial path. When you are putting down roots, buying a house or starting a family, as people often do between the ages of 25 and 40, you will be making big financial decisions, and you will want to be mindful of the consequences of these decisions downthe road. e And just when you reach the prime years, when your income has grown and you have begun to save, between 40 and 55, you may find yourself under new financial pressures and needing professional financial advice more than ever. Between the ages of 55 and 65, time seems to accelerate, and your gameplan hereis to accumulate more wealth so that you can Strategies series shows how deci- e In your reinvention years, to have a plan. Thereality is that you are never too youngor too old for financial planning. Stages, Strategies and Tips To help people make the right decisions at each stage, the CFP Board released “Lifelong Financial Strategies,” a series of multimedia presentations with financial tips for each stage of your financiallife: 1.The Starting Out Years— Ages 18-25 2.The Nesting Years— Ages 25-40 3.The Prime Years— Ages 40-55 4,The Wealth Accumulation Years— Ages 55-65 5.The Reinvention Years— Ages 65 and over Whatever stage you are in, same time, the Lifelong Financial retire with confidence. audio podcast format and a tip sheet. Helping the Public CFP Board’s mission is to benefit the public by granting and upholding the CFPcertification as the standard of excellence in personal financial planning. As the consumer advocate for CFP Board, my job is to help Americans identify qualified and ethical financial planners to help them take control of their financial lives. Rigorous education, examina- tion and experience standards mean that Certified Financial Planner professionals have demonstrated they are trained and qualified to provide financial planning services. And CFP Board holds CFP professionals to high ethical standards that include the fiduciary standard of care, which means they are required to put the client’s interest first and foremost. More than 62,000 financial planning professionals across the country hold CFP certification. In a world where people are more responsible than ever for their financial lives, it’s important to understand the key things you can do in each phaseoflife to reach your financial goals and live the life you choose. Financial planning is for everyone. The good newsis that you don’t have to go it alone. To view and download theLifelong Financial Strategies lessons, visit www.CFP.net or call (800) 487-1497 to find a list of Certified Financial Plannerprofessionals. Eleanor Blayney, CFP, is con- sumer advocate for CFP Board.
