The Nasdaq blog has featured myself and other successful investors talking about how milestones and life stages can help dictate your investment strategies. For me, having a baby made a big difference in how money was allocated! I started a 529 plan as soon as our daughter arrived (CA529), putting aside $1,000 per month in a tax free account. By the time she’s ready for college, there will be enough to pay for room, board, and tuition without any surprises. Of course, if she gets scholarships, that money can then get re-directed in another financially savvy way.
Your very first job, your first well-paying job, marriage, or dissolution of a marriage are all events that may change how you invest. Retirement is another biggie. There’s not a single solution that’s best for all investors, but if you join a company that offers any kind of matching benefits program, take full advantage. This is essentially free money.
If/when you get married, it’s a good idea to schedule a meeting with a financial advisor and CPA. People get married at different ages and stages, so this one calls for a customized approach.
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