Needs vary as we go through different life stages. For example, needs and priorities may include:

Starters (age 21 to 34 – finishing school or starting on career path):

• to pay off student & other debts, establish an emergency fund, or to save for a major purchase such as a first home.

Builders (age 35 to 44 – may have kids and own a home):

• to provide for dependents, repay mortgage and debts, save for children’s education, ensure families are financially provided for in event of death or disability.

Accumulators (age 45 to 54 – may be progressing in their career and/or have grown young adult children):

• to save for all stages of retirement, reduce current & future income tax, to avoid creating a burden to family in case of major illness.

Accelerators (age 55 to 64 – may be preparing for retirement):

• to re-align and ramp up retirement savings if required, reduce taxes & expenses as you move closer to retirement, ensure adequate provision for living and health care expenses of surviving spouse in the event of death of one spouse.

Preservers (age 65+ may be retired and still active):

• to live comfortably in retirement, minimize tax in transferring assets to the next generation, provide for final expenses and taxes, and simplify estate settlement for the family.