Financial Priorities by Age: What to Focus on in Your 30s, 40s, 50s & Beyond

Your financial priorities should change as you move through different stages of life—but many people never adjust their strategy.In this episode of Make It Make Sense, Michelle Cropley and financial advisor Michael Bradley break down the key financial goals and mistakes to watch for in every decade leading up to retirement.They cover:●    What people in their 30s should prioritize beyond just saving●    Why your 40s can become the “peak chaos” years financially●    The dangers of lifestyle creep and keeping up with the Joneses●    How to balance retirement savings, debt payoff, and family expenses●    Why liquidity matters just as much as retirement accounts●    The importance of catch-up contributions once you turn 50●    Common mistakes people make as retirement gets closer●    How to transition from the accumulation phase to the withdrawal phase●    What the 4% rule means for retirement income planningThe key takeaway: financial planning isn’t one-size-fits-all. The right priorities at 30 may be very different from the right priorities at 50 or 60—and understanding those shifts can dramatically improve your long-term financial futureArmstrong Advisory Group, Inc., a Registered Investment Adviser.  This content of the post or podcast is intended solely to provide general information regarding our business services. Nothing within the post constitutes personalized investment advice or is an offer to buy or sell any security or insurance product. To the extent you wish to engage us for investment advice based upon your personal investment circumstances and objectives, please contact us directly at (781) 433-0001. Armstrong Advisory Group, Inc. does not offer tax or legal advice, and no portion of the post or podcast should be interpreted as legal or accounting advice. You are strongly encouraged to seek advice from qualified tax and/or legal experts regarding any tax or legal matters relevant to you.   You agree, as a condition precedent to your access to the post or podcast, to release and hold harmless Armstrong Advisory Group, Inc., its officers, directors, owners, employees, and agents from any and all adverse consequences resulting from any of your actions or omissions, which are independent of your receipt of personalized investment advice from Armstrong Advisory Group, Inc.   Armstrong Advisory Group ("AAG") is affiliated with an insurance agency called Armstrong Insurance Group, Inc. ("AIGI"). AIGI offers insurance products and services to customers, including investment advisory clients of AAG. AAG refers clients to AIGI for those products and services. AIGI does not, however, compensate AAG for any referrals.   Certain AAG representatives are also licensed as insurance professionals appointed with AIGI and may earn commission-based compensation for selling insurance products, including insurance products implemented for AAG clients. Insurance commissions earned by AAG representatives are separate and in addition to AAG's advisory fees. This practice presents a conflict of interest as the representative has a financial incentive to recommend insurance products to a client. Clients are under no obligation, contractually or otherwise, to purchase insurance products through any of AAG's representatives or any other AAG affiliated person.