Life Stages

Your financial needs change throughout your life. CommonWealth One Financial Network can help you select from a broad array of investment options suitable to your particular needs at any stage of your life. 

Below are some things to consider for each stage of life.

If you are in your 20s:
It’s never too early to start saving and investing!  Your main focus is getting started in your career, which will most likely be your greatest source of wealth.  If your employer offers a 401(k) plan, this may be a good fit. If a 401(k) is not a choice, you might want to consider a Traditional or Roth IRA

If you are in your 30s:
If you didn't start regular savings in your 20s, you may want to start now and keep saving. You should consider investing in mutual funds that primarily hold growth stocks. At 30, tax deferral is a key issue, so consider contributing the maximum to your qualified plans.

If you are in your 40s:
If you haven't started putting away money for retirement by 40, you may want to get started  If you have been saving, you may want to continue contributing, especially if you can do it relatively painlessly via payroll deductions. It may be time to decrease your investments’ risk exposure.


If you are in your 50s:
If you're lucky, you're hitting your stride in terms of your top income-earning years. Insurance products and other tax-deferred investments may start to make sense. They don't always provide a deduction on current income taxes, but the benefits of tax-deferred growth may be of interest if you're in a higher tax bracket at this point.


If you are in your 60s:
How you withdraw that money may be the trickiest tax decision of your life. It may be a good idea to examine your cash flow to ensure you have enough money on which to retire comfortably.

If you are in your 70s:
Consider conserving your estate in order to to preserve your wealth for your heirs.  You may want to learn more about the federal and state laws which dictate how property, personal items and assets are divided.