Ultimate To-Do List

Ultimate To-Do List

Throughout the phases of life, there are various financial burdens to overcome. This is a guide to the things I plan to accomplish in the different areas of life through acting early, regularly, and aggressively.

20's

Create an accurate, comprehensive budget.
Research good credit card companies.
Get a credit card to build credit, pay back regularly.
Track all expenses, wants, and needs to avoid overspending.

Pay off debt.
Pay back student loans.
Create an emergency fund to cover six months’ of living expenses.
Have a close family member able to access important documents and financials.
Make copies of all pertinent documents.
Start saving for retirement early.
Save for a downpayment for my first house.
Pay myself first by putting money from my paycheck into retirement and mutual funds.
Cook more to avoid spending money on eating out.
Set up an IRA for retirement.
Develop close ties with a philanthropy that is important to me.
Set aside 10% of assets maximum to control risks and impulsive investing.
Research what tax filing will benefit me the most.
Have pre and post nuptial arrangements in place.
Set aside a specific amount of time, talent, and money towards supporting my philanthropic goals.

30's

When deciding to have a family, I will assess family situations and decide whether to work or to stay at home.
Be conscious of splurging and shy away from debt.
Plan smartly for the long term including financial safety nets.
Continue investing for retirement and in various stock.
Save a large amount before children are born.
Take advantage of Child Credit and the Child-Care Credit.
Send children to summer camps that teach kids about money.
Avoid impulse buys in front of children.
Give my children weekly allowance for the chores they do throughout the week.
Have a savings account set up by age 5 for my children.
Teach my kids the importance of a budget.
Be a good adult example of how to save and spend money.
Create a living will in the event of an emergency.
Continue acting early, regularly, and aggressively.

40's

Diversify financial portfolio.
Write out my will and power of attorney.
Have my spouse and close family on my planning team.
Find a philanthropic advisor to join the planning team.
Work with my planning team to ensure legacy is secure.
Make a difference in the philanthropy sector.
Research to see if I qualify for the Family and Medical Leave Act or other government aid.
Look at loved one’s finances and adjust my own budget accordingly.
Research information on resources for services to help.
Organize important legal documents.
Explore public benefits and life insurance policies.
Schedule a yearly date to review debt reduction plans, net worth, giving plans, and spending.
Be prepared in the event of caregiving.
Revisit and revise retirement plan.

50's

Thoroughly vet and hire financial advisor.
Find a reputable accountant, insurance agent, and attorney.
Have access to all important legal documents.
Identify beneficiaries and talk with them.
Find a financial advisor.
Find an estate lawyer.
Utilize power of attorney if needed.
Encourage family and friends to have a living will.
Research information on resources for services to help.
Organize important documents.
Look for financial or legal help if needed.
Explore public benefits and life insurance policies.
Go to marriage counseling.

60's+

Begin taking money out of saving plans.
Become more involved with philanthropies I care about.
Keep all legal documents organized and up-to date.
Make sure my beneficiary knows where important documents are.
Continue working with planning team to ensure legacy is secure.
Research tax breaks and potential social security benefits.
Remain in close communication with planning team and financial advisor.
Continue investing so my children and philanthropic legacy are financially secure.
Review and update will consistently.
Be prepared in the event of widowhood or becoming a caregiver.
Have spouse and I create a "When I pass" file.
Enjoy the life I have worked so hard to build!