At Bluestone Financial, we believe a strong financial plan should evolve as your life changes. After gaining clarity on your current financial picture—your income, expenses, assets, and liabilities—you can begin crafting a personalized plan that supports both your present needs and future goals.
To help guide you, we’ve outlined five common stages in an adult’s financial life. Think of them as a framework—not a fixed path. Everyone’s journey is unique. You may move through these phases in a different order, skip some entirely, or experience them in your own time.
Phase One: Starting Out – Building Habits That Last
You’ve graduated, landed your first job, and settled into your first home. It’s an exciting time—but it can also be financially overwhelming. Expenses often outpace income, and the temptation to rely on credit is high.
Now is the time to establish the habits that will serve you for decades: don’t invest what is left over after spending; spend what is left over after investing. And invest monthly, it’s ok to start small. You might be drawn to high-risk, high-reward investments, but caution is key. Learning through experience is valuable, but losses can be avoided by starting slow and gradually building financial confidence.
At Bluestone Financial, we help young professionals set a strong foundation—so they’re prepared, not pressured.
Phase Two: Marriage, Mortgage, and Milestones
In your late twenties to early forties, life is full of transitions—getting married, raising children, buying your first home. Financial obligations grow quickly, and saving can feel impossible.
This is when disciplined planning matters most. Emergency funds, household budgets, and automatic savings contributions help keep your finances on track. If you’re saving for your children’s future, starting early can make post-secondary education more affordable down the road.
Our advice? Treat savings as a non-negotiable line in your budget, and use credit only when it serves a clear purpose. You don’t have to do it all alone—we’re here to help you prioritize what matters most.
Phase Three: The Core Earning Years – Balancing Opportunity and Caution
Between 40 and 55, income is often at its highest—but so is the complexity of your financial life. You may face career shifts, personal challenges, or unexpected expenses. At the same time, children may be finishing school, and the mortgage could be winding down.
This stage presents a valuable opportunity to focus on building long-term wealth. But be careful not to chase risky investments to make up for lost time. A steady, conservative approach—backed by expert guidance—can help you grow your retirement nest egg with confidence.
Phase Four: The Peak Years – Preparing for Life After Work
From 55 to 65 you’re nearing retirement. Your income is strong, your expenses are shrinking, and your investments should reflect your upcoming transition.
Now is the time to fine-tune your plan: maximize RRSP contributions, explore tax-efficient strategies, and ensure your portfolio reflects your risk tolerance. While the temptation to “catch up” may still exist, there’s little room for error. Every dollar saved—and every decision made—has greater weight.
Our team works closely with you during this phase to ensure your retirement plan is not just adequate—but aligned with the lifestyle you want.
Phase Five: Retirement and Beyond – Living with Purpose and Peace of Mind
With the right planning, retirement can be a time of freedom and fulfillment. But financial clarity remains essential. As spending patterns shift toward hobbies, travel, or supporting loved ones, your plan should adjust too.
Liquidity becomes more important. Your investments should be conservative yet still outpace inflation. Ongoing monitoring and strategic diversification are key to preserving your wealth—and your peace of mind.
Even in retirement, your financial plan deserves attention. Whether you’re navigating estate planning, charitable giving, or simply living life on your terms, Bluestone Financial is here to help you stay confident and in control.
Your Journey. Your Plan. Your Future.
No matter where you are in life, you deserve financial advice that evolves with you. The life-cycle approach offers a helpful roadmap—but it’s not the whole picture.
At Bluestone Financial, we offer personalized guidance that meets you where you are and helps you move forward with clarity, confidence, and purpose.
