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The Importance of Understanding Your Financial Life Cycle

At the age of 30

* At this time you may already married. Therefore it is important to cover your income with life insurance especially if you already have a child. Do not leave your family experiencing financial pain is too severe because you died too soon

* With the child, then it’s time to prepare the children’s education fund. You can prepare the way of saving money on education savings, take out insurance to education or other investment products.

* Consider insurance to take a more comprehensive health insurance to cover as the risk of accidents, critical illness, permanent disability due to accident, or risk other health risks that have not covered the health benefits of your company

* Do not forget to to cover your property with insurance as well as vehicle insurance fire insurance

* Make sure you take the mortgage down home loan or mortgage that you are not too burdensome. Take the time to compare between banks offer mortgages to one and do not be lazy to hunt for your dream house, to fit the budget with the desire.

* If you already have a number of treasures, make a will. Making a will is easy and inexpensive, but people have not used because it does not know how. Very important fact is that families who left did not fight for the estate, also makes it easier with paperwork for couples and children. You’d better ask the experts to a friend or an experienced Notaries in making a will.

* Evaluation on retirement programs that you follow, be sure to have given a number of investment return you expect.

* If you are still grappling with the credit card bills, try to control your lifestyle and gradually paying off bills debt. At least look for ways that you can pay this debt repayment cheapest way.

* Add your knowledge and experience in investing, be creative and start investing outside of a bank product. Find also investment at reasonable cost, flexible investment deposits, easily accessible, small tax-free even if you can tax, and liquid.

At the age of 40

* Try to increase savings and investment deposits each year primarily for retirement preparation. Make sure the deposit of savings and investments always go up in accordance with the increase in your income. Each time getting better fortune in the form of bonuses or THR, Set aside in advance to increase your investment.

* Evaluation of Sum Insured more life insurance that you take, whether the number is already in accordance with the need to cover the risk of losing income. If the cost of your family life has changed, up or down, so should the amount of money his life insurance coverage are also adjusted

* Make sure that your mortgage payments continue running as it should according to schedule, save all evidence of record following payment of the last balance of your mortgage debt. If interest rates rise, and therefore the number of installments to be too heavy, you can consider to extend the period of time.

* Conversely, if you’re lucky to have a big enough budget, can be considered for a mortgage repayment of some or all current mortgage balance. Doing this can make you save mortgage interest payments, and accelerate the repayment time.

At the age of 50

* Upon retirement, you should balance your retirement, so that it can perform an evaluation and revision if the funds collected are still far from the target.

* Review all your investments, if almost all of your investment risk and make haste to do in proportional allocated to investment risk is lower,

* Note when the last mortgage payment and make sure that the mortgage repayment will be over before you retire,

* Consider having health insurance for old age, which covers medical expenses and inpatient hospital happened. Old age health insurance or long term care insurance is the benefit should be enjoyed at the time of retirement until the rest of your life,

At retirement age, 55 or 60 of the

* This is the time to make a claim pensions from the retirement program that you follow all this. Followed by pension funds from your employer, will usually give the entire pension fund in the total, so that your next stay take the accordance with the needs of every month, and the rest invest to continue to develop into an investment instrument that is not risky can give an opinion but remain equivalent to interest.

* If you join retirement program Social Security, immediately filed a claim with these government agencies. You can get two choices, if can be taken at once or take it like a monthly salary. If you had changed jobs several times, but the Social Security retirement program in the previous companies you have not had a claim, but already a new start, do not hesitate to make a claim separately

* Perhaps once idle retirement program offered by a bank or insurance company. Do not be ashamed to make a claim simply because they feel the money is not how. Because little or a lot at this age the amount will be very significant.

* Maximize all your assets can be idle to generate income for you. For example if you have land, buildings or unemployed vehicle, maybe you can get a rental income from these assets.

* Beware of high-risk investments, the fluctuating character probably less suited to the age and your health.

* Double check whether your will is the way you want, make changes if necessary. Make sure you and your spouse take the kids to know about the will,

Consider setting aside some funds in cash to prepare for the death of your funds and couples. It sounds very unpleasant menakutan too, but these measures will greatly help the families left behind, although not able to reduce the pain of people who love you that you have left.

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