| Life Phases | Common Needs/Wants | Solutions |
| Getting Started | Financial stability; emergency savings; avoidance of consumer debt; modest retirement savings; contingency plans for death, disability, and financial set-backs | Live within means; save for emergencies in pass-book savings, money market fund, and CDs; save for retirement in IRA and ?401(k); buy term insurance |
| Early Accumulation | All of the above plus home purchase; education savings for children; increased retirement savings and insurance coverage | Continue above plus establish ?529 education funds invested in mutual funds and fixed-income investments; buy permanent life insurance; have business establish SEP IRA and continue IRA using mutual funds, and annuities; invest in long-term growth and income mutual funds |
| Primary Accumulation | All of the above plus increased non-qualified investments and life and disability coverage; estate planning | Continue above plus place/purchase permanent insurance in irrevocable trust; diversify investment portfolio; purchase vacation residence |
| Pre-Retirement | All of the above plus business continuation; life insurance for estate equalization; conservative investments | Continue above plus execute business continuation agreements; purchase estate equalization life insurance; make investment portfolio more conservative with more fixed-income investments and annuities |
| Post-Retirement | All of the above plus effect business buy-outs; sufficient retirement income that lasts for life; continue wealth transfer techniques; estate plan that works | Continue above plus effect business buy-outs; maintain conservative investment portfolio made up primarily of fixed-income investments; monitor retirement income resources; keep estate plan up to date |
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.