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Buying a Vehicle (Ages 15-25)
Buying a vehicle requires advance planning for usually around 6 months at least depending on the vehicle. They should begin planning this event around the ages 15-25 when they have their driver's license. This event should definitely be a savings option. -
Receiving Higher Education (Ages 15-25)
Receiving higher education like college requires advance planning so they should begin planning it around their high school years for a few years. So, in this case, this event requires a savings option. -
Establishing a Savings Fund (Ages 15-25)
Establishing a savings fund doesn't require advance planning really however it obviously requires a savings option. You can do this anytime of day. -
Starting a Career (Ages 15-25)
Starting a career does require advance planning and so they should begin planning this once they figure out who they want to be when they grow up usually around high school for at least several years. This is an investing option -
Getting Married (Ages 26-45)
Getting married definitely requires advance planning so the couple should begin planning this when they're ready they want to spend their lives together and plan the wedding. This should take at least a year. This should be an investing option. -
Starting a Family (26-45)
Starting a family is a advance planning option and they should begin planning for a couple of years if they want once they're married or have a stable relationship. This requires a investment option. -
Buying a Home (Ages 26-45)
Buying a home requires advance planning and so they should begin planning it for at least a few years until they're certain their keeping their home. In this case, this is a investing option. -
Building Net Worth (Ages 46-65)
Building net worth doesn't require advance planning because you can start around this time before retiring so this would be a savings option. -
Retiring (Ages 65+)
Retiring requires advance planning so they should begin planning it once they start turning this age and can no longer work anymore. So, this process would take at least a year so this is definitely a investing option. -
Going on Vacation (Ages 65+)
Going on vacation requires advance planning so they should begin retiring and once they plan out a visit to a different and exotic place for at least a few days. This process would last at least a year to plan everything out for their vacation and so this would have to be a savings option.
