Your financial goals will likely change as you go through different stages of life. Use this table as a guide to reviewing and updating your goals.
|If you’re at this stage of life||Your financial goals may include|
|Post-secondary and early career years|
You may be getting training, going to college or university, starting a career, or maybe finding a life partner. Spending is often greater than income.
Paying for post-secondary education
|Family and career-building years|
You may change jobs to enhance your career. Your income usually rises during these years. You may also start a family, and want to save for your children’s education.
|The pre-retirement years|
Your expenses may start to go down, and savings can really start to build. If you have kids, you may help pay for some of their costs, like education or a first home.
Paying off mortgage and all other debt
|Early retirement years|
You may want to work less and pursue interests like travel, volunteer work or part-time work.
Starting a new business
Rodney and Rose have recently retired and have decided to review their financial plan. Read their story to learn more about reviewing and updating your financial goals.
Content in this section is provided in partnership with Investor Education Fund, a non-profit organization founded and supported by the Ontario Securities Commission that provides unbiased and independent financial tools to help Canadians make better money decisions. To find out more, go to: GetSmarterAboutMoney.ca