It can be overwhelming trying to deal with everything in personal finance. The list below is something AI generated for me when I asked for a cradle to grave list of things related to personal finance.
I don’t have a list of tools for all of those things but I do have one for the stage of life I’m in now and that can be found in my new ToolBox page which focuses mostly on pre-retirement. If I have time I will build tools for all of the things listed below but I’m really busy focusing on retirement prep for now.
Childhood & Teen Years
- Financial Literacy Basics – Introduction to money concepts
- Allowance & Earning Money – Learning value and management of small income
- Budgeting Basics – Simple budgeting for expenses and savings
- Spending vs. Saving – Differentiating needs and wants
- Bank Accounts – Setting up a basic checking/savings account
- Saving for Goals – Learning to save for short-term goals (toys, gadgets)
- Gift Money & Earnings – Managing gifted money and part-time income
- Introduction to Taxes – Basic understanding of income tax on earned money
- Understanding Debt – Basic concepts of borrowing and lending
Young Adults (High School & College)
- Student Loans – Basics of student debt, FAFSA, and financial aid
- Credit Cards – Understanding credit, interest, and responsible use
- Part-Time Jobs – Income management from jobs during school
- Building Credit – How to start and build a good credit history
- Banking Essentials – Using online banking, checking, and savings accounts
- Budgeting for College – Managing school costs and personal expenses
- Saving for Emergencies – Importance of setting aside emergency funds
- Taxes on Income – Filing taxes as a young earner
- Investing Basics – Introduction to stocks, bonds, and compound interest
Early Career
- Employment Benefits – Understanding health insurance, retirement plans
- Income & Tax Planning – Setting up withholding, planning tax returns
- Debt Management – Paying off student loans, credit card debts
- Emergency Fund – Building a cushion for unexpected expenses
- Retirement Planning – 401(k) and IRA basics, employer matching
- Investing in Personal Development – Budgeting for skills and certifications
- Setting Financial Goals – Defining short- and long-term goals
- Insurance Needs – Health, renter’s, and auto insurance
Growing Family & Mid-Career
- Home Buying – Mortgage basics, saving for down payment, property taxes
- Family Budgeting – Adjusting for growing expenses, children’s needs
- Life Insurance – Providing financial security for dependents
- Education Savings – Setting up 529 plans or other savings accounts for kids
- Retirement Contributions – Increasing retirement savings over time
- Healthcare & Disability Insurance – Long-term health planning, disability coverage
- Career Advancement – Salary negotiation, side hustles, entrepreneurship
- Managing Debt – Paying down mortgage, avoiding high-interest loans
- Investment Diversification – Exploring bonds, mutual funds, ETFs, and real estate
- Estate Planning – Creating a will, setting up trusts if needed
Pre-Retirement
- Maximizing Retirement Savings – Catch-up contributions, investment review
- College Funding – Paying for children’s education, FAFSA, loans
- Tax Optimization – Tax-saving strategies for income and investments
- Home Equity – Paying off or leveraging home equity in retirement planning
- Insurance Review – Reevaluating life and health insurance needs
- Debt Reduction – Eliminating remaining high-interest debts
- Long-Term Care Planning – Planning for potential healthcare needs in old age
- Estate Planning Updates – Revisiting wills, trusts, and beneficiary designations
- Charitable Giving – Planning donations and legacy gifts
Retirement
- Income Sources – Social Security, pension plans, annuities, withdrawals
- Budgeting in Retirement – Managing expenses with fixed/limited income
- Required Minimum Distributions (RMDs) – Managing tax-efficient withdrawals
- Healthcare Costs – Medicare, Medigap, prescription drug plans
- Long-Term Care – Funding nursing home or in-home care
- Downsizing – Selling or reducing home costs for affordability
- Tax Planning in Retirement – Minimizing taxes on retirement income
- Protecting Assets – Fraud prevention, elder financial abuse awareness
Legacy & Estate Planning
- Gifting Strategies – Giving assets or money to family/friends tax-efficiently
- Estate Settlement – Planning for executor, power of attorney, and heirs
- Trust Funds – Setting up for family support, charitable goals
- Inheritance Planning – Distributing assets according to wishes
- Final Expenses – Planning for funeral costs, debt settlement
- Philanthropy & Legacy – Leaving a legacy through charity or family
- Reviewing Financial Plans – Ensuring alignment with values and goals until the end