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Establishing a Savings Fund
Young adult.
No advanced planning (maybe have some money to put in though).
Savings option. -
Buying a Car
Young adult.
This would definitely require lots of money to be saved and planning in advance. Start planning when you have your license or at least a year before you're going to get it.
Savings option. -
Receiving Higher Education
Yound adult.
Start planning and saving money when you get into high school.
Both savings and investment options. -
Getting Married
Young adult/working adult with/without children,
Lots of advanced planning/money saved if you're planning on having a wedding. Start planning when you get engaged.
Savings option,. -
Starting a Career
Working adult with/without children.
Not much planning is going to go into this that you haven't thought of while getting your degree. Just finding a job is all the planning.
Investment option. -
Buying a Home
Working adult with/without children.
Lots of planning and savings will have to go into this. Years of planning in fact. Renting beforehand migh tbe smart.
Savings option. -
Starting a Family
Working adult with/without children.
Probably even more savings and planning will go into this than buying a house or car. You'll have these kids for 18 years and your life is going to revolve around them forever.
Savings option, -
Building Net Worth
Working adult with/without children/ pre-retirement.
Not much saving or planning. Just keep living life.
Investment option. -
Retirement
Retirement.
Start saving early so you have money to retire comfortably. Plan ahead.
Savings option. -
Going on Vacation
Any time (whenever you have the money)
Lots of savings money depending on where you want to vacation to. Even more planning. Maps, supplies, sights, etc.
Savings option.
