Financial Advice From Your 20s to 65 | US Equity Advantage

1. Financial Advice From Your 20s to 65+ | US Equity Advantage Financial needs change as our lives progress from one stage to the next. The right financial advice for you at 21 won’t necessarily be the same as when you’re 51. We’ve compiled some important financial advice geared toward every age from young adults through retirees. Remember that everyone’s situation is unique and you should consult a professional adviser before making any important financial decisions. Financial Advice for your early 20s •A college education can have a great return on your investment. According to USA Today, having a bachelor’s degree can result in a 30 percent increase in salary for some positions. If you don’t think college is for you, perhaps consider a technical trade as suggested by Fox Business. There are shorter educational paths that can greatly increase your income potential. Take these years to become as valuable as you can in the workforce. • Learn about investments and your finances. Being finance-savvy will help you for the rest of your life. If you are in college, consider taking a finance course. Or just start reading — no school necessary. Here are some great finance book recommendations. • Start investing early to maximize the potential for big returns over time. Let the power of compound interest work for you as long as possible. In the graph below, you will see how investing early can net you big earnings later in life. The results are staggering — you could become a millionaire!

2. JP Morgan Funds Financial Advice for your 20s and 30s •Invest for growth. This is a time to consider higher risk investments. It is easier to recover from any losses with a longer time horizon. •Build an emergency fund. Things don’t always go your way, so save for a rainy day. A commonly recommended amount is three to six months’ worth of expenses according to Bankrate. These savings are extremely important in the event you lose your job or experience a financial emergency. •Minimize debt. It can be easy to let credit card spending get away from you at this age — there are so many concerts, trips and other fun stuff to enjoy. Try not to let it snowball. Also be wary of payday loans and renting-to-own as you head out on your own, which may not be best for your pocketbook in the long run. Financial Advice for your 30s and 40s •Prepare for education expenses down the road. If you have kids, Florida Prepaid can help you save for college. You put money away like you would in a 401k plan says U.S. News. Outside of Florida you can consider a 529 plan, which functions similarly. You can even start paying for college credits immediately with a 529 tuition plan. Paying your mortgage off early with a biweekly payment plan can get you out from under that debt faster and save you thousands in interest that could go toward other purposes, including helping your kids with educational and other life goals. •Don’t stop investing in yourself. Stay up to date with professional training and pick up additional skills as you can to stay valuable in the job market. If there’s new software in

3. your field, get certified. You want to stay marketable and valuable to potential employers. •Look at life insurance and long-term care insurance. If someone is depending on your income, make sure he or she will be taken care of in the event of your death or disability. Policies tend to be less expensive if you purchase them when you are younger, so don’t procrastinate. Financial Advice for your 40s, 50s and 60s •Max out your employee benefits, like 401k as well as your IRA. Put in as much as you can up to allowable limits. These may be the years that you earn the most in your life, so put those earnings to good use while you can. •Start taking less risk with investments as you near retirement. Big losses can be devastating at this stage in life. •Write your will and keep it current (though, you really should do this as early in life as you can). It’s good to review and update your will whenever you have any major life changes, or at least on an annual basis as your finances, relevant state and federal laws, and relationships can all change over time. Financial Advice for Retirement, 65+ •Are there any gaps in your retirement savings? If so, you may want to consider delaying your retirement, lowering your living costs, or even taking out a reverse mortgage (an option that should be carefully considered). •You’ll have to make some big decisions about when to start drawing Social Security benefits. There are a variety of factors that can tell you when you should wait for a larger payoff. For example, your health and life expectancy may make it a smarter decision to continue working. •Should you consider relocating for retirement? You may be able to stretch your retirement dollars and enjoy warmer weather or other advantages — a win-win scenario! For example, Nevada has no individual income tax on pension income (just don’t take that pension check straight to the casino). If you’re really adventurous, you may consider retiring overseas. •Don’t forget to have fun —after all, that’s what all that work was for anyway! Did we miss anything? Let us know @USEAloanpayoff For more information, visit us at http://www.usequityadvantage.com/ Sources http://www.forbes.com/2010/12/16/life-insurance-shopping-personal-finance-term-permanent.html http://www.usatoday.com/story/news/nation/2014/06/24/college-diploma-degree/11303295/ http://www.usatoday.com/story/news/nation/2014/06/24/college-diploma-degree/11303295/ http://www.bankrate.com/finance/savings/how-big-should-emergency-fund-be.aspx http://money.usnews.com/money/personal-finance/articles/2014/05/20/5-ways-to-save-for-your- childs-college-education http://www.bankrate.com/finance/investing/tips-investing-late-in-life.aspx http://www.aarp.org/home-garden/livable-communities/best_places_to_retire_abroad/ https://www.jpmorganfunds.com/cm/Satellite?UserFriendlyURL=gtrbrowseslides&pagename=jpmfVani tyWrapper http://www.icmarc.org/news-and-views/late-career-newsletter/nl-retire- strategiesforfillingtheretirementincomegap.html