Life Stage	Snapshot	Challenges	Opportunities
Single working woman	“I work, have no partner or children, and manage my own household.”	Planning for the unexpected. Managing debt. Saving for major financial goals. Saving for a secure retirement.	Develop a budget and an “emergency fund.” Work with a financial professional to consolidate your debt and develop a financial strategy. Establish an automatic investment plan to save for your major goals. Enroll in your company’s retirement plan and maximize your plan contributions.
Single parent	“I work, have no spouse, have one or more children, and manage my own household.”	Planning for the unexpected. Saving for a child’s education. Saving for major financial goals. Saving for a secure retirement.	Develop a budget and an “emergency fund.” Purchase life insurance. Contribute to a college funding plan. Establish an automatic investment plan to save for your major goals. Enroll in your company’s retirement plan and maximize your plan contributions.
Managing my family	“I have a partner or spouse and am expecting or already have one or more children."	Protecting your family. Saving for a child’s education. Saving for retirement. Assisting aging parents.	Purchase life insurance. Contribute to a college funding plan. If you are working, enroll in your company’s retirement plan and maximize your plan contributions. Consider long-term care insurance for your loved ones.
Nearing retirement	“I am actively preparing for my retirement, which is roughly 20 or fewer years away.”	Feeling the strains of the “sandwich generation” (funding child’s education/assisting aging parents). Having enough money for retirement.	Develop a strategy that accounts for multiple financial responsibilities. Analyze your current financial situation and periodically adjust your investment portfolio accordingly. Consider long-term care insurance for yourself and loved ones.
Living in retirement	“I have retired or am about to, or I am semi-retired."	Potentially spending too much in retirement. Needing to continue working after “retirement.” Being prepared for unexpected expenses.	Envision your retirement and prioritize your personal goals. Develop a financial strategy so you don’t outlive your savings. Review your investment portfolio regularly and rebalance it when necessary. Develop a plan to meet unexpected medical and other emergencies.
Recently divorced or widowed	“I have recently begun to handle my own finances after sharing the responsibility with someone else or leaving it mostly up to that other person.”	Knowing where all your assets and important documents are kept. Meeting the expenses associated with major financial goals (your child’s education, your retirement, etc.).	Get your financial house in order by creating a file containing all of your important personal and financial documents Work with a financial professional to analyze your current financial situation and develop an appropriate plan to help meet multiple financial goals. If you’re working, enroll in your company’s retirement plan and maximize your plan contributions. If applicable, consider a college funding plan, an automatic investment plan for major goals, life/long-term care insurance.

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