Anonymous
Like dependents, income levels, financial expectations... etc.
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Charmaine Ng
07 Jul 2018
The Value Maximizer at @ Every Ma La Xiang Guo Stall
Both; but personal circumstances would be more relevant. To me, age affects in the planning of x amount of years to retirement; my expected remuneration at different stages of life and expenses with the embarkment of new stages (say, getting married and kids etc.).
However that can be very general and financial planning is a very personal thing which should be customized for you. Everyone have different timeline - I have friends still making the most out of their education at 30 (yet to go into workforce) and friends who had kids way earlier that they are at the stage of preparing for the kids education (university). That, coupled with other factors like # of dependents, effect of dependents, lifestyle choices etc. are all personal and different.
Hope this helps!
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Daniel Lee (CFP®)
07 Jul 2018
Independent Wealth Management Consultant at Promiseland Independent Pte Ltd
I second what Luke had mentioned, age doesnt really matter in determining your risk appetite but ...
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Yes. We should be able to take more risk when younger as in the event of loss, we still can make back with work. as we age, our jobs are not certain