Since 1992
Print and digital marketing
By Kevin Frisbie
Frisbie & Associates
LEWISTON — We talk with people a lot about the financial stages of life. Most people have never really heard how they are broken down, which probably explains why we see so many people with investments, make mistakes in this area.
In a simple explanation there are three stages of your life and money.
The first stage is what we call the “accumulation” stage, targeted at individuals from 20- to 50-years old. During that stage, you’re in line to be able to take and handle risk in your investments.
The second stage affects individuals ranging in age from 50 to about 65 years-old, who should be looking at their investments and begin to “manage and minimize” the risk.
The third stage is what we call the “distribution” stage, where it becomes critical to have a handle on retirement plans and really scale back the amount of market risk exposure, maintaining the value of investments. It is also important to look at withdrawal strategies to minimize taxes and be efficient with your plan.
Frisbie & Associates has officers in Lewiston, Runford and Brewer. Call 207-241-7430 for more information.
