Infographic: Personal Finance Goals For Every Age

It’s been a while since I’ve built an infographic, so I decided to build one today, as a celebration for New Year 2018!!  A Blueprint, if you will, to show you some suggested personal finance goals for every age as you work your way toward a Great Retirement.

I wrote a detailed article titled Money Goals For Every Age which gives more context to the Infographic, feel free to read it if you’d like to get more background on the topic.  Otherwise, just have a look at the high-level targets for personal finance goals for every age below, and see if you’re on track as you set your goals for the New Year!


If you’d like to dig into the topic in more detail, I’ve included links to some relevant articles from major personal finance sites below.  Spend some time thinking about where you may have gaps, and consider setting some personal goals to improve your situation in the New Year!


  1. Very nice! I think we’re doing all right so far… but I certainly have some goals coming up in 2018 to improve our finances while balancing out life as well 🙂 Thank you for the infographic and motivation!

  2. Happy New Year, Fritz!

    Nice infographic! But yikes — when you lay it out like that I can see my two lost decades — my 20s and 30s. But that means there’s HOPE for anyone!

    Are you still saying “Nay Nay” (to quote our favorite comedian, John Pinette, who is no longer with us.) to long term care insurance?

    1. Hey Mrs G!! Indeed, you’re proof positive that even “Financial Morons” (I love the way Mr. G writes!) can achieve early retirement!!

      Yep, we’ve finalized our decision on Long Term Care. We’re self-insuring. I laid our our logic here, and we’re still holding to the conclusion. Are you evaluating it? I’d be interested in what you decide!

    2. After visiting my father in the assisted living facility over Christmas, I think we need to re-visit this too. My parents have “self-insured” but long-term care insurance is something I need to learn more about. My parents are 87 (Dad w/Alzheimer’s) and Mom is 78. My “longevity” charts show 94+… What on earth will long-term care cost then? So scary.

      1. Here are a few things to consider about assisted living which the glossy brochures don’t talk about. The information comes from my 96-year old mother, who resides in a very well-regarded, non-profit facility. She flat-out says if she had it to do over, she never would make the same decision.

        Her main reason is lack of privacy. For example, she’s in a bumped-up level of care, what you might call one notch above independent living. As such, she isn’t allowed to have any over-the-counter medications in her room. Staff members come in at any time, rummage through all her cabinets and drawers, looking for “contraband.”

        Not long ago, a staffer seized her petroleum jelly, for heaven’s sake! I can understand taking her generic Tylenol–it’s possible to take too much of that, since the ingredient is in so many medications you don’t expect–but petroleum jelly??

        They also go through her refrigerator and remove things without telling her, supposedly looking for outdated items. A friend purchase liverwurst for her (Lord only knows how anybody can actually eat that stuff, but anyway…). It was in the frig just one day before it was confiscated. Being a squeaky wheel, my mother did complain to one of the administrators, who made sure somebody went out and bought her a new package. But it does make you wonder.

        Another problem is the staff has a key to her room, so they come in at 1 or 2 in the morning to empty her trash, or to bring back her laundry. Many times my mother’s been awakened from a sound sleep because of these intrusions. It’s almost as if the residents (or, as she now calls them, the inmates) must live their lives at the convenience of the system, rather than the system existing to serve the paying customers.

        People handing out medications have all of 2 days’ worth of training, which is downright scary to me. I had significantly more training when working as a vet assistant, for Heaven’s sake. They’ve made mistakes more than once, too, which my still-sharp mother managed to catch. But what happens on the day she doesn’t? They also have a bad habit of handing her pills with ungloved hands. And keep in mind, this is one of the BETTER facilities in her state, with no reported deficiencies or fines. Yow:(

        Staffing levels declined a lot in the 3 years she’s been there, with RNs helping to pass out meals in the dining room. Full-time personnel have seen their hours (and benefits) cut, which is a big reason for the shortage of workers. The quality of the food served has taken a tumble. Transportation is available, but she has to pay out-of-pocket for it. A round-trip ride to the doctor’s office, accompanied by an aide, can hit $100 a pop.

        A friend of hers had a visitor who had been a career firefighter. He was quite disturbed by the facility’s evacuation plan, which called for residents to leave their rooms and assemble at the 5th floor atrium. “Smoke rises,” he told this lady. “If there’s ever a fire here, no one will get out alive.” How many people ever think to research a facility’s evacuation plan, or have the expertise to evaluate it? I’ll bet most people assume the state or Federal licensing agencies have that base covered but, apparently, they don’t.

        From what I’ve been reading about the long-term care industry, the problems she’s experiencing aren’t unique. Staffing shortages are happening all over, and are predicted to get worse. Changes in Medicare regulations (like reduced stays for rehab) have impacted the profitability of these facilities, so for people paying their own way (like my mother), room charges are increasing every year.

        My husband and I had considered putting our names on a waiting list for a CCRC “just in case,” but after hearing my mother’s first-hand experiences, we’ve changed our minds. Instead, we plan to use our policy’s long-term care benefits to cover in-home care. After that, who knows? Maybe we’ll get lucky and die young-ish. Aging in America ain’t pretty.

        1. Scary stuff, Ann. As a counter-point, my 87 year-old Mother-In-Law lives in a Medicaid facility in our town (Alzheimers, she lived with us for 4 years but had to move into the home when she broke her hip), and we’ve been blown away by how good they are, given that it’s a Medicaid center. She absolutely loves it there (weird, right?), and loves the freedom to roll down the halls in her wheelchair and talk to her “friends” (even tho no one can remember anybody’s names!).

          Looks like we got lucky. No doubt the long-term care issue is going to face some extreme demands over the next 20 years as the wave of Baby Boomers starts requiring that type of care.

  3. Nice job … So much packed into that “info graphic”. I wonder what an info graphic would look like for the “go go / Slow Go / no go” phases of regular retirement vs those on the FIRE retirement plan.

  4. Hey, Fritz. Happy New Year, my friend. Love the infographic. Although I do weep when I contemplate how financially imprudent I was in my 20s and 30s. Meh. How come this stuff isn’t drilled into our young people while they’re in school? Don’t we want a country of financially savvy adults?

    1. Yeah, word on the street is that you were a Financial Moron. 🙂

      (Note to readers, please appreciate the humor. I’m not humiliating Mr. G in front of the world, he actually called himself a Financial Moron in this post, well worth your time to read, btw!).

  5. Nice graphic! I would say that “avoid lifestyle inflation” should be in the 30’s, 40′ and 50’s. Only because I see that rule violated more than any other. Could be because I’m in the DC area which could be called “the official Lifestyle Inflation Zone”

  6. Good points for each year group. Another source on the is Ben Stein’s book “yes you can get a financial life”

    He provides goals, tracking and suggestions for each age group as they go forward, and demonstrates where you should be along your financial journey. His guidance is not really for those trying to retire early (i.e. he goes for a smaller savings % than many of us) but the overall guidance is good.

    note: I do not benefit from purchase of book, I just wanted to get it out there. I believe it sells on Amazon for under a $1 used.

    Good luck to all in the new year with their goals!

  7. Great breakdown by age group!

    Now wouldn’t it be nice if we were shown these amazing infographics earlier in our lives (cough High School Financial Education Reform cough), as opposed to seeing them when we’re already passed those ages?

    Thanks for creating this and sharing it!

  8. Nice infographic, Fritz! And happy new year! Perhaps one thing to consider adding in each decade is a “marker” for FI. For example, having 2 x annual income in assets + zero debt at age 45 means you are “on track”. At the same age, a FIRE metric may be to have at least 25 X annual expenses in debt-free assets accumulated. Harder target, for sure, but at age 45, an important one to ponder. After all, realizing you are an AAW or UAW at that age must really light the FIRE under your chair (pun intended :-)) Anyway, that’s the concept behind my PAW calculator, as you are aware:

  9. Max out retirement account needs to happen in your 20s. Waiting is a really bad move. You miss out on so a ton of compounding.
    Other than that, looks great. 🙂

  10. Fritz, I’m reading through this article that you linked from today’s post (10/30/18). I was wondering if you could answer a question for me. Last month, I hit the ripe young age of 40 and feel like I’m in a good financial spot. My Dad gifted me the “wall street journal’s guide lifetime guide to money” when I was 21 and while it’s got areas I disagree with, it got me thinking about money and how to save, etc. My question – in the infographic for 40s, it says “have at least 2x your annual income saved”. Does that mean in your retirement accounts? Actual liquid savings? Overall net worth (I’d argue without any house value)? Your stock/bond investments that are not in retirement accounts? When I look at my retirement accounts, I’ve got well over that, but I want to make sure that’s what you (and many other financial guidance blogs) are talking about here. Thanks for all of your great posts – I’ve really enjoyed following your journey.

    1. Good question, Kate. I don’t think the specific location of your “2X” savings matters as much as the total amount. In our case, I excluded home equity since it wasn’t liquid savings which could be used to fund our retirement. All other “spendable” assets count, regardless of their location (retirement vs. after-tax, etc.).

      Thanks for your kind words about my blog, glad you’re enjoying my journey! (So am I, by the way!).

Comments are closed.