Stages Of Wealth Building

Fewer expenses after children leave the nest along with homes gaining equity make prime wealth-building opportunities more attainable. This is the ideal time in your life to put your income toward your retirement account and other business investments, such as a vacation home you plan to rent out. As we approach retirement age, many of us might dip into our retirement funds and other sources of income such as Social Security. But reaching a certain age doesn't always mean your wealth-building days are over. Some people may even decide traditional leisure-based retirement isn't for them. Many older adults continue working into their 70s . And with a pension and health benefits, some may even begin an entrepreneurial venture that was too risky earlier in life. Volunteer work, part-time jobs and even internships can enable you to explore a different field that you've always wanted to pursue, so don't close yourself off to these possibilities. Wherever you are in your stage of life, there are steps you can take to secure your financial future.