In celebration of CFP Board's 25 years, CFP Board's Consumer Advocate, Eleanor Blayney, CFP® will be rolling out a series of 25 relevant and timely tips and strategies for the five key milestone phases in a person's life. Presented in a multimedia format, a group of tips will be released each month from August to December 2010.

The five stages that will be covered include:

Stage 1 – The Starting Out Years
Age range: 18-25 These are critical years, where your choices about education, employment, and debt management can have a major impact on your financial situation for decades to come.

Stage 2 - The Nesting Years (September 13)
Age range: 25-40 During this phase, you face important decisions about marriage, children, buying a home, and building a career. Understanding the financial implications of these decisions is critical to lifetime success.

Stage 3 – The Wealth Accumulation Years (October 11)
Age range: 40–55 This is usually the time you find yourself with more discretionary income. But there be may a lot of demands on that income. Advice is needed about college tuitions, helping elderly parents, catching up on retirement savings.

Stage 4 – The Prime Time Years (November 8)
Age range: 55-65 Retirement is coming into view: will it be a time of reinvention or a period of just getting by? Choices about lifestyle, spending, investing can make all the difference.

Stage 5 – The Reinvention Years (December 13)
Age range: 65 and over These can be the best years of life: new interests, part-time work or volunteer activity, travel, more time with family and friends. It all depends on good management of your financial resources.

"Financial planning isn't just for the wealthy. It's for everyone," Blayney says. "In a world where people are more responsible than ever for their financial lives, it's important that people understand the key things they need to do in each phase of their life."

The Life Stages Series

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A Word from CFP Board's Consumer Advocate

With the aftershocks of the global financial crisis still clear in our memory, and with little guarantee that relief is in sight, there's no shortage of dismal news or cookie-cutter advice. American consumers are on an emotional rollercoaster – frightened and more susceptible than ever to inaccurate and misleading financial advice.

More than ever, it's important for all Americans to take an active role in planning for the future they want. Managing your financial resources is an important part of any plan. Unfortunately, thousands of Americans are making ill-informed financial decisions they may come to regret, thinking that doing anything is better than doing nothing. What people need right now is access to a professional financial planner whom they can trust to act in their best interest – someone who is qualified by education, experience, and held to enforceable ethical standards.

As CFP Board's Consumer Advocate and someone who has helped hundreds in similar situations, I am here to assure you you're not alone and to give you the critical steps you can take right now to deal with your current financial situations and secure a healthier financial future. The resources below will help you identify the financial planning assistance to meet your needs and help you locate a qualified and ethical financial planner whom you can build a trusted, long-term relationship. You don't have to go it alone!

Eleanor Blayney, CFP®
consumeradvocate@CFPBoard.org

Learn more about Eleanor >

Ladies, Start Your Engines: Time to Stop Playing it Safe in the Workplace

Attention men: if you want to meet women, go to work. For the first time in our labor history, women will soon outnumber men in the workplace. Two factors are responsible for this landmark statistic: not only are more and more women choosing to work, even while having and raising children, but once in the workplace, fewer women are getting laid off than their male counterparts. According to the latest Bureau of Labor statistics, 10.3 percent of adult men are now unemployed, compared to 7.8 percent women.

Are glass ceilings being shattered here? Probably not. The reason for women's stronger hold on jobs is not because their economic contribution is finally being fairly and fully valued. Rather these new statistics reflect the kinds of positions women typically choose: "safe" jobs in sectors that have not been as hard hit by the current recession.
Read more >

Other Messages from Eleanor:

• Teach a Child, Reach the Nation: Why Financial Literacy Matters
• Notes from Detroit: Courage and Optimism from the Nation's Heartland
• Consumers Gain Confidence But Not Trust
• Credit CARD ACT of 2009 Could Spell trouble for Consumers
• Dad's Big Role in Teaching Financial Responsibility
• Self-Control is Better than Government Control

What You Should Know About Financial Planning

Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you pay off your mortgage faster or it might delay your retirement significantly. By viewing each financial decision as part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and feel more secure that your goals are on track. Read more >

10 Questions to Ask When Choosing a Financial Planner

You want to select a competent, qualified financial planner with whom you feel comfortable, one whose business style suits your financial planning needs. A successful relationship with a financial planner starts with these 10 questions:

1. What experience do you have?
2. What are your qualifications?
3. What services do you offer?
4. What is your approach to financial planning?
5. Will you be the only person working with me?
6. How will I pay for your services?
7. How much do you typically charge?
8. Could anyone besides me benefit from your recommendations?
9. Have you ever been publicly disciplined for any unlawful or unethical actions in your professional career?
10. Can I have it in writing?

Why You Should Choose a CFP® Practitioner

CFP®, CERTIFIED FINANCIAL PLANNER™ and are certification marks owned by Certified Financial Planner Board of Standards Inc. (CFP Board), which can help you identify financial planners who are committed to competent and ethical behavior when providing financial planning. Individuals certified by CFP Board have taken the extra step to demonstrate their professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience and ethical requirements. These standards are called "the four Es," and they are four important reasons why the financial planning practitioner you select should display the CFP® certification marks. Read more >

Your Rights as a Financial Planning Client

If you've decided to work with a financial planner, it's important to understand your rights in this professional relationship. A competent, ethical planner will seek to understand and meet your needs and will explain the reasons behind his or her decisions and actions. You can take an active role in shaping your financial future when you know your rights and what to expect from your financial planner. This checklist will help you determine your level of comfort with your existing financial planning relationship.

About CFP Board

The mission of Certified Financial Planner Board of Standards, Inc. (CFP Board) is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® certificants and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 60,000 individuals to use these marks in the United States.