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The Wealth Accumulation Years: Plan for the Years Ahead

Nov 08, 2010

CFP Board Presents Fourth Phase of “Lifelong Financial Strategies: 25 Tips over 25 Weeks”

WASHINGTON, DC, November 8, 2010 – When you are in your wealth accumulation years, time seems to accelerate. Birthdays roll around more quickly, and that little red sports car you have dreamed about seems almost irresistible. Well, it can be possible, but you must have a sound financial plan. That’s the message from Eleanor Blayney, CFP®, the consumer advocate for Certified Financial Planner Board of Standards, Inc.

If you are between the ages of 55 and 65, retirement is no longer a hypothetical time of life for “other” people: it now faces you squarely, asking persistent, nagging questions such as: Have you saved enough? How will you replace your employment income? Where are you going to live? People in this phase have likely financed their children’s education, and all those years of hard work can pay off – with that little red sports car.

“The Wealth Accumulation Years” years is the fourth segment of CFP Board’s Lifelong Financial Strategies initiative, part of the non-profit’s ongoing 25th anniversary commemoration.

“With income and experience come the need for proper planning – and subsequent rewards,” Blayney said. “This life stage is about proper retirement planning – using basic tax strategies, mortgage planning, and insurance plans to ensure your retirement is as successful as it should be.”

Tips for this life phase cover such topics as:

  • Focus on what you can control
  • Take advantage of creative tax planning
  • Pay off your mortgage
  • Get high deductible health insurance policy and set up and health savings account
  • Know when to hold – and when to fold

 

The content is being delivered over multiple platforms. Blayney introduces these life-cycle concepts in videos, provides instruction with an audio podcast, and provides detailed advice in tip sheets. Presentations for each phase can be found on CFP Board’s web site at www.CFP.net and the consumer advocate page on Facebook. Videos will be available on YouTube and other social media websites.

ABOUT CFP BOARD: The mission of Certified Financial Planner Board of Standards, Inc. 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 61,000 individuals to use these marks in the United States.

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CONTACT:
Dan Drummond, Director of Public Relations
P: 202-379-2252
M: 202-550-4372
E: ddrummond@CFPBoard.org
Twitter: @CFPBoardmedia

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Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call himself a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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