A guide for every stage of life
Do you need a wealth advisor? We can all use sound financial advice, but we don’t all need a professional to manage our resources. That’s why I put together a Financial Freedom Roadmap to help you have a clear path forward—one rooted in wisdom, discipline, and peace—no matter where you are in life.
The Financial Freedom Roadmap is built on four stages. They are not necessarily linear, and you may be in more than one stage at a time. Also, the strategies for each are not exclusive. With that in mind, let’s look at each stage, what you should do, and what you should expect.
Stage 1: Foundation—Steady Hands, Steady Growth
The plans of the diligent lead to profit… (Proverbs 21:5, NIV)
This is the period when you are young and just getting started. Here’s what you should do:
- Set up automatic contributions to your retirement accounts (401k, IRA, Roth IRA, etc.)
- When the markets dip, increase your contributions (don’t panic, double down)
- Build an emergency fund that will cover three to six months of expenses
- Eliminate your bad debt (credit cards, personal loans, any debt on depreciating assets)
During this time, expect market turbulence. When the market dips, consider buying—it’s like getting stocks on sale. Stay calm, stay invested, stay consistent. Your net worth will grow slowly at first, but it will grow.
Stage 2: Momentum—Building Wealth with Purpose
Commit your actions to the Lord, and your plans will succeed. (Proverbs 16:3, NLT)
As you become more established, you’ll want to adjust your financial management strategies.
- Contribute as much as you can to your retirement accounts (if you can max out your annual contributions, great!)
- Be sure you are getting all matching retirement account contributions you might be eligible for
- Open a taxable brokerage account for additional investing
- Track your net worth quarterly (make this your new scoreboard instead of looking at individual financial components)
- If you are not giving regularly, begin now, even if it’s small amounts
- Consider protecting your family with life insurance and start estate planning to give your loved ones peace of mind
As your compound growth begins to accelerate, you’ll start seeing real fruit from your financial discipline. Your confidence will grow along with your net worth.
Stage 3: Complexity—Preparing for Higher-level Planning
From everyone to whom much has been given, much will be required … (Luke 12:48, NRSVUE)
As your financial savvy and net worth increase, you can accelerate and expand.
- Purchase property (home or investment)
- Start or expand your business (if applicable)
- Unite with your spouse and family in financial conversations, and talk openly about money
- Begin tax planning and consider creative ways to minimize your growing tax burden
- Consult with a wealth advisor for comprehensive planning
In this stage, your finances will become more complex—and that’s a good thing because it means you are building solid, sustainable wealth. You’ll need more tailored advice and a multi-dimensional approach. This is the season when full-service financial planning becomes essential.
Stage 4: Stewardship—The Fruit of Faithful Planning
Well done, good and faithful servant … (Matthew 25:21, NKJV)
This is the stage where years of wise choices bear fruit. You now have the ability to enjoy your wealth, give generously, and plan confidently for the generations to come. This is the time for:
- Developing a big-picture tax and legacy strategy
- Real estate and business coordination
- Charitable and generational wealth transfer planning
When you reach this stage, your financial life is simplified, integrated and working in harmony with your calling and values. A qualified wealth advisor can help you manage and maintain your resources while you focus on living the life you were called to live.
