Money / Financial Planning
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Throughout the holiday season and into the new year, GOBankingRates talked to financial experts from all backgrounds and industries about what people can do to save more, spend less, invest more strategically and finally achieve good financial health.
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Also See: 25 Ways To Save 20% More of Your Paycheck Without Even Trying
In other words, advice on how to live a richer life — but there are different kinds of riches.
Many of those money experts spoke less about things like credit card payments and interest rates and more about living a life that’s rich in relationships, fulfillment and purpose. Material wealth, many of them believe, is hard to obtain and almost impossible to enjoy if you don’t have the kind of riches that can’t be counted in dollars and cents.
Here’s what they said about doing well and feeling good in 2022.
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What Should You Do To Enrich Your Life? Well, That Depends on Your Age
Janet Patterson, a loan and finance expert with Highway Title Loans, suggests pursuing goals and resolutions that evolve with your priorities as you get older. She gave the following examples:
- 20s: “Picking up a new sport and focusing on career development, which includes applying to different companies to gain interview experience.”
- 30s: “Investing in a stock exchange or real estate may be the best option to develop an asset for later years in life. It can also come in handy in buying a home.”
- 40s: “Start interacting with friends and family on an emotional level and let go of any long-held grudges.”
- 50s: “Increase the use of sunscreen as skin cancer is on the rise against people who are within the 40-50 age group.”
- 60s: “Writing down stories and memories more often. Being more grateful and adopting a healthy outlook on life in general. Spending more time with children or grandchildren and getting routine checkups.”
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Ask Yourself Different Questions at Different Life Stages
Greg Wilson, a chartered financial analyst and co-founder of ChaChingQueen.com, also offers advice for living well that varies with the different stages of life.
“If you are in your 20s, understand the time value of money,” Wilson said. “Max out your 401k. Future you will thank you. If you are in your 30s, determine what is important …….