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Every decade of life brings unique milestones and challenges. You’ll spend your twenties jumpstarting a rewarding career. As your thirties roll by, you might settle down to start your own family. And much later, retirement will loom larger and larger on the horizon.
It’s on you to create a personal financial plan to see you through each decade’s different needs and goals. With the proper planning—and the assistance of a few AIA Philippines insurance products—you’ll ensure smooth sailing from your twenties to your golden years.
Check out this financial roadmap example below, and plan accordingly.
Your 20s: Protect Yourself Early
Say goodbye to school and say hello to adulting! Your twenties is a period rife with both opportunities and challenges. As you start building your career, and making your way up the corporate ladder, you don’t fully know yet what the future has in store for you. Consider the AIA All-In-One as your “starter pack” to better secure and protect your future.
Why is it a “starter pack”, you ask? Because it’s a comprehensive insurance plan that protects you against the four major risks in life: untimely death, accidents, disability, and critical illnesses. With AIA All-In-One, you can pursue your dreams worry-free as you are fully protected when the need arises because your benefits are not affected by market risks.
This is also an excellent time to start something small that has high growth potential as the years pass—consider AIA Future Builder, which invests a portion of your premium in expertly-managed funds that grow your money in the long term.
AIA Future Builder is also powered by AIA Vitality, a total wellness program that rewards you for being healthy – a perfect supplement for your adulting needs with its practical rewards such as airline and hotel discounts, mobile credits, gym membership discounts, and a lot more.
Your Early 30s: Raising Future Scholars
Your third decade will be a period of great adjustment, as your priorities will change the moment you expect your first child. Your budget for dinners out and staycations will now shift to accommodate vaccines, diapers, childcare, weekly groceries, and tuition fees.
Even with your kid still in diapers, it’s not too early to think about their college prospects—and how you can prepare even at this early stage. Consider an education-centered investment and life insurance plan like Future Scholar, which offers guaranteed education benefits and long-term growth potential at a surprisingly affordable minimum premium.
Life insurance coverage is also part of Future Scholar—protecting your kids’ educational support even if something should happen to you.
Your 30s to 40s: Growing a Family
When it comes to your family, you want to give them the best of everything. But providing for their needs shouldn’t come at the cost of your health.
You can ensure the future of yourself and your growing family with AIA Critical Protect 100. This life insurance plan protects you against 100 critical illnesses, starting from age 0 to 100. An additional rider improves your coverage when diagnosed with gender-specific cancer, such as prostate cancer or ovarian cancer. And the plan will see you through to recovery, with an option to receive yearly recovery benefits.
You’ll also find their premiums pleasantly affordable, assuming you purchase AIA Critical Protect 100 while under 40 years of age.
Your 40s and 50s: Growing Your Wealth and Enjoying Retirement
During your fourth and fifth decade, you will see your family continue to grow and hit important milestones. One day you’ll be watching them graduate, the next you’ll be helping to welcome your first grandchild into the world. Through all of this, you want to keep growing your wealth so that you can continue to enjoy the life you deserve.
Keep a watchful eye on your money goals, and then identify different strategies to earn, save, and keep your money. However, remember that great fortunes aren’t built on monthly pay checks alone. You should create your own opportunities; you can either start your own business or begin investing in stocks.
Consider AIA Philippines’ Future Builder to grow your hard-earned savings. It is a unit-linked savings plan that gives you the benefit of both an investment fund and a life insurance coverage.
Your 50s are also the ideal time to set your retirement goals. AIA Philippines’ Future Protect not only can grow your money better than bank deposits through expertly managed funds, but also gives our cash pay-outs for when you retire.
Your 60s: Preparing a Legacy
Some envision spending their retirement years pursuing their dream business or profession; others dream of traveling and seeing the world. But none of these will matter if you haven’t prepared a legacy for the loved ones you leave behind, or protected them financially so you won’t be a burden to your family as you age.
If you’ve followed the roadmap we’ve set here, your continuing legacy and protection will be set for keeps. Good job!
Making and keeping a personal financial roadmap will help you look ahead, and prepare for your needs for every decade of your life. AIA Philippines, through our array of life insurance and savings products, will be there every step of the way to help you and your family achieve your goals—from now until well into your golden years.
