Mastering Your Financial Lifecycles

By Judith Heft and Liz Levy

If you're like many people, how to manage your personal finances and plan for major life events is a bit of a mystery. How much should you spend in your twenties? How much should you save in your forties? When, exactly, should you start saving for your children's education?

• Language: English
• Publisher: WorldChangers Media
• Release date: May 9, 2022
• ISBN: 9781955811132

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Copyright © 2022 by Judith Heft & Liz Levy

All rights reserved. No part of this book may be reproduced or used in any manner without the prior written permission of the copyright owner, except for the use of brief quotations in a book review. To request permissions, contact the publisher at [e-mail].

Disclaimer: This is a work of nonfiction. Nonetheless, some of the names and identifying character traits of people featured in the stories herein have been changed in order to protect their identities (including stories used with the subject’s full permission). Any resulting resemblance to persons either living or dead is entirely coincidental.

The publisher and the author make no representations or warranties of any kind with respect to this book or its contents, and assume no responsibility for errors, inaccuracies, omissions, or any other inconsistencies herein. The content of this book is for entertainment purposes only and is not intended as a substitute for the advice of a certified financial professional. The use of this book implies your acceptance of this disclaimer.

At the time of publication, the URLs displayed in this book refer to existing websites owned by the author and/or the author’s affiliates. WorldChangers Media is not responsible for, nor should be deemed to endorse or recommend, these websites; nor is it responsible for any website content other than its own, or any content available on the internet not created by WorldChangers Media.

Paperback ISBN: 978-1-955811-12-5

E-book ISBN: 978-1-955811-13-2

LCCN: 2021925174

First paperback edition: January 2022

Front cover author photo by Adam Levy (www.zapshots.com)

Back cover author photo by Alejandra Buljevich (www.callhermagic.com)

Published by WorldChangers Media

PO Box 83, Foster, RI 02825

www.WorldChangers.Media

People Are Saying ...

"Money (and how you handle it) is arguably one or the most important elements to master as it affects just about every area or your life, either positively or negatively. Mastering Your Financial Lifecycles offers insight on how, when, and where to focus on every decade of your financial journey. It meets you where you are now, whether in

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our twenties or in your later years; it is the road map to your financial life, whatever your life stage. Learning how to take care of your money is an act of self-love and this book is a practical education that we all need. It's never too early (or too late) to take full responsibility for your finances. A brilliant resource that belongs on every nightstand or office desk." - Fabienne Fredrickson, author of The Leveraged Business: How You Can Go From Overwhelmed at Six Figures to Seven Figures (and Gain Your Life Back)

As the President and CEO of a bank I can unequivocally say: this guide on how to manage your finances will save your life! In all aspects of one’s life, from opening up a first checking account as a teenager to retiring well in your golden years, this book is necessary. I’ve known Judith for a great many years and believe the work she’s doing is critical. She’s an honest, passionate and good-hearted person and the service she’s providing is something people need, can afford and will benefit enormously from. I’ve been advocating Financial Literacy for years at my own bank, it’s fantastic to finally have a guide to hand out! Thanks for writing this! - Frank J. Gaudio, President & CEO, The First Bank of Greenwich

A must read for anyone going through a financial transition or transitional period of life.  Judy and Liz discuss important concepts and offer crucial advice via a relatable and accessible format. - Peter M. Bryniczka, Esq. Partner, Schoonmaker George Blomberg  Bryniczka & Welsh, P.C.

I love this book! Judy Heft and Liz Levy have taken a subject which can be off-putting and even scary to some, and made it relatable. They write in an approachable way that is easy to understand without being condescending, and the information is organized in a way that makes sense. As a financial advisor, all too often I meet with people who have put their head in the sand about their finances, because trying to understand them feels too overwhelming and the concepts are foreign. This book combines compelling storytelling with nuts-and-bolts information, and it is easy to access the exact information you need for the stage of life you’re in. I especially appreciate the can-do outlook and judgment-free zone they’ve created in this friendly approach to getting you on the right financial footing. - Stacy Francis, CFP®, CDFA®, CES; Savvy Ladies, Founder and Board Chair; Francis Financial, President and CEO; CNBC Financial Advisor Council

A light-reading personal finance book that helps you manage money better at every age. Written in clear, simple English, its content is bolstered by uncomplicated checklists at the end of each chapter. By sharing personal stories and humorously flagging some of their own experiences, the authors offer a great way to improve a reader’s financial literacy. - Lili Vasileff, President of Wealth Protection Management, President of the National Association of Divorce Financial Planners

"Mastering Your Financial Lifecycles offers insight on how, when, and where to begin focusing on every decade of your financial journey. Understanding your finances and knowing what steps to take in every decade of life to ensure that you have a handle on what’s coming in and what is going out is paramount to being financially savvy. In this book you will find these guidelines to follow. Both Liz and Judy put their personal experiences into each chapter which adds a unique touch into the book." - Edward J. Schechter, CPA Berkow, Schechter & Company, LP

As you pass through the decades of your adult life, the number of financial decisions you need to make expands exponentially. Mastering Your Financial Lifecycles provides the valuable checklists you need to take care of your family. - David Edwards, President and Wealth Advisor, Heron Wealth

Financial literacy—little is more important in one’s life. Enhance yours by reading this informative book on financial life cycles. Judy Heft and Liz Levy take you from building your financial foundations, having babies, to your roaring twenties and thirties, to retirement and end of life planning. It’s a much needed book, chock full of great strategies and much wisdom.

- Randy Kaufman, Aker Advisors, LLC

Judy and Liz have created a practical guide for financial management throughout one's lifetime. Money and finances are a difficult topic for many people (and families), and often these strategies are not taught at home or in school. The ‘lifecycle’ structure of the book makes it relevant to anyone going through a transition and in need of practical advice for gaining control of ones finances. Many clients ask me, ‘How do I teach my children about money?’—(sometimes those children are entering the retirement phase of life!)—and I now have a guide to provide them! - Michael T. Clear, Chair Private Client Services, Wiggin & Dana

"Mastering Your Financial Lifecycles is a must-read to get a good grasp on your financial life. This book is invaluable in helping someone start their life as a young adult, or even helping someone get their life on track in their midlife or late adulthood. The checklists at the end of each chapter are very helpful. It reviews items from previous chapters and keeps them on the forefront of your mind. Truly a pivotal book to read to get your financial life back on track." - Jacqueline Newman, Managing Partner

I love how this book is organized. Because each chapter is labeled for a specific stage of life, I was able to jump right to the sections that were relevant for me, and quickly show my relatives what was right for them. Each chapter has subheadings, bullet points, and checklists that make it easy to skim, peruse, and take action! Thank you for this resource that will grow with me over time. - Vikram Rajan  Cofounder, Videosocials

"Mastering Your Financial Lifecycles is a practical and useful financial guide for every stage of your life. Whether you just had your first child, are planning for retirement or are thinking of an estate plan, this book will guide you with easy to remember tips from experienced and caring experts."

- Sandra M. Radna, Esq.

Table of Contents

How to use this book

Preface (Judy)

Preface (Liz)

Chapter 1: So, you're having a baby?

Chapter 2: The Formative Years: Building Your Financial Foundation

Chapter 3: The Teen Years: Goal-Setting & Savings Accounts

Chapter 4: The College Years: Riding the Independence Train

Chapter 5: The Roaring Twenties (and the Settling-Down Thirties)

Chapter 6: First Comes