A Financial Life Path is a series of financial stages that anyone can be in at any point in his or her life. These stages or paths are cyclical, ever changing, and are not always in your control. Your financial life path can be planned by setting financial goals or milestones to help foster the growth of your finances. In some cases, life’s twists and unexpected turns can force you onto a less favorable path. The unexpected will occur and impact your financial path. However, having a financial plan in place before the occurrences will help you get back on your desired financial life path, sooner rather than later. This positive action keeps you on the path toward financial freedom.
The Nehemiah Community Foundation is dedicated to helping everyday Americans build wealth and achieve financial freedom by providing sound, objective, and easy-to-follow tips and information centered around the most common financial life paths that the majority of people experience in their lifetime. We encourage you to explore each of the life paths, figure out where you are today, decide where you want to be, and let us help you develop a roadmap for achieving your financial goals.
Financial Challenges
These twists and turns can result in personal injury or illness resulting in disability, job loss, filing for bankruptcy, or the death of a loved one. So, how does one prepare for one of life’s unexpected challenges? Consider these tips.
Saving for College
There are many college savings programs and options available. Here are a few for you to consider.
Buying a Car
Buying a car can be a dream come true, or your worst nightmare. Avoid the “rocky ride” by doing your homework and getting your finances in order. Want to know how?
Starting a New Job
Explore how you can better prepare for financial emergencies, preserve retirement assets, and minimize your tax burdens. These financial tips help you prepare for a transition into a new job.
Marriage
Marriage is a big adjustment and the challenges of marriage and money are complex. Discover eleven financial investments you can make in your marriage that will yield greater peace and prosperity.
Owning a Home
Your home is where you and your family spend a lot of time, so keeping it healthy, well tended, and safe is important. Here are some helpful tips on how to perform general maintenance, make your home energy efficient, and more.
Parenting
Having a baby or adopting a child immediately increases your annual expenses. Financial stability makes the process of childrearing less stressful. When deciding to start a family, consider the following tips so you can plan accordingly.
Elder Care
Elder care is one of the biggest financial responsibilities faced by Americans born between 1950s and 1970s. It is financially challenging for the rich, poor, and everyone in between. Here are some tips for you to consider.
Retirement
The average working household will have only 63% of the income needed to comfortably retire. If you think you fall in this category, we have six steps for you to consider to help you prepare for retirement.
