Financial Life Stages - Vince Rapisura

Financial Life Stages

Worksheets

? Accomplish Money In, Money Out ? Use estimates if exact figures are not available ? Answer honestly

Active vs. Passive Income

Active

? Income derived from labor or work

? Primary income ? main source of income such as salaries

? Additional income ? income from sideline, over time pay, part time

? Should only be used to fund basic needs

Passive

? Investment income you earn even when you do not work

? Income earned from assets, investments or both

? Usually from rent, dividends, interest, pension, royalties and capital gains

? Use passive income only to fund periodic wants and further increase investments

83% of SEDPI Training Participants DO NOT

have passive income

Financial Life Stages

Financial Life Stage

Start Up Independence Growth

Stabilization Freedom

Passive

Income Suggested Age

Expenses

0%

21-22

1% to 10%

23-25

11% to 25%

26-35

26% to 50%

36-45

51% to 75%

46-55

76% to 99%

56 - 65

> 100%

>65

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