How to Build a Financial Plan By Age
5/8/202640 min
How should your financial plan evolve as you age? The Financial Order of Operations shows you what to do with your next dollar, but life insurance, estate planning, and tax strategy require a deeper framework. Financial Advisors, Brian Preston and Bo Hanson, walk through the six core areas of financial planning and reveal what to prioritize in your 20s, 30s, 40s, 50s, and beyond to build lasting wealth in 2026. This episode covers estate planning, budgeting, tax planning, and risk management across every decade of your wealth-building journey. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices
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First 90 secondsBrian Preston· Host0:01
The financial order of operations shows you what to do with your next dollar, but what do you do about things like life insurance, deeper tax strategy, and even estate planning?
Bo Hanson· Host0:10
And, Brian, I am so excited because today we're gonna walk through how to build a financial plan, including the specific areas that you should focus on based on your age.
Brian Preston· Host0:20
So I'm Brian, he's Bo, and we're financial advisors here to fill in the missing gaps in your wealth-building plan. And with that, let's dive right in.
Bo Hanson· Host0:28
[gentle music] So, Brian, when it comes to financial planning, there are really sort of six areas that we're taught about when you're studying for the CFP or coming into the industry. And generally speaking, those areas are financial ma- management, which is, like, budgeting and cash flow, estate planning, retirement planning, investment planning, tax planning, and risk management. But what's interesting is even though these six areas sort of permeate a well-rounded, well-thought-out financial plan, what you wanna focus on at each stage and in each decade varies based on where you are in your financial journey. So that's exactly what we'll walk through today. Based on where you are, what age you are, what should you be focusing on if you're going to build your very own financial plan?
Brian Preston· Host1:17
So we're wild and crazy enough financial advisors that we decided let's go ahead and look at each decade. With that, let's get into the 20s. So when we're talking about building a base, one of the biggest things you can do for you is the, the shovel