Two Rules | Rule #1 Do Not Lose Your Principal | Rule #2 See Rule #1

J. Michael Stolp

J. Michael Stolp is Managing Member of CFO Solutions LLC, founded by Michael in 1991. CFO is a registered investment advisory and boutique financial planning firm with corporate offices in Scottsdale, Arizona. He is based and resides in Scottsdale. CFO specializes in the unique planning needs of doctors, other professionals, and small business owners, and the economic issues facing them.

CFO Focus: I Can’t Save Now Because . . .

An advisor friend recently shared the following list with me. It dates back to circa 1945.

I can’t save now because:
Age 20 — I am too young and still in college.
Age 25 — I can’t save now because we just got married.
Age 30 — I can’t save now because we just bought a home.
Age 35 — I can’t save now because we just had another child.
Age 40-50 — I can’t save now, we have the kids in college.
Age 55 — I can’t save now, I have just gotten a new job.
Age 60 — I can’t save now, I am too close to retirement.
Age 65 — I can’t save now, I only receive $9.00 per week from Social Security.

It seems some things never really change.