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How does financial planning change as you grow older?

How does financial planning change as you grow older?

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Answer #1

At the beginning of the career people invest in risk portfolio with high risk and high returns. Risk appetite of younger people are relatively high. Hence they seldom invest in low return low risk portfolio.
The mid age people invest in mix of portfolio with different risks. They invest in stocks, mutual funds and they allocate some amount to buy house through loans. At this age some people start retirement planning where fixed income ow risk securities are preferred.
The old age group are solely focussed on riskless investment, investment in pension funds. Their risk appetite is minimum of all age groups.

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