Times and Seasons

Times and Seasons

We have four seasons which come and go - spring, summer, autumn and winter. Within these seasons are specific timing; time that ticks away without waiting for anyone. Our life here on planet earth too is in season. It’s important that we have a plan for every life season, ensuring the snapshot of our finances is on point.

There’s a season when we are young and a season when we are old. A season when we can run with much energy and vigour, a season when we are feeble and old. Season to plant, season to harvest. Season to earn, season to spend. Season of sacrifice to save and invest, season to enjoy the wealth that had been built. Season to work and hustle, season to retire and rest. There is a season and a time for everything.

I liken spring as the season of our youth; a time of personal growth. My advice for this season is to keep debt under wrap. Little or no consumer debt is wise during this time.

The summer season is between our 30s and 50s. This is the period when the foundations of financial health later in life are set. Getting rid of consumer debt, saving and investing is prudent in this season.

The autumn season is between our 50s and 70s. If your spring is well planned financially, then autumn will be the most fruitful time in terms of financial health. You start winding down to hang the boot of working hard; you start getting ready to retire.

And then comes winter, this is age 70 and above. A season of lower income, mainly from a pension. A time of higher expenses, mainly on medical bills and care. Plan for your winter season, and ensure you are not your children's liability!

In which season are you in your life?

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Categories: Financial Planning
Oyenike Adetoye

About Nike

Oyenike Adetoye (aka Nike) is an impactful speaker, author and personal finance expert. A Chartered Management Accountant by profession. Nike is the founder and CEO of LifTED Finance, a private financial firm that educates, coaches and supports people on their journey through financial fitness and wealth management.