As you shift gears through life's stages, your goals, priorities and responsibilities can change dramatically. It's only natural that your financial situation will also undergo major changes along the way. Therefore, it's important to continually evaluate your financial status at the various stages of your life and choose an investment strategy that will complement it.

First Gear
In your 20s and 30s, you're typically beginning to accept financial responsibilities of your own, and saving and investing may seem difficult. At this stage, your priorities may center around building a career, buying a home and starting a family -- possibly while repaying student loans or other debts. Expenses at this point in your life might equal, or even exceed, income -- and it may not seem feasible to invest. However, keep in mind that in "the early years," how much money is saved isn't nearly as important as simply getting into the habit of saving. Over time, the power of compounding can give your money greater growth potential. To find out how much you can save, use our Investment Calculator to find out how much you can compound over time. You have time on your side -- which means you can take advantage of a longer time horizon and a greater risk tolerance level while investing to meet long-term goals, such as your children's college education or your own retirement.

Second Gear
During your 40s and 50s, you may be trying to focus your efforts on saving and investing, in order to cover family bills and build your retirement nest egg. Our Retirement Calculator can help you determine how much you'll need to live comfortably in retirement. Your income will typically rise during this period of your life, as will the number of investment options available to you. At this point, tax-advantaged investment vehicles, such as Individual Retirement Accounts (IRAs), municipal bonds and annuities, may be suitable for you, particularly if you find yourself moving into a higher tax bracket.

Third Gear
When your retirement years are right around the bend, it's wise to take the time to Calculate Your Net Worth and restructure your portfolio. At this stage, protecting your accumulated assets may become increasingly important. Consider gradually shifting more of your assets to investments which are relatively safe and produce income. A portion of your portfolio, however, should remain in growth-oriented investments in order to help offset inflation.

Cruise Control
By conducting periodic checkups of your portfolio at each "mile marker," you can monitor your financial progress and gain a sense of your future direction. Although you may not be able to predict every dip and curve in the financial highway ahead of you, careful planning and the use of a lifetime investing strategy may put you in a better position to meet the changes you'll encounter along the way.