But this same amount of emphasis on health and looks should also be applied to finances, starting in your 20s, so by the time the wrinkles of life start appearing – job loss, health issues, college expenses, or a disaster or early retirement – your nest egg won’t show the wear and tear.

Donna Jordan, Pensacola Certified Financial Planner and recognized nationally by financial publications, offers some suggestions to protect yourself and your nest egg.

"Although no two people have identical circumstances, most of us are able to recognize certain financial "stages" in our lives,” she said. “At each stage there are different financial needs and different strategies to meet those needs.”

In your 20s

1. Generally, your education and job training will be your primary investments during these years. You will be establishing a career, and possibly a family. But this is also the time to establish the foundation of your financial future.

You should start with a basic financial plan and a budget by balancing your spending and savings within the boundaries of your income level. Expensive debt (such as credit cards) should be reduced or eliminated.

2. Establish reasonable savings goals. These should include establishing an emergency reserve (equal to three-to-six-months’ living expenses) as well as starting to save for retirement. While retirement may seem far in the distance, it is important to start saving early. Each dollar saved in your 20s can be worth ten times as much as a dollar saved in your 40’s.

3. Make sure to take advantage of company-sponsored retirement plans. Save a little bit with every paycheck. Your goal should be to contribute enough to capture all of the available employer’s matching contributions. Beyond that, if you have additional dollars that can be saved for retirement you should contribute to a Roth ($4,000 per year), so long as you meet the income eligibility requirements. Be sure to utilize any other employee benefits available to you. Health, life and disability insurance are generally more affordable when purchased as a part of your employment group.

4. Be sure to have at least a basic estate plan to include a will and written medical directives. The investments you select for within your retirement plan or IRA should be growth-oriented and include both domestic and non-domestic stocks and bonds. All investments carry a risk of one type or another, so you must think through your own tolerance for various types of risk.

5. Educate yourself. Learn the basics, but seek professional help as needed with your investments, taxes and accounting.

In your 30s and 40s

1. These are generally the prime spending years. Mortgage payments, child care expenses, and other living expenses may seem overwhelming. By now, you should begin to identify a specific retirement goal; that is, when you hope to retire; how much you will need to live on in retirement; and what amount of savings and rate of return on your investments will be necessary for you to achieve your goal.

2. You should continue to increase your short-term and long-term savings. Each time you receive a raise, a portion of it should be allocated to savings. When changing jobs, you should never cash out your 401k. It should be rolled over into your new company’s plan or into an IRA. When saving for college, you may wish to consider Section 529 plans for extra tax advantages.

3. It is also important to be sure that you have in place a secure risk management safety net in the form of proper insurance that will protect you and your family from loss of life; loss of income due to illness or injury; property loss due to catastrophe or liability; and expenses for healthcare.

4. Your estate plan must be kept current. For example, make sure that beneficiary designations on retirement plans, IRAs, annuities and life insurance policies are kept current, and that any family changes such as divorce, death or births are reflected in your plans.

5. Investments should continue to be growth-oriented, and as your investment portfolio grows, you will be able to add additional diversification to your holdings.

In your 50s and 60s

1. With middle age comes a shift in your financial focus from spending to saving. As you approach retirement, each financial decision you make grows in importance.

2. Generally by this time, children are grown and supporting themselves. Most people find themselves in their highest earning years. This allows budgets and financial plans to be modified to allocate maximum flow to retirement savings.

Now is also the time to determine if you are on course to achieve your retirement goal or if you will fall short.

3. This is also the time to review your estate plan for tax efficiency and for potential gifting or charitable intent. You should also consider the purchase of long term care insurance, when appropriate.

4. Although growth is still important, investment allocations should be modified to reflect a more conservative allocation, as you start to acquire investments that will provide income in retirement.

Retirement

1. Retirement brings its own set of financial decisions. Securing a stable income will become your main objective. Primary sources of income are now Social Security; employer-sponsored retirement plans; income from personal savings; distributions from IRAs, and wages from part time employment. Your plan will now focus on how to structure your distributions from retirement plans and other investments to maximize return and minimize taxes.

2. Your budget should be modified to reflect any lifestyle changes including increased travel; a relocation to down-size or move closer to family; elimination of mortgage debt, etc.

3. Your investment portfolio should now be structured to maximize income. This can be done through the careful selection of income producing securities such as annuities, bonds, certificates of deposit, investment trusts and dividend paying stocks.

4. All insurance policies and estate planning vehicles should be reviewed and modified, as needed.

5. It is never too late or too early to start to plan your financial future.