There are two main phases of your personal finance life cycle - Accumulation and Distribution. The experts at Finley Alexander Wealth Management are here to help break these down.
Accumulation: During our working lives, we're aiming to increase our circle of wealth. The accumulation phase serves to build your assets, both in savings and investments, to a point where you feel comfortable becoming work optional. This could be a goal of saving for retirement or otherwise not dependent on working to live.
Distribution: During the distribution phase, it's important to continue to seek growth. Use the capital you've gained during the accumulation phase to live while still maintaining or even increasing your revenue streams to keep up with inflation, cuts to Social Security, and other uncontrollable factors.
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