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Each era of adulthood requires a different approach to investing. For example, financial planning that works for adults in their 50s won’t work as well for 30-year-olds. Young people in their 20s are a completely different era than 50-year-olds or even 30-year-olds. People in their 20s are normally beginning the pathway to their financial foothold. The three tenets of financial freedom that they should be focusing on are : finding a lucrative job, maintaining a budget and saving money.

Joseph Conroy, a Certified Financial Planner at Synergy Financial Group and author of the financial planning book: Decades & Decisions joins Enterprise Radio.

“Retirement can be very similar to a sugar rush,” says Joseph Conroy of the Synergy Financial Group in Towson, Maryland. “In the beginning people are very excited and there is a sense of euphoria. Then, after just a few months, there is this crash where people start to settle into their new routines. This can be a volatile time in one’s life because people are left to figure out what it is that brings them happiness. It seems like an easy problem to solve, but there are many layers to it.”

While branches of banks and credit unions look the same from the outside, there are some fundamental differences.

Participants sometimes also complain if they are not offered mobile applications to access their accounts, says Joseph Conroy, a financial planner with Synergy Financial Group in Towson, Maryland. “Complaints about technology absolutely have merit,” he says. “Today’s participants want to enroll, access and rebalance their accounts from their smartphones. While they are willing to use paperwork and desktop computers to do those things for now—in a few years, they won’t”

If you haven’t refinanced your older mortgage in the past few years, now is the time. “Interest rates are on their way up,” says Joseph Conroy, author of Decades & Decisions: Financial Planning at Any Age. “Shop your current mortgage rate around before the opportunity is gone.” Yes, the time and paperwork involved is a hassle, but your mortgage is a 15 or 30-year loan and a lower rate could save you thousands during that time period.

Whether you are a recent graduate, new homeowner, or ready to retire, financial planning is essential. For this morning’s Maryland Business Report, Author Joseph Conroy, joins us to discuss financial planning for any age.