Life Stages

Learn more about an individual's life cycle below.

Life Stages

Birth Table
Birth & Education YearsEarning YearsRetirement Years
22 Years 43 Years 20+ Years
Learner Table

Learner (Childhood/Going to School Stage)

Financial Products
  • The goal is to achieve and protect funding for a child's education and to insure that they enter a career path with limited debt for education. Life insurance on parents can ensure the funding of education in their absence.
  • Financing Education can leave a young adult in a large hole from which they must climb throughout their earning years.
Earner Table

Earner (Out of School & New in the Workplace Stage)

Financial Products
  • Young, healthy, carefree. Easy access to money.
  • "Its not what you make that counts, it's what you keep".
  • There is a need for savings plans for emergency funds, for autos and eventually for a home.
  • Need to protect the new found status and earning capacity. (Disability Insurance)
  • Manage outstanding loans, credit cards, and other debts.
  • Starting savings plans or life insurance funding early in life builds very significant benefits of compound interest.
Partner Table

Partner (Young Married Stage)

Financial Products
  • Need for life insurance and disability insurance on wage earner(s).
  • Need emergency funds in savings.
  • Begin saving for children's educations.
Parent Table

Parent (Married with Young Children Stage)

Financial Products
  • Growing cash demands for rents, school fees, & vacations.
  • Dependents are growing.
  • If in private business, risk and growth comes from investing in own business. Local banks are the best source for small business loans.
  • Home buying is priority. Thayer County Bank offers competitive home loan products.
  • Investing in children's savings (Savings Accounts; IRA's, Time CDs or other non-bank investments such as life insurance, college savings plans, or stocks and bonds).
  • Need to continue building retirement funds
Provider Table

Provider (Married with Older Children Stage)

Financial Products
  • Moving from employee to entrepreneur.
  • Making commitments, acquiring assets, incurring debts to fulfill dreams.
  • Higher education of children approaching.
  • Saving for Children's weddings, expenses leaving home.
Provider Table

Provider (Married with Older Children Stage)

Financial Products
  • Moving from employee to entrepreneur.
  • Making commitments, acquiring assets, incurring debts to fulfill dreams.
  • Higher education of children approaching.
  • Saving for Children's weddings, expenses leaving home.
Empty-Nester Table

Empty-Nester (Post-Family / Pre-Retirement Stage)

Financial Products
  • Retirement countdown begins.
  • Needs are to insure health care and ensure additional income during retirement.
  • Children are independent, home loans are repaid and other loans eliminated with investments reaching their peak.
  • Divert surpluses to build retirement while reducing investment risk.
  • Save as much as possible during these years.
Retirement Table

Retirement (Enjoyer Stage)

Financial Products
  • Security and comfort are top priority.
  • Some look forward to retirement and some dread retirement.
  • Obstacles that prevent people from planning for their retirement are:
    • Lack of self discipline to save sufficiently during earning years.
    • Investment and reinvestment is a formidable challenge to most.
    • Few people possess expertise to provide constant liquidity that outlasts one's life.
  • Health expenses replace work-related expenses.
  • Creating cash flows and beating inflation are top priority.
  • Create adequate cash flow from safe investments and investing in instruments that beat inflation are required to prevent an erosion of retirement capital.

Events

Friday, August 7th and Saturday, August 8th - Hebron Wide Sidewalk and Garage Sales

News

Effective 7/1/2020, we are increasing the amount we make available for withdrawal by checks not subject to next day availability to $225. In addition, the amount available for withdrawal on exception holds for large deposits and new accounts holds is increasing to $5,525.

Just a reminder from your local community bank to protect yourself from fraud and scams.

Thayer County Bank will not call or email you for personal information (e.g., account number, social security number or mother's maiden name).

Please notify us immediately if you receive an unusual call or email claiming to be from Thayer County Bank.

Pat Kenner's 60th Brithday Celebration. Click Here

Mary Rauner's Retirement Celebration. Click Here

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