Investing Through the Ages: A Smarter Approach to Building Wealth Over Time

There’s one thing that never changes when it comes to investing: it’s always evolving. Just like life. Over the past few decades, the investment landscape has transformed in ways that few everyday investors fully realize. What was once a straightforward approach—allocating between stocks and bonds—has now expanded to include new asset classes, global exposure, and diversified strategies once reserved only for large pension funds. According to Dave Makarchuk, Member of Integrated Advisory and Chief Investment Officer at WealthCo, investing has progressed through distinct phases.    The Classic 60/40 Mix of Stocks and Bonds 

• Formed the foundation for most portfolios throughout the 20th century 
• Balanced allocation between stocks and bonds 

Greater Global Diversification 

• Emerged in the early 2000s 
• Expanded portfolio exposure beyond domestic markets 

Inclusion of Alternative Investments 

• Marks the most recent phase in portfolio evolution 
• Includes private equity, infrastructure, real estate, and credit 

 Watch the full “Evolution of Investing” video here: https://integratedadvisory.com/evolution-of-investing  

As we move through the different seasons of adulthood—from early career growth to mid-life responsibilities, and into retirement, our goals shift, our priorities sharpen, and our financial strategies should follow suit. A thoughtful investment plan doesn’t just support the life you have today—it lays the groundwork for the future you want tomorrow. Whether you’re just beginning to build your savings or planning how to draw from your nest egg, here’s how to invest with purpose at every stage.  

Early Career: Build Habits, Not Just Wealth 

At the start of your financial journey, the goal isn’t just about returns—it’s about rhythm. This is the season to lay the foundation of good money habits. Saving a portion of your income regularly—no matter how small—instills discipline. Building an emergency fund and balancing debt repayment with long-term savings creates flexibility and confidence. It’s also the perfect time to get comfortable with market ups and downs. With decades ahead before you’ll need to access your investments, time is on your side. While the traditional 60/40 portfolio once served as the default, today’s more dynamic environment allows for new approaches. Incorporating private investments—assets not traded on public exchanges—can potentially offer greater stability and enhanced returns over the long term. Taking a slightly more growth-oriented approach makes sense in your 20s and 30s, but don’t go it alone. A regular check-in with a financial advisor, especially during tax season, helps ensure your early investments are aligned with your goals and risk tolerance.  

Mid-Life Momentum: Invest with Intent 

In your 40s and 50s, the financial picture becomes more complex. You might be juggling a mortgage, funding your children’s education, expanding your business, or all of the above—while also thinking seriously about retirement. Now is the time to get clear on your five-to-ten-year goals and make sure your investment plan supports them. Liquidity becomes more important—so does having a well-balanced portfolio that considers both growth and stability. According to Makarchuk, institutional investors have been leading the way by diversifying into alternative investments—assets like real estate, private credit, and infrastructure—which tend to be less sensitive to public market swings. These tools can provide added resilience and smoother performance, especially during turbulent periods. This stage is also when you want to start visualizing the retirement lifestyle you want. How much will it cost? When do you hope to step back? Are you prepared for large future expenses that could disrupt your plan? An experienced advisor can help you map these out, ensuring your strategy is flexible and that your investments are working as hard as you are.  

Pre-Retirement: Shift from Growth to Protection 

As retirement approaches—usually in your late 50s to early 60s—investment strategy begins to pivot. While growth is still a factor, capital preservation and tax efficiency take center stage. You’re getting closer to the point where your investments will start generating income. That means understanding how and when to start drawing from accounts, while minimizing tax consequences and avoiding surprises. This is also a time to revisit your portfolio allocation. Are your investments aligned with your current risk profile? Do you have a plan for stable income that doesn’t depend entirely on market performance? If not, it might be time to look into dividend-paying investments, fixed income strategies, or alternative income sources such as private lending and credit investments. These additions can offer more reliable cash flow in uncertain times.  

Retirement: Stay Engaged, Stay Strategic 

Reaching retirement doesn’t mean the end of investment planning—it means entering a new phase of financial management. Now the focus shifts to sustainability and confidence. You want to know your money will last, that your lifestyle is secure, and that your estate is in order. It’s also about knowing when to adjust your drawdown strategy or when to rebalance your portfolio. Staying informed is key—but reacting emotionally to market news or hype from others is one of the biggest risks retirees face. The best approach? Stick to your plan, keep regular check-ins with your financial advisor, and adapt as needed—not out of fear, but based on data and strategy. Makarchuk emphasizes that one of the key benefits of the evolution in investing is broader access to strategies that were once limited to institutions. These tools can help retirees build more resilient, sustainable income streams over time.  

Key Mindset Shifts to Make at Every Age 

• Adjust your risk, not your discipline. You can reduce volatility without giving up on long-term goals. 
• Revisit your goals annually. Life changes—your strategy should too. 
• View your investment plan as a living roadmap. Not a static checklist. 

 A Word for Business Owners: Don’t Over-Leverage on the Business 

For entrepreneurs, the temptation to pour every dollar back into the business is strong. But long-term wealth isn’t just about growing a company—it’s about protecting personal assets, building parallel income streams, and creating options for the future. Whether it’s investing surplus income, setting up an individual pension, or preparing for succession, business owners need a financial plan that mirrors the same intentionality they bring to their companies. A well-diversified personal investment portfolio—especially one that includes alternatives—can help offset business risk and ensure personal financial independence, even if exit plans change.  

In Closing: Every Age Is the Right Time to Invest Intentionally 

Investing isn’t just about where the markets go—it’s about where you want your life to go. The best investment plan isn’t built once and left alone. It’s revisited, refined, and realigned as you move through life’s milestones and as markets evolve. If you're thinking differently about your investment approach—and want to explore how the evolution of investing could apply to your life stage—speak with a trusted advisor. Strategic guidance at the right time can make all the difference in ensuring wealth isn’t just built—but lasts.