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Portfolio Builder: Tips for investing at any age

BEST OF BNN: Your investing risk tolerance and priorities will vary depending on whether you're new to your career, in your peak-earning years or enjoying retirement. And, BNN has you covered with its week-long investing special, packed with portfolio building tips geared to every age group, from the 20s to the 60s. 

The series kicks off with a look at investors in their 20s - people who are just starting their careers and thinking about the future.

Duane Bentley, regional director, Investors Group tells BNN the No. 1 priority for 20-year-olds is to get their debt under control and quit financing their lifestyles. Bentley encourages 20-somethings to save for their goals and pay cash for expenses.

But, later in life, investing goals change, according to the experts.

When you're in your 40s, you're in your "sweet spot," says Cynthia Kett of Stewart & Kett Financial Advisors.

By this time of your life, you have an established career and a high income, she says.

This decade differs greatly from your 30s when you have "limited cash," and your 50s, when you have "limited time," she adds.

Regardless of age, Kett encourages people to seek financial planning advice, as well as pay down their debts. 

"In all cases, you always want to discharge as much debt as possible, but the key is to not ramp it up in the first place," Kett says. 

For investment tips when you're in your 20s, 30s, 50s, and 60s, visit our extended coverage section on this page. For advice on your 40s, watch the video above. CTV Two CTV News CTV News Channel BNN - Business News Network CP24