The income structure throughout our lives actually forms a "J" shape.

- In the first few years of starting work, it is relatively easy to improve wage income, which is the "upward climb" phase.

- After reaching middle age, the difficulty of increasing income will gradually increase, and the growth rate will slow down.

- Upon retirement, income may even decrease, which is the "downward slide" phase.

Matching this income situation, our entire investment career can be summarized in one sentence from "Records of the Grand Historian": "When poor, work with strength; when somewhat wealthy, compete with wisdom; when wealthy, strive for timing."

- When young and without money, accumulate the first pot of gold through human capital.

- After earning a certain amount of money, find ways to make good investments.

- When older, seek stability in retirement. Strive to prolong the duration of a happy life.When young, the most important thing is to improve oneself.

During the younger years, it is generally through salary income that one can outpace inflation.

This is because, in the first few years of working, the rate at which one's salary increases is faster than making money through the stock market.

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One should prioritize the development of the value of their human capital.

Many outstanding young people, through continuous efforts to improve their professional abilities, can significantly increase their salary income in the first few years of work, which is not a difficult thing to achieve, with numerous such cases to be found everywhere.But if the principal is small, when investing and encountering a bull market, making a profit does not solve too many life problems. 100 yuan, encountering a major bull market, making a 100% profit, still only earns 100 yuan.

When young, the most important thing is to improve oneself and increase income. Ensuring that one's 'upward' speed is faster and reaching higher is also more reliable.

Of course, this does not mean that the process does not require investment and financial management. Instead, while improving oneself, try investing with a small amount of capital to accumulate investment experience.

When it comes to investing, the psychological experience is completely different when the market fluctuates, whether or not one has truly invested capital. Only when we put real money into the market can we truly accumulate practical investment experience and not be limited to theoretical discussions.Moreover, the psychological experience of investing 10,000 yuan and 1 million yuan is entirely different when facing market fluctuations. The amount of capital can alter our investment mentality.

These experiences all require time to accumulate.

Therefore, during this phase of investment, the expectation is not to make a lot of money, but to accumulate valuable market experience to prepare for future investments.

Even Buffett, from his childhood, was taken by his father to invest and meet investment magnates. By the time Buffett reached adulthood, he already had years of investment experience.

In middle age, proper asset allocation allows "money to make money."

When we reach middle age, our careers enter a stable phase.The growth rate of income may gradually slow down. That is, you will still continue to make money, but the rate of wage growth will not be as high as before.

However, the amount of income will be at the peak level of life, and the money you can save will also be the most.

These funds can be well allocated in assets.

* If you are a working professional, arrange for the five insurances and one housing fund. Some companies will also arrange for corporate annuities for employees, which is also a kind of pension configuration benefit.

* Last year, individual pension accounts were added, which can serve as a deferred tax benefit for high-income individuals.

* When declaring personal income tax annually, if you have expenses such as supporting the elderly, raising children, and rent or mortgage payments, remember to declare them in time, which may also save a part of the funds.Here is the translation of the provided text into English:

- In the family, idle money that is not used for a long time can be well invested in stocks and bond funds.

- With little cunning, focus on family asset allocation to outpace inflation.

- In later years, let the happy life last longer.

- After retirement, many people's income will decrease.

- At this time, the pension and financial assets such as funds that have been accumulated over the years have spanned several decades and gone through multiple bull and bear markets.The amount is also sufficiently large, and the income generated can compensate for the reduction in income after retirement.

At the same time, due to the decrease in additional income, the ability to resist risks has also decreased.

Asset allocation will pursue stability.

In this stage, it is necessary to allocate assets prudently to reduce short-term volatility risks.

At the same time, issues such as wealth inheritance and financial education for children will also be faced.

Striving for prosperity is not only about striving for a long-lasting happy life for oneself but also concerns the long-term well-being of future generations of the family.For most ordinary families, mastering the allocation of two major types of assets, stock funds and bond funds, can yield a decent return.

Summary

In the journey of life, youth is the greatest capital. Prioritizing self-improvement at a young age may bring a return far greater than that from investing in stock funds.

In middle age, when income peaks, it is important to properly allocate the accumulated family wealth to outpace inflation.

Asset allocation in later years leans more towards stability and inheritance, ensuring a longer-lasting happy life for oneself and one's family.Please provide the text you would like translated into English.