Financial Planning for Millennials
The Traditional Model Doesn't Fit
As a millennial in 2021, you're in your late 20's or 30's. You're figuring out this whole "adulting" thing, managing student loans, building a career, and maybe starting a family or buying a house.
If you've met with a non-millennial financial advisor, you've likely experienced a disconnect. The traditional financial planning model is focused primarily on retirement projections and investment management. But retirement feel a million years away, and you likely don't meet their investment minimums which typically range from $100,000 to $1,000,000.
Our Unique Experience as Young Adults
For our parents and grandparents, life was more predictable – finish school, get a job, get married, buy a house, start a family. Fifty years ago, the average age to marry was 22, last year it was 32.
We have family members who didn’t attend college because they couldn’t afford it. For us, we have student loans available. Improved access to both birth control and fertility treatments like IVF, have given us more control over when, or if, we have kids. Easy online access to information has given us the ability to search for job opportunities across the country, buy a home, or sign a lease from anywhere.
What does all this mean? We have options we didn’t have before.
Weighing the Options
These options are great! Doors are open that haven’t been before. BUT – with every option comes the need to make a decision, and many of those decisions have competing priorities. If you’re like me, your decision-maker might be fried. You don’t need someone to help you with retirement projections. What you want is someone to guide you through making decisions, to help you define your next action items and to support you with the follow through.
If this sounds like the financial guidance you’re looking for, click below to schedule a free, no obligation, virtual consult. Select “Zoom with Nicole” and pick the 30-minute complimentary consult. I look forward to connecting.
(03/21)