Starting Out
It’s never too early to get on the path to reach your financial goals. A CFP® professional can equip you with the tools to start out on the right foot.
Guiding Gen Zers and Millennials Through Life's Financial Transitions
Financial planning for Gen Zers and Millennials requires a different approach than for older generations. These young adults often balance careers and income with student debt, buying a home, marriage, building families and saving for retirement, just to mention a few financial intentions.
The Latest
Reflecting on my journey, I’m compelled to share financial wisdom I wish I’d known sooner as a college student. Financial illiteracy is a pervasive issue, and many college students overlook the importance of a financial plan simply because they don’t know where to start.
Many young adults enter the workforce with dreams of a bright future without a clear plan for achieving it. They receive their paychecks, spend on what they need, and indulge in what they want without considering the long-term implications and expense of their financial decisions.
What better time than the start of a new year to craft your financial future. Working with a CFP® professional provides direction in several areas of personal finance, including budgeting, investments, insurance and tax planning.
It’s important to note that when tax-loss harvesting, the replacement investments have a lower basis and, if sold, will recognize the gain deferred from the sale when first harvesting the loss. That said, a good strategy may be to hold these positions in one’s portfolio for as long as possible and consider it a core holding, held long-term.
Instead of giving young adults expensive clothes or random cash gifts, opt for more thoughtful gifts that will help them advance as adults, such as a financial coaching session or financial literacy class. Or you might offer to match monetary contributions to a savings account up to a certain amount.
Recent events have accelerated discussion around estate planning and end-of-life preferences. But we don’t need to wait for a world event to review our estate plans – personal life events matter, too.
This rule suggests that retirees can withdraw 4% of their retirement savings every year for the duration of their retirement. However, as economic landscapes and life expectancies evolve, the original 4% rule is increasingly being considered outdated and in need of a revamp.
The beginning of the holiday season is a great time to sit down with a financial advisor to go over your spending and finances. Having someone organize your finances and then make appropriate recommendations will enable you to be smarter and more efficient with your money.
Did you know that military enlisted personnel, on average, receive cash compensation higher than that of approximately 90% of civilians of the same age and education level? Not only is your cash compensation higher, but your military benefits are great! So how can you, as a new recruit, navigate your many military benefits?
A CFP® professional – a financial advisor who has earned CFP® certification – can assist you in many areas of financial planning, providing holistic advice and behavioral coaching. CFP® professionals work on all the elements of comprehensive financial planning.