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The Most Crucial Service for Millennials blog post

Financial Planning

4 min read

September 15th, 2020

The Most Crucial Service for Millennials

Most millennials live under the false assumption that they do not need financial planning.

This happens for a couple of reasons: the majority of millennials have some amount of inescapable student debt they believe a financial planner would not be able to help with, millennials believe they don’t make enough money to require a financial planner, and believe even if they did make enough money that they lack the assets to be able to work with a financial planner.

Fortunately, these assumptions are wrong.

Financial Planners help Millennials with everything from working through their employer’s benefits package to buying their first home to finding the most efficient path to paying off their student debt while achieving their other financial goals.  

In your 20s, 30s, and 40s you go through more life events than any other period in your life.  From graduating college to getting married to buying your first home and having children.  These events happen in the blink of an eye and have a huge impact on your personal finances.

Financial planners help millennials identify their financial goals and lay out a basic timeline.  Using their goals and timeline, they help build the most efficient account structure and savings and investment strategies to reach their goals within their timeframe.

It is crucial that millennials become aware of this value early in their post-grad lives.

Finding a “good fit” with a financial planner can set a young person up to accomplish many of their financial goals much earlier than they otherwise would have. A “good fit” for a millennial is a planner who holds a fiduciary duty and works on a fee-only, comprehensive basis.  By getting some professional guidance, millennials can position themselves much better and set their path to an early retirement, the house they always wanted, and most importantly, financial security.

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