Many millennials don’t associate insurance as part of their financial picture, but it’s an important piece of financial planning. We are so focused on saving, paying down debt, and investing, that we sometimes forget about protection planning. Please note: every person’s situation is different so it’s important to work with a comprehensive financial planner to make sure you have the … [Read more...] about Protect Yourself and Your Stuff – An Insurance Overview
About half of my clients are couples, and they often ask me what they could improve with their finances. My suggestion: View “your money” as “our money” and start planning as a couple. I realize that you may have spent the last 10 years of your adult life as a single lady (cue Beyoncé), and you didn’t have to take into account anyone else’s money habits — or their money … [Read more...] about Couples And Money: Avoiding The Two-Income Trap
I am asked a lot of questions about retirement: Where should I save for retirement? Should I use a 401(k) or a Roth IRA? Can I do both? What’s a Roth 401(k)? How do I find out about my company match? I have a 403(b), what’s that? These are all great questions! Today I want to break down all these ways to save for retirement and which ways might be best for you. … [Read more...] about Should I Contribute to a 401(k) or a Roth IRA?
Congrats! You just finished college, or grad school, or law school, or business school! Now, it’s time to figure out what student loan program you’re going to choose to pay back your student loans. If you have a reasonable amount of student loans in relation to your income, then you will most likely want to choose the 10 year standard repayment method so that you can pay them off … [Read more...] about Student Loans: Pay As You Earn, IBR, ICR, PSLF, and OMG This Is Confusing!
A common question that is brought up by my Gen Y clients is: what do I do about my student loans? The problem is that there isn’t a simple answer. It really depends on a few things: The amount of student loans in relation to your income; if the loans are public or private; the interest rate on your student loans; and the other goals that you’re trying to achieve. Prioritizing … [Read more...] about How to Prioritize Student Loan Debt While Working Towards Other Financial Goals
When I left my job a few months ago to start Gen Y Planning, there were many people that were nervous for my “lack of job security” (I guess that I was one of those people!). But I’ve seen so many people have success by running their own businesses and becoming entrepreneurs that I was so excited about creating what I’ve been dreaming about. Entrepreneurship = Job Security Most people … [Read more...] about Why Entrepreneurship is the New Job Security for Gen Y