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How To Set Yourself Up For Financial Success In Your 20s
In your 20s, you may be getting out on your own for the first time, securing your first grown-up job, dealing with your fair share of heartbreak, paying your own bills, and discovering new things about yourself. Your 20s are also the best time to start good habits to set yourself up for future financial success. To that end, here are nine things everyone in their 20s should be doing to set themselves up financially.
5 Ways To Pay For The College Your Child Got Into
It’s college admission season. If your child has gotten into a great university but it comes with a high price tag, you may be racking your brain to figure out how to pay for that school. You’re not alone in this anxiety: 78% of families say they eliminated a college from their consideration based on cost alone, according to a 2023 report by Sallie Mae. This is a discussion of five methods for paying for college and when each option may be appropriate.
How To Choose A Business Structure That Fits Your Financial Priorities
Sixty-six percent of millennials want to start a business, according to a recent study from Bentley University. If you’ve gone through the work of creating a business plan, doing market research, and you’re looking to grow or secure funding, the structure of your business is a critical consideration. This is a discussion of some different business structures, risks and costs involved, and specific advantages of each structure.
How To Plan For The Financial Benefits And Challenges Of Being Single
As our society’s preferences shift, more and more Americans are choosing to forego romantic relationships and marriage, and instead embrace their independence. In fact, more than 50% of adult Americans are currently single, compared to 22% in 1950, per the Bureau of Labor Statistics. Single people have some unique benefits and challenges in planning for their financial future. This is a discussion of those benefits and challenges, and ways to ensure financial security.
How To Figure Out What Retirement Might Look Like For You
When I speak with people about what they envision their retirement to look like, I often get answers along these lines, “I have no idea what I’d do with myself if I wasn’t working.” If you’re one of these people, I’ve found that hearing the stories of what other people do with their time in retirement may make the prospect seem less daunting.
MY BOOK
I seek to make personal financial planning less scary.
This book provides a simple guide for working through life's biggest financial questions facing couples in their 20s, 30s, and early 40s today. It starts with goals-based planning around topics including retirement planning, education planning, and major purchase planning. It then walks through some basics of investment management, options for how to invest, behavioral finance, and pitfalls to avoid. Lastly, it discusses risk management and insurance.
If you are not sure where to start, this book may provide some clarity.