Finance Archives - Millennial Wealth Management

Embracing Diversification & Long-Term Investing Strategies

April 14, 2023
Finance

Hey there, young professionals! It’s time we talk about a crucial aspect of your financial life—investing. As a financial planner, I often encounter individuals who are enthusiastic about making money in the stock market but lack a clear understanding of the right approach. Two popular investing...

The Importance of an Emergency Fund

April 3, 2023
Finance

As a financial planner, one of the most crucial pieces of advice I can offer is the importance of having an emergency fund. Life is full of unexpected twists and turns, and having a financial safety net can make all the difference in weathering those unforeseen events. In this post, we will discuss...

The Value of Professional Financial Planning

March 24, 2023
Finance

As a high-income millennial, you have worked hard to achieve a level of success that many people your age aspire to. With your busy lifestyle, you may find it challenging to manage your finances, plan for the future, and make wise investment decisions. This is where a financial planner can provide...

A Millennial’s Guide to Financing Your Child’s College Education

March 16, 2023
Finance

Congratulations, high-income earning millennials! You’ve worked hard, built a successful career, and now you’re thinking about your child’s future. As you plan for their college education, you may be wondering how to maximize your investment and choose the most effective strategy...

2022 Quarterly Financial Review for Millennials

January 26, 2022
Finance

In uncertain times, having a review plan for your finances in place is vital. Needless to say, 2022 has gotten off to a rocky start. Political entrenchment in Washington continues to prevail as stock market volatility has shaken investors. Despite all the noise, following a plan has been and always...

End of the Year Planning Considerations

October 25, 2021
Finance

It’s hard to believe we are quickly approaching the end of the year. As we head into the holiday season and work (hopefully) begins slowing down, here are some end of the year planning considerations. This list is of course not exhaustive, but these are some of the major planning items to review...

The Backdoor (Roth) Might Be Closing

October 13, 2021
Finance

The Roth IRA can be a great way to hedge against rising taxes in retirement. One of the best aspects of a Roth IRA (or Roth money set aside in a 401(k) or other employer sponsored retirement plan) is that the distributions are completely tax-free in retirement as long as certain requirements are met. You...

How To Manage Lifestyle Creep

September 8, 2021
Finance

Lifestyle inflation, also known as “lifestyle creep”, is that slow but steady creep of spending more over time on luxury items and things that go beyond the typical basic necessities. A common phrase used to describe this phenomenon is known as “keeping up with the Joneses”. As income increases over...

Saving for a New Home Purchase

August 20, 2021
Finance

2020 was an unprecedented year in recent memory to say the least. The pandemic drove a number of trends, including younger Americans storing away cash like never before and a white hot housing market. As older millennials started families amid the backdrop of the pandemic, demand has surged for younger...

6 Steps To Create A Zero-Based Budget

August 10, 2021
Finance

In the finance world, we often talk about the need for a budget and how it’s the foundation of any financial plan. However, financial professionals do not always do a good job providing the practical advice of simply how to create a budget. In fact, we go into great detail in our Financial Foundations...