Skip to main content

  • Home
  • Home
  • Clients
  • Philosophies
  • Our Team
  • Contact Us 
    • Ask Us A Question
  • Affiliations
  • Blog
  • Financial Check-Up℠
  • Resources
    • Calculators
    • TD Ameritrade Account Login

    You are here

  1. Home
  2. Blogs
  3. 8 Things Every Generation Y & Z Need to do for Financial Success

8 Things Every Generation Y & Z Need to do for Financial Success

Submitted by BCR Wealth Strategies on September 17th, 2019
  • Facebook Like
  • Google Plus One
  • Tweet Widget
  • Linkedin Share Button

Young people who are just starting out in their professional careers often feel like they've been thrown to the wind when it comes to financial matters.  It’s odd – but understandable – that they’ve just spent a minimum of four years intensely focused on getting the education necessary to secure a good financial future, yet they frequently enter the “real world” with no actual knowledge of the basic rules of good financial planning. 

With that in mind, I’ve put together a collection of our blog posts to serve as sort of a primer for any young professional who wants to make sure all the time and money they invested in their education pays off to its maximum potential.  And avoid ending up like these guys. 

  1. Resist the temptation of buying a home before you're ready. 
  1. Get 3-6 months of expenses saved in an emergency fund.
     
  2. Start saving for retirement right away, even if you have student debt.  You could be surprised at how big a difference starting now will have on your ability to build wealth.
  1. Don’t leave free retirement money on the table.  Make sure to take full advantage of your employer match accounts. 
     
  2. Create good general savings habits and stick to them.  Consistently save a substantial amount of your household income toward future needs, like cars, a home, and your children's education.
     
  3. Get your estate documents done now.  Even if you don’t have children, you still need a will, power of attorney, and an advance medical directive. 
  1. Get the right insurance.  You need life insurance, of course, but you have a greater chance of being disabled by an illness than of dying from it, so make sure you are covered for disability.
  1. Have an investment philosophy and stick to it.

 

Follow these guidelines from the beginning to get the jumpstart that so many figure out they need when they are trying to catchup from past mistakes.  If you have questions about how to get any of it done, get help from a friend, family member or financial advisor! 

-Clay Wood-

Tags:
  • Author- Clay Wood

Subscribe to Our Blog

Enter your email address:

Recent Blog Posts

  • General vs Personalized Part 2
  • Stop, Collaborate and Listen
  • An Unusual Opportunity For a Tax Deduction

Categories

  • Author - Clay Wood (3)
  • Author - Harold Sasnowitz (2)
  • Author - Intern (13)
  • Author - Lindsay Birchfield (2)
  • Author - Mark Hume (25)
  • Author - Marshall Rathmell (6)
  • Author - Sandra Cleveland (3)
  • Author- Clay Wood (31)
  • Author- Harold Sasnowitz (29)
  • Author- Kristie Clayton (7)
  • Author- Marshall Rathmell (92)
  • Author- Sandra Cleveland (49)

Archived Blog

  • March 2021 (1)
  • February 2021 (5)
  • January 2021 (4)
  • December 2020 (4)
  • November 2020 (5)
  • October 2020 (4)
  • September 2020 (4)
  • August 2020 (5)
  • July 2020 (4)
  • June 2020 (5)
  • May 2020 (5)
  • April 2020 (8)
  •  
  • 1 of 7
  • ››

Contact Us

Ask Us A Question

 

Alabama

Phone: 205-298-1234
Fax: 205-298-1230

1952 Urban Center Parkway
Vestavia, AL 35242

Get Directions

New Jersey

Phone: 607-238-7718
Fax: 607-238-2859

22 Lenox Ave
Clifton NJ 07012

Get Directions

Affiliations

BCR Wealth is an independent firm that puts its clients’ interests first.  In order to maximize the value we provide clients we have affiliations and strategic alliances with other organizations including:


TD Ameritrade, Inc. is one of the firms that we use to custody our client assets. TD Ameritrade, BCR Wealth Strategies, and the other entities named are separate and unaffiliated firms, and are not responsible for each other’s services or policies. TD Ameritrade does not endorse or recommend any advisor and the use of the TD Ameritrade logo does not represent the endorsement or recommendation of any advisor. Brokerage services provided by TD Ameritrade Institutional, Division of TD Ameritrade, Inc., member FINRA/SIPC. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. Used with permission.

  • Sitemap
  • Legal, privacy, copyright and trademark information
  • Form CRS

© 2021 BCR Wealth Strategies LLC. All rights reserved.

Website Design For Financial Services Professionals