Being young comes with advantages such as early investing which can potentially lead to more wealth down the line.
This article is a contributed piece as part of a series focused on millennial financial empowerment called As wealth planners, my team and I provide guidance to our clients about how to create financial plans and strategies to help build and sustain wealth throughout their lifetimes. Over the last 30 years, I've been fortunate enough to listen to their challenges and help build solutions for them.
If you don't have a 401 plan, consider contributing to a tax-deferred plan, such as a traditional or Roth IRA. When you're young, you're not thinking about retirement. There are so many other major expenses coming your way, making it easy to focus on short-term goals, such as saving for a vacation or buying a new car. But you also need to focus on longer-term goals.
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