Financial Strategies for Young Adults to Newfound Wealth

The hardest part is getting started.  Even though more than half of U.S. households have some form of investment in the stock market, many new savers may find that creating a financial strategy is the last thing on their minds. And who can blame them? After all, we all have a million concerns to keep in mind on top of any unexpected financial pressure that may arise. But for individuals and families with discretionary income, or newfound wealth, creating a financial strategy may be easier to pursue than they realize.¹

What’s your end goal? What expenses do you anticipate in 5, 10, or even 15 years from now?

Establishing goals for specific investments is one of the many ways we help our clients reach their financial goals. Before meeting with us, jot down all the financial questions you can think of. These answers can help define your family’s short-term and long-range financial goals.  

Once you start, try not to stop. If you have already started investing, congratulations may be in order! In getting an early start, you have taken advantage of a powerful financial asset: time. However, don’t overlook the power of consistency. For some, consistent investing may be the most realistic pathway to pursuing their financial goals.

For those who haven’t started, that’s okay too. Remember, it doesn’t always take a lump sum to begin. Automating deductions directly from your bank account, so you don’t ‘see’ the money, makes it easier to invest. Even auto-depositing $100 a month into an account is a step toward your goals. And who knows? As your circumstances change, you may be able to contribute even more over time. And don’t forget to take advantage of employer sponsored retirement plans that offer free matching money.

There is no “one way.” The point is that there isn’t a single, one-size-fits-all solution new savers that are looking to invest in their future.  We will help craft a strategy suited to your specific needs and financial situation. The process will include looking at your current financial situation and developing an approach based on your goals, time horizon, and risk tolerance.

Many of our clients have already met their financial goals by following our methods.  Now they have the pleasure of witnessing their adult children implementing our proven strategies. If you know someone who could benefit from a relationship with Kaizen Financial Advisors, please have them reach out to a Kaizen Advisor!