See Part 1 here.
In a recent post, I revealed a “secret” that the majority of my millennial generation has no idea what we’re doing when it comes to our financial future. Between student loans, rent, car payments, insurance, and a multitude of other bills we pay each month, contributing to an IRA or another type of retirement plan is low on most of our priority lists. You may be thinking, “Okay, Samantha. We get it. You’re all lost. What’s your point?” My point is, we need you, the older (more experienced & knowledgeable) generations, to help us.
If you’ve ever flown on a commercial airline, you’ve heard the flight attendant’s safety speech: keep your seat belt fastened while seated, your seat cushion may be used as a flotation device, secure your oxygen mask before assisting others, etc. Wait. Secure your own mask before assisting others? It seems selfish to ignore someone else’s needs while you’re concentrating on your own. If you think about it though, it makes sense. How are you supposed to help someone else if you lose consciousness? If someone can’t put their own mask on, they most likely won’t be able to put your mask on for you. This idea can be applied to so much in life, especially when it comes to finances. How can you help us with our financial future if you don’t have much of one yourself?
It’s typically easy to see when someone is in poor physical health. When we do, we offer all the help and any advice we can. When that fails, the professionals take over. It’s not nearly as easy to see when someone is in poor financial health, and even harder to offer them any advice. The topic of money has become so taboo in friendly conversation these days that it feels almost offensive to offer any help. This is, again, where the professionals take over. Whether you’re in poor or excellent physical health, you (should) still see a physician. Think of our team here at Payne Wealth Partners and Keystone Financial Consulting as a financial physician; you never know what could be discovered in a run-of-the-mill check-up.