As the largest generation in U.S. history, millennials face different financial challenges than their parents before them.
For instance, many are burdened by substantial student loan debt, resulting from college tuition increases outpacing the rate of their potential wage growth. This debt, along with other financial barriers, can make it difficult to achieve near-term and long-term goals.
However, taking simple steps now can help you plan for a better financial future.
Effective ways of maximizing your wealth can be small, such as building an emergency cash fund, paying down debt, living below your means, and staying away from credit cards. Also, by creating an automatic savings account, you can grow your money through compound interest over time.
Ultimately, partnering with an advisor who understands you and your needs will help you develop a financial plan that moves you forward in paying off debt, pursuing your dreams, and saving for your future.
To discuss how SC&H’s Personal Financial Planning team can help you achieve personal financial freedom, contact Andrew here.
Securities offered through Triad Advisors, Inc. Member FINRA, SIPC. Investment Advisory Services offered through SC&H Financial Advisors, Inc. SC&H Financial Advisors, Inc. and Triad Advisors, Inc. are unaffiliated entities.