The time has come. You’re off the parents’ payroll, you are on the hunt for your own place and it’s time to get your proverbial stuff together. It’s not like you don’t want to, it’s just that there is so much to think about! Take a breath and relax while we break it down into easy steps for you. You’ll be on the adult path in no time.
As a young adult, it’s easy to forget that you can, and will, get sick and need medical intervention at some point. Also, if you haven’t been the one footing the medical bills so far, it can be a sobering and potentially derailing experience when you are faced with the largest bill you’ve had in your life so far. Medical debt constitutes over 66% of all bankruptcies. Protect yourself. Find an affordable insurance policy before you need it.
It is easy to think that financial planning and investing are only for people with plenty of disposable income. That is far from the truth. A financial advisor can help you come up with a plan to meet whatever goals you have in mind. Do you want to retire at 35? A financial planner can give you the real truth about what it takes to achieve your dream. That may mean no more Starbucks but once per month, eating home and taking your lunch instead of eating out and saving every penny that isn’t absolutely necessary for saving or investing and living expenses. Do you want to buy a house? Your advisor can set you up with a budget that includes the saving and investing strategy that will put you on the path to success, no matter your goal.
Starting out in a career can be a scary and isolating experience when navigating the professional ladder. That’s why it is a very good idea to have a mentor, someone who can give unbiased advice and guidance when you need it. Is there someone that you admire and want to emulate in your career? Reach out to them and ask if they would consider a mentorship. Just keep in mind that a mentor will expect to see you work hard to put their advice into practice. Having the voice of experience guide you can give you a big leg up in your career if you are willing to listen to constructive criticism and work harder than everyone else.
If you are just starting out, be your own best advocate. Seek the guidance you need to put you on the path to your best life.