It has been our intention for some time to be able to share our ideas to everyone who will listen. It's truly an honor to be able to try to build a strong financial foundation for anyone willing to listen.
It’s a pleasure to have your attention –the small amount of time it will take you to read this will pay itself back indefinitely. As the initiating post, I’d like to air out a major concern: our incredibly talented, forward-thinking generation is financially unequipped. I’m sure everyone has heard it before – “save your money.” I know I heard it from my parents, teachers, relatives and basically anyone in my life who enjoyed spewing tacky clichés that masqueraded as sound advice. As someone who earned a college degree in Finance and Accounting, with post-graduate experience at an investment bank, I have had ample education, experience and exposure to the world of finance and investments. I consider myself financially literate, and I hope that sharing my work and writing can serve to end the masquerading and start laying out sound framework for putting your money to work for you.
I think anyone who has ever worked can remember the first time they received a paycheck. There was excitement, a sense of accomplishment and – most importantly – financial independence. Maybe you wanted to buy new clothes, new sports equipment or...buy a share of Amazon(?!). Okay, maybe not the last one -- but which one do you think would have been the most lucrative choice? Probably the one we didn’t choose, myself included. One of the biggest steps you can take to ensuring a secure and comfortable life is putting your money to work for you.
I don’t need to lay out the math step-by-step to help you see the advantages of investing your money and reaping the compounding returns. However, I find it astonishing that so many people in our generation are willing to slave away at work, putting up with overbearing bosses, needy clients and aggravating coworkers only to let their money off the hook. That’s right, while we are busting our tails at the office, our money is not working.
I would like to highlight a basic statistic that is the root of my worries: only 26% of adults under 30 own stock. Let me rephrase that: 74% of millennials either a) don’t have the savings to invest or b) are letting their money collect cobwebs in their bank accounts. And this comes at a time when our country is at nearly full employment and wages have been steadily growing.
So, I implore you to keep reading – and start putting your money to work for you – to start reaping the benefits of each hard-earned dollar.