Advice for the Young Adult
My grandchildren are rapidly approaching adulthood. Now that’s scary since this means grandpa (and their parents) will have less influence as their peers and society at large becomes more impactful on their daily lives.
In addition, this week as I write this, I’m counseling the second son of clients who had me sit down with their firstborn five years ago as he first entered the workforce. As I looked over my notes from that original “brain drain” session five years ago, it’s surprising how little my opinions and suggestions have changed. It’s about being emersed in personal finance in the long run. I sent him an introductory email with this agenda and attached Bob Veres’ “Finances for my Daughter” that he updated in 2019. It’s a 40 page40-pageQ&A format piece you can find on Google.
Agenda:
Typical people
Successful people traits
Reading suggestions
Tools
Commitment
Consistency
Maybe this is like sending the tune ahead of time with lyrics to follow. Now that you’ve read this far, I’ll tell you what’s on my list for this and other young adults:
Blogs
o Money Under 30
o The Simple Dollar (plus subscribe to the daily email)
Two articles
o 10 tips we could have given our younger selves here
o Summary of Stephen Covey’s 7 Habits of Highly Effective People here
Books
o Winning the Loser’s Game by Charles Ellis, 7th edition
o The Bogleheads Guide to Investing by Taylor Larimore
o The Simple Path to Wealth by J. L. Collins
Apps
o Mint.com
o Vanguard.com
And finally, I will give him the advice I wrote down for my grandkids in 2016 just in case I wasn’t around to personally offer them my experience. Someday, I won’t be. You can read it here
