My visit with Jason followed on the heels of some extensive research I was involved in, to gain a better understanding of millennials' financial habits. In addition, we also investigated the role (or lack thereof) a financial advisor plays in helping millennials plan and save. The results? As varied as their personalities.
When the big 3-0 is right around the corner, it can seem like all your biggest anxieties about money are culminating into one apocalyptic mess. Getting married, having kids and saving for retirement, once distant goals with their own financial implications, have now edged their way up to the top of your to-do list. But turning 30 can also be a time when you finally figure things out.
Before the 20th century, only the wealthiest of the wealthy could afford diamond rings. One of the first recorded examples of a diamond ring was in 1477, when Archduke Maximilian of Austria gave one to Mary of Burgundy. After that point, diamond engagement rings became a symbol of wealth and prosperity, and accordingly, limited to the furthest arches of the upper class.
Wherever financial misery exists, expect scam artists to follow close behind, ready to take advantage of it. Too often these days, when the phone rings, it is some helpful person who claims to have a way to rid you of your financial problems. But in reality, what they often really want to rid you of is your money.
This story is going to sound very familiar to you. It wasn't inspired by any specific set of circumstances that happened to a colleague within the last month. Six months. Or even a year. Because the truth is, it has happened to me. And it has happened to you. And if it hasn't happened to you, trust me it will.
Research shows that America's youth has a deep lack of understanding when it comes to finances and how to properly manage money. These disturbing statistics have generated a national movement to incorporate financial literacy into our education system and encourage parents to teach money management lessons at home.