Whether you are early in your career or have started a family, as a member of the next generation of investors you face your own set of unique needs. Below are key tips to ensure you are off to a financially healthy 2022!

The desire for heads of family to preserve and continue wealth for future generations face challenging odds. According to studies by Victor Preisser and Roy Williams, in their book “Preparing Heirs,” almost 70% of family wealth transference and business succession plans fail. However, it does not have to be this way. With proper planning and focusing on three key things—communication, documentation, and initiation—families can strengthen mutigenerational relationships and increase chances of continued family legacy.

According to a recent Bankrate report, more than 50% of millennials have a “side hustle.” Finding a way to earn extra cash to pay down debt or invest in your future may ultimately be a prudent strategy to help with limited cash flow. But before making that decision, it may make better sense to evaluate the foundation of your financial situation.

As spring approaches with anticipation of warmer weather, so too does a new crop of recent college graduates. Unfortunately, along with diplomas comes staggering student loan debt. Student loan debt is at an all-time high of over $1.5 trillion, having an exponential effect on people’s lives. Young adults are delaying marriage, having children, purchasing homes, and most importantly saving for retirement. How borrowers manage their student loans after college is critical to laying the foundation of their adult financial lives.

When you have a child, sibling, spouse or other loved one living with a disability or special need, planning for the future can feel overwhelming. There are many things to consider and often times, people don’t know where to start. Even with the best intentions, making the wrong decision can have a profound effect, such as losing important benefits the individual is entitled to and needs. Financial Planning, while important for everyone to engage in, takes on an even more critical role in the life of families living with an individual with a disability or special need.

Financial professionals typically recommend that you review your employer-sponsored retirement savings plan annually and when major life changes occur. If you haven't revisited your plan yet in 2015, the end of the year may be an ideal time to do so.

As we approach the end of the year, many of our financial reviews with clients focus on portfolio performance and potential tax loss harvesting. Of equal importance to review is a beneficiary audit. A beneficiary audit is a “check up”

No matter what your age, your work based retirement savings plan can be a key component of your overall financial strategy. Following are some age based points to consider when determining how to put your plan to work for you.

Do women have to take a different approach to planning finances?