Help Wanted in the Financial Planning Department
This month, I’ll celebrate my birthday, but I’m not sure how much celebrating I’ll do. At 28, I’m back in my hometown in Oregon after two cross-country moves and more than one journalism career blip thanks to the economic downturn. Needless to say, I’m not quite where I planned to be.
My looming birthday also got me thinking about my finances. Are they where I’d hoped they’d be at 28? Not really.
That’s not to say my generation doesn’t have its share of savvy savers and planners–some of us have worked steadily at the same company for years, wouldn’t dream of taking financial risks and budget with specific goals in mind. But are today’s job market and high cost of living making it tough for Gen Y to achieve financial security? I’d certainly say so. Some of us made the choice to be financially unstable, while others simply didn’t have one.
This month, as I blow out my 28 candles (and set up my first automatic monthly checking-to-savings transfer in years), I ask credit unions this: What will you do to encourage Gen Y-ers to become better financial planners? How will you persuade someone like me to start paying into a retirement savings account? And how will you teach us the value of building a nest egg over making impulsive purchases?