Millennials Aren’t Invincible

There is no other way to state this. We are a big generation doing some incredible things from our personal lives to business. I meet some extraordinary millennials every day. Just because we have the biggest generation and without question taking over the world in record numbers, does not negate our financial responsibility. There is some schooling that needs to take place in the financial space.

Millennials are more aware of our own financial economy’s than our parents were about theirs. We understand credit scores, savings, investments, salaries, mortgages, equity, etc. That’s the problem though: we understand it, but we fail at the application. We read it in a book or attended sessions on finance. Those were some good steps, but we have to look at all the years of bad wisdom or lack of development in this space. If I could tell you the number of how many of my peer millennials that ask me for my help, I would already be a multi-millionaire. Seriously.

One of the biggest concerns I have with my generation in the financial space, is the lack of application to protect their income. Millennials love money. We just do not know how to anticipate the inevitable cycles of life that will bring risk against our earning potential. Protecting your income is a necessity. Let me go just a little more deeper on a reason you will need to start hedging plans that sustain your cash. Especially if you are a highly compensated employee.

Your income controls every decision and action you make in society. It is the center piece to all of your transactions. Without the mighty dollar, you would not be able to purchase the houses, cars, suits, dresses, mutual funds, wine, and bourbons if you get sick or injury very badly. You are not invincible. I promise you that. Understand that life is in cycles and all financial legacies depend on cash flow that is sustained.