Structured Beauty

Key Takeaways

  • If nothing else, young adults should understand their balance sheet, cash flow and taxes for a happy financial life.
  • Remember to always save first, spend second.
  • As you get older, your assets grow and so do your expenses. Never take your eye off the big picture (see the first two takeaways).

Subconscious Emotionality

Key Takeaways

  • Research shows that 95 percent of our decisions are made with the subconscious rather than the rational part of the brain.
  • With respect to money, you can’t change your behavior until you understand your emotional side.
  • Emotion, Structure and Behavior are the three legs of the money decision stool. Get familiar with each leg.
  • When it comes to money decisions, most of us have an imaginary angel on one shoulder and a devil on the other competing for our attention.

The 10 Essential Facts Affecting Your Future

Key Takeaways

  • Money issues are tough for today’s young adults. It’s not your parents’ or grandparents’ financial reality, but there’s hope if you’re smart.
  • Delaying marriage, home ownership and parenthood has benefits in the short run but can create retirement challenges down the road.
  • Young adults know they need to be much more proactive about saving for retirement than previous generations were.
  • Don’t be overly concentrated in cash during your early years—it’s the best time to take smart risks.

3 Millennial Money Myths

Key Takeaways

  • Position yourself as a “corporation of one.” It can be far more valuable and satisfying than simply getting a job.
  • Credit cards and debt are not necessarily bad. You want to establish good credit now and show you can manage debt responsibly.
  • Owning a home is not the American dream if it doesn’t give you the freedom to move around easily. Don’t overlook renting.