Tips from financial advisors: Millennials planning for retirement, listen up

TLDR:

Key Points:

• 64% of millennials have investments, making them the most invested generation.
• Social media platforms like LinkedIn, Twitter, YouTube, and TikTok are rising in popularity among millennials as sources of financial information.

Many financial advisors are impressed with how millennials prioritize their finances, especially considering the challenges they faced during the Great Recession. The importance of emergency savings, setting clear priorities, budgeting, reverse budgeting, and taking advantage of employer matching contributions are highlighted in the article. Financial advisors emphasize the significance of Roth IRAs, social media as a source for financial advice, and properly investing in employer-sponsored plans. The article provides practical tips and advice for millennials to improve their financial health and plan for their future. Ultimately, the message is clear: it’s not too late for millennials to start planning for a secure financial future.