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What Issues Should I Consider When Starting Out Financially?

You likely have clients who are raising children entering adulthood. While parenting is not a core focus area in financial advisory services, you are uniquely situated to provide valuable support to your clients who are teaching their children to become financially responsible.

Financial literacy is fundamental to financial independence and prudence. However, financial topics and skills are often omitted from traditional school curriculum, leaving the teaching responsibility to parents. In addition to leading by example, your clients may wish to engage their children in structured conversations regarding financial responsibility. To help you guide these discussions, we have created this checklist to address many of the planning issues that young people face when first starting out financially. It covers basic financial topics, including:

  • Goal setting
  • Cash flow management
  • Saving strategies
  • Credit and debt management
  • Risk management
Related Guides
What Accounts Should I Consider If I Want To Save More?
Category: General
What Issues Should I Consider If I Experience A Sudden Wealth Event?
Category: General, Working / Accumulation Phase, Estate Planning, Life Events
Should I Take My Pension As A Lump Sum?
Category: General, Retirement / Decumulation
What Issues Should I Consider When Reviewing Cash Flow?
Category: General
What Issues Should I Consider When Funding An Unexpected Expense?
Category: General
What Issues Should I Consider When Dealing With High Inflation?
Category: General
Where Should My Next Dollar Go?
Category: General, Tax Planning
What Issues Should I Consider When Establishing And Maintaining My Emergency Fund?
Category: General

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— Jonathan, an advisor in Colorado
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— Michael, an advisor in Pennsylvania
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