{"id":2135,"date":"2022-11-01T14:16:17","date_gmt":"2022-11-01T21:16:17","guid":{"rendered":"https:\/\/humanitywealth.com\/?page_id=2135"},"modified":"2024-01-22T14:59:15","modified_gmt":"2024-01-22T22:59:15","slug":"financial-planning-for-millennials-in-the-bay-area","status":"publish","type":"page","link":"https:\/\/humanitywealth.com\/financial-planning-for-millennials-in-the-bay-area\/","title":{"rendered":"Financial Planning for Millennials in the Bay Area"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]<span style=\"font-weight: 400;\">It\u2019s no secret that the financial landscape is evolving, and millennials aren\u2019t the only demographic affected by the changes. Even with easier access to <\/span><strong><a href=\"https:\/\/humanitywealth.com\/subscription-based-financial-planning\/subscription-based-financial-planning-can-create-more-options\/\" target=\"_blank\" rel=\"noopener\">subscription-based financial planning<\/a><\/strong><span style=\"font-weight: 400;\"> and <\/span><strong><a href=\"https:\/\/humanitywealth.com\/financial-planning\/subscription-based-financial-advisors-versus-robo-advisors\/\" target=\"_blank\" rel=\"noopener\">Robo advisors<\/a><\/strong><span style=\"font-weight: 400;\"><strong>,<\/strong> financial planning and wealth management can be overwhelming and easy to put off for anyone. The great news is that once you start, it gets much easier!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This quick guide covers everything from how you can begin financial planning in San Ramon to how subscription-based financial planning can help you plan for your future.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This simple strategy can help you create a solid path to financial freedom:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Ready<\/i><\/b><span style=\"font-weight: 400;\">: Define goals for yourself<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Set<\/i><\/b><span style=\"font-weight: 400;\">: Take stock of where you are now<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Go<\/i><\/b><span style=\"font-weight: 400;\">: Decide what to do next<\/span><\/li>\n<\/ul>\n<h3><b>Why is the financial landscape changing?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Labor force participation has been decreasing over the last 50 years, and millennials are finding it increasingly difficult to save for retirement while getting creative on new ways to build wealth. The millennial generation is even more skeptical of investing than previous generations were at their age. As a matter of fact, <\/span><strong><a href=\"https:\/\/www.cnbc.com\/2021\/07\/22\/majority-of-older-millennials-believe-they-will-work-during-retirement.html\" target=\"_blank\" rel=\"noopener\">61% of older millennials think they\u2019ll need to work at least part-time in retirement<\/a><\/strong><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The stock market may seem like an intimidating place where only those who already have money can get more money; hence, why many young people simply don\u2019t bother with it. But with an affordable financial advisor in the Bay Area, you can gain the confidence needed to help you gain clarity on building wealth and staying on track with your financial goals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Read: <\/span><strong><a href=\"https:\/\/humanitywealth.com\/financial-planning\/the-sp-500-had-its-worst-1st-half-since-1970-heres-what-comes-next\/\" target=\"_blank\" rel=\"noopener\">The S&amp;P 500 Had Its Worst 1st Half Since 1970 \u2014 Here\u2019s What Comes Next<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row][vc_column]    <div class=\"with_anchors\">\r\n\r\n        <section class=\"chapters-grid\">\r\n            <div class=\"row g-3\">\r\n                                    <div class=\"col-lg-4 col-md-6\">\r\n                        <a href=\"#chapter-0\" class=\"chapter\">\r\n                            <div class=\"chapter-subtitle\">Chapter 1<\/div>\r\n                            <h3 class=\"chapter-title\">Developing A Financial Plan<\/h3>\r\n                        <\/a>\r\n                    <\/div>\r\n                                    <div class=\"col-lg-4 col-md-6\">\r\n                        <a href=\"#chapter-1\" class=\"chapter\">\r\n                            <div class=\"chapter-subtitle\">Chapter 2<\/div>\r\n                            <h3 class=\"chapter-title\">Why You Should Start Planning For Retirement Now<\/h3>\r\n                        <\/a>\r\n                    <\/div>\r\n                                    <div class=\"col-lg-4 col-md-6\">\r\n                        <a href=\"#chapter-2\" class=\"chapter\">\r\n                            <div class=\"chapter-subtitle\">Chapter 3<\/div>\r\n                            <h3 class=\"chapter-title\">Creating transparency in the world of investments and retirement planning <\/h3>\r\n                        <\/a>\r\n                    <\/div>\r\n                                    <div class=\"col-lg-4 col-md-6\">\r\n                        <a href=\"#chapter-3\" class=\"chapter\">\r\n                            <div class=\"chapter-subtitle\">Chapter 4<\/div>\r\n                            <h3 class=\"chapter-title\">Don\u2019t Put Off Financial Planning<\/h3>\r\n                        <\/a>\r\n                    <\/div>\r\n                                    <div class=\"col-lg-4 col-md-6\">\r\n                        <a href=\"#chapter-4\" class=\"chapter\">\r\n                            <div class=\"chapter-subtitle\">Chapter 5<\/div>\r\n                            <h3 class=\"chapter-title\">The Basics Of Money Management<\/h3>\r\n                        <\/a>\r\n                    <\/div>\r\n                                    <div class=\"col-lg-4 col-md-6\">\r\n                        <a href=\"#chapter-5\" class=\"chapter\">\r\n                            <div class=\"chapter-subtitle\">Chapter 6<\/div>\r\n                            <h3 class=\"chapter-title\">Building Your Future<\/h3>\r\n                        <\/a>\r\n                    <\/div>\r\n                                    <div class=\"col-lg-4 col-md-6\">\r\n                        <a href=\"#chapter-6\" class=\"chapter\">\r\n                            <div class=\"chapter-subtitle\">Chapter 7<\/div>\r\n                            <h3 class=\"chapter-title\">What does financial freedom mean to you? <\/h3>\r\n                        <\/a>\r\n                    <\/div>\r\n                                    <div class=\"col-lg-4 col-md-6\">\r\n                        <a href=\"#chapter-7\" class=\"chapter\">\r\n                            <div class=\"chapter-subtitle\">Chapter 8<\/div>\r\n                            <h3 class=\"chapter-title\">How Subscription-Based Financial Planning Can Help Millennials Plan For Their Future<\/h3>\r\n                        <\/a>\r\n                    <\/div>\r\n                            <\/div>\r\n        <\/section>\r\n\r\n        <div class=\"chapters-info-w\">\r\n                            <section id=\"chapter-0\" class=\"chapters-info\">\r\n                    <header>\r\n                        <div class=\"chapter-subtitle\">Chapter 1<\/div>\r\n                        <h3 class=\"chapter-title\">Developing A Financial Plan<\/h3>\r\n                    <\/header>\r\n                    <div class=\"chapter-info-descr\"><p><span style=\"font-weight: 400;\">The purpose of developing a financial plan is to help you achieve your goals. These goals may include building good credit, <\/span><strong><a href=\"https:\/\/humanitywealth.com\/financial-planning\/why-buying-a-home-is-a-smart-investment-for-millennials\/\" target=\"_blank\" rel=\"noopener\">purchasing a home<\/a><\/strong><span style=\"font-weight: 400;\"><strong>,<\/strong> paying off student loan debt, starting a business, retiring early, etc. A financial plan is essentially a blueprint for how you will save, invest, and spend money so that your life aligns with your values and priorities.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/humanitywealth.com\/why-choose-us\/\" target=\"_blank\" rel=\"noopener\"><i><span style=\"font-weight: 400;\"><strong>A financial advisor in San Ramon and Newark can help you pursue financial independence one decision at a time.<\/strong><\/span><\/i><\/a><\/p>\n<p><span style=\"font-weight: 400;\">When creating a financial plan, determine what\u2019s truly important to you, as the examples touched on above. Once you become aware of and establish these goals, it\u2019s time to figure out a game plan to help you achieve each one and set benchmarks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As part of this process, keep in mind that even though it seems like having everything mapped out would be helpful for achieving success, some people find that having too much structure isn\u2019t always helpful. Having the framework is important, but staying flexible within your plan is key, as your financial priorities and goals will evolve with age, life events, and unstable economic conditions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your level of risk plays a significant role in the investment ballgame, which also changes throughout your life.<\/span><\/p>\n<h3><b>Here are a few great starting places to build financial literacy, something that most Americans lack (at no fault of their own).<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><a href=\"https:\/\/humanitywealth.com\/financial-planning\/4-ways-millennials-can-creatively-budget-to-fight-inflation\/\" target=\"_blank\" rel=\"noopener\">4 ways millennials can creatively budget to fight inflation<\/a><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Learn about long-term investing<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Learn about <\/span><strong><a href=\"https:\/\/humanitywealth.com\/financial-planning\/inflation-and-investing-why-a-financial-plan-matters\/\" target=\"_blank\" rel=\"noopener\">inflation and investing<\/a><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Learn <\/span><strong><a href=\"https:\/\/humanitywealth.com\/financial-planning\/financial-literacy-101-how-to-build-credit-and-why-its-important\/\" target=\"_blank\" rel=\"noopener\">how to build credit<\/a><\/strong><\/li>\n<\/ul>\n<\/div>\r\n                <\/section>\r\n                            <section id=\"chapter-1\" class=\"chapters-info\">\r\n                    <header>\r\n                        <div class=\"chapter-subtitle\">Chapter 2<\/div>\r\n                        <h3 class=\"chapter-title\">Why You Should Start Planning For Retirement Now<\/h3>\r\n                    <\/header>\r\n                    <div class=\"chapter-info-descr\"><p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2138 alignright\" src=\"https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/subscription-based-financial-planning-San-Ramon-humanitywealth.com_-500x333.jpeg\" alt=\"\" width=\"281\" height=\"187\" srcset=\"https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/subscription-based-financial-planning-San-Ramon-humanitywealth.com_-500x333.jpeg 500w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/subscription-based-financial-planning-San-Ramon-humanitywealth.com_-768x512.jpeg 768w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/subscription-based-financial-planning-San-Ramon-humanitywealth.com_.jpeg 800w\" sizes=\"(max-width: 281px) 100vw, 281px\" \/>When you think about retirement, it might seem like a far-off concept that doesn&#8217;t apply now; therefore doesn\u2019t need to be taken seriously. However, retirement planning is important for all ages\u2014even millennials. In fact, the sooner you start saving for retirement, the better off you and your family can be.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In order to make saving for retirement easier and more effective, consider using an affordable financial advisor in the Bay Area who can help guide you through the process of setting aside money for your golden years. This is an option for all ages, which can be afforded for only <\/span><strong><a href=\"https:\/\/humanitywealth.com\/financial-planning\/subscription-based-financial-planning-for-all-ages\/\" target=\"_blank\" rel=\"noopener\">$50 per month via subscription-based financial planning in San Ramon and beyond<\/a><\/strong><span style=\"font-weight: 400;\"><strong>.<\/strong>\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whatever financial advice you need, you have it. For example, your financial advisor can help determine which investments make sense for you based on your risk tolerance and time horizon.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Start planning for your future by considering what kind of lifestyle changes would make sense after exiting the workforce:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">At what age do you plan to retire?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Where might you want to retire?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What do you imagine your lifestyle will be like?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Will you have children and possibly grandchildren to consider?<\/span><\/li>\n<\/ul>\n<\/div>\r\n                <\/section>\r\n                            <section id=\"chapter-2\" class=\"chapters-info\">\r\n                    <header>\r\n                        <div class=\"chapter-subtitle\">Chapter 3<\/div>\r\n                        <h3 class=\"chapter-title\">Creating transparency in the world of investments and retirement planning <\/h3>\r\n                    <\/header>\r\n                    <div class=\"chapter-info-descr\"><p><span style=\"font-weight: 400;\">It\u2019s important to know what to expect without fearing the worst. However, what\u2019s expected is not predictable, so having a financial plan that equates to all economic scenarios is essential.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A harsh reality is that <\/span><strong><a href=\"https:\/\/www.nytimes.com\/interactive\/2022\/07\/11\/style\/economic-anxiety-millennials.html\" target=\"_blank\" rel=\"noopener\">millennials are facing economic anxiety and speaking up about their fears around money<\/a><\/strong><span style=\"font-weight: 400;\"><strong>.<\/strong> If you are living paycheck to paycheck yet remain skeptical of saving and investing, it\u2019s time to flip that switch. The surprising news, <\/span><strong><a href=\"https:\/\/www.cnn.com\/2022\/04\/27\/investing\/retirement-millennials-boomers-saving-more\/index.html\" target=\"_blank\" rel=\"noopener\">according to Charles Schwab<\/a><\/strong><span style=\"font-weight: 400;\">, is that millennials are ahead of their parents (Baby Boomers) when it comes to saving for retirement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the increased saving could be because millennials do not expect to receive employer-sponsored pension plans in retirement. According to the Bureau of Labor Statistics, 84% of full-time workers at large companies participated in a pension plan in 1981; that percentage dropped to only 28% by 2020.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Baby boomers have claimed to feel a sense of ease knowing that their retirement was taken care of. However, according to the National Institute on Retirement Security, around 72% of millennials are pessimistic about obtaining financial security during retirement, versus the 43% of boomers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This tells us that saving at an earlier age hasn&#8217;t done much to ease retirement anxiety, but it reduces the risk of not being well-equipped to handle the lifestyle you want and deserve when that time comes. And, having a financial advisor in Newark or San Ramon can help you feel more confident in your financial endeavors.\u00a0<\/span><\/p>\n<\/div>\r\n                <\/section>\r\n                            <section id=\"chapter-3\" class=\"chapters-info\">\r\n                    <header>\r\n                        <div class=\"chapter-subtitle\">Chapter 4<\/div>\r\n                        <h3 class=\"chapter-title\">Don\u2019t Put Off Financial Planning<\/h3>\r\n                    <\/header>\r\n                    <div class=\"chapter-info-descr\"><p><i><span style=\"font-weight: 400;\">\u201cDon\u2019t put off to tomorrow, what can be done today!\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2139 alignleft\" src=\"https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-advisor-bay-area-humanitywealth.com_-500x334.jpeg\" alt=\"\" width=\"217\" height=\"145\" srcset=\"https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-advisor-bay-area-humanitywealth.com_-500x334.jpeg 500w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-advisor-bay-area-humanitywealth.com_-768x513.jpeg 768w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-advisor-bay-area-humanitywealth.com_.jpeg 800w\" sizes=\"(max-width: 217px) 100vw, 217px\" \/>Financial planning and investment selection can feel overwhelming, which is why many younger people put it on the back burner, but that won\u2019t get them ahead in life. Hiring a wealth management financial advisor in San Ramon can be all the help you need to step it up to the next level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yes, there is a vast amount of investment information out there, but lucky for you, Humanity Wealth Advisors specializes in this arena. The tasks that you then need to complete to stay financially well, are simplified and guided to help you make smarter decisions.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/info.humanitywealth.com\/subscription-based-financial-planning\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"><strong>Opt-in for subscription-based financial planning in Newark and other locations<\/strong><\/span><\/a><span style=\"font-weight: 400;\"><strong>;<\/strong> this could be your best financial decision yet.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<\/div>\r\n                <\/section>\r\n                            <section id=\"chapter-4\" class=\"chapters-info\">\r\n                    <header>\r\n                        <div class=\"chapter-subtitle\">Chapter 5<\/div>\r\n                        <h3 class=\"chapter-title\">The Basics Of Money Management<\/h3>\r\n                    <\/header>\r\n                    <div class=\"chapter-info-descr\"><p><span style=\"font-weight: 400;\">One of the first things to understand about financial planning is that it\u2019s not an end goal. It\u2019s a journey, and you must constantly work toward greater financial stability. There are some basic principles every person should follow. Here are the basics that our financial advisory firm in San Ramon recommends:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Spend less than you earn.<\/i><\/b><span style=\"font-weight: 400;\"> It sounds obvious, but many people struggle with this concept for years before realizing how important it is! If your income doesn&#8217;t match up with what comes out of your bank account each month\u2014if there&#8217;s always something owed\u2014then it can be difficult to build up savings or pay down debt (which brings us to our next point).\u00a0<\/span><\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/info.humanitywealth.com\/free-budget-reconciliation-worksheet\" target=\"_blank\" rel=\"noopener\">Use this free budget worksheet to plan wisely<\/a>.<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Avoid credit card debt at all costs.<\/i><\/b><span style=\"font-weight: 400;\"> This includes avoiding cash advances on credit cards as well as store credit cards with high-interest rates and low limits. Credit cards may seem like an easy way out when times get tough. However, they can damage your long-term financial health if used improperly and cause additional stress while they&#8217;re being paid off down the line.<\/span><\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/info.humanitywealth.com\/free-offer-financial-independence\" target=\"_blank\" rel=\"noopener\">Download our free financial checklist to get on track, starting today.<\/a><\/strong><\/p>\n<\/div>\r\n                <\/section>\r\n                            <section id=\"chapter-5\" class=\"chapters-info\">\r\n                    <header>\r\n                        <div class=\"chapter-subtitle\">Chapter 6<\/div>\r\n                        <h3 class=\"chapter-title\">Building Your Future<\/h3>\r\n                    <\/header>\r\n                    <div class=\"chapter-info-descr\"><p><span style=\"font-weight: 400;\">Have you defined your future plans, or at least have hopes, and talk about them frequently? Some of the major life milestones are huge events that spark people to get financial advice from a professional. These are common goals that should nudge you to seek help in building a stronger foundation for your future:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Buying or financing a car<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Owning a home<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Getting married and combining finances<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Selecting insurance<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><a href=\"https:\/\/humanitywealth.com\/financial-literacy\/setting-a-financial-example-for-your-children\/\" target=\"_blank\" rel=\"noopener\">Having children and setting good financial examples<\/a><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Saving for college\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Investing carefully<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Saving for retirement<\/span><\/li>\n<\/ul>\n<\/div>\r\n                <\/section>\r\n                            <section id=\"chapter-6\" class=\"chapters-info\">\r\n                    <header>\r\n                        <div class=\"chapter-subtitle\">Chapter 7<\/div>\r\n                        <h3 class=\"chapter-title\">What does financial freedom mean to you? <\/h3>\r\n                    <\/header>\r\n                    <div class=\"chapter-info-descr\"><p><span style=\"font-weight: 400;\">The definition of financial freedom will vary from person to person. Millennials have emphasized becoming financially free with the <\/span><strong><a href=\"https:\/\/www.businessinsider.com\/personal-finance\/what-is-fatfire-vs-leanfire-early-retirement-fire\" target=\"_blank\" rel=\"noopener\">FIRE movement<\/a><\/strong><span style=\"font-weight: 400;\"><strong>.<\/strong> Why? Because they want the freedom to make choices without stressing over money and want to spend on things that bring them joy versus binding them into a hamster wheel chase of working to pay down debt.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">FIRE stands for financial independence\/retire early<\/span><\/i><span style=\"font-weight: 400;\">, which is usually broken down into three categories: FIRE, Lean FIRE, Fat FIRE, and recently added, Coast FIRE.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2136 alignright\" src=\"https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-planning-humanitywealth.com_-500x334.jpeg\" alt=\"\" width=\"264\" height=\"177\" srcset=\"https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-planning-humanitywealth.com_-500x334.jpeg 500w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-planning-humanitywealth.com_-1400x935.jpeg 1400w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-planning-humanitywealth.com_-768x513.jpeg 768w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-planning-humanitywealth.com_-1536x1025.jpeg 1536w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-planning-humanitywealth.com_-2048x1367.jpeg 2048w, https:\/\/humanitywealth.com\/wp-content\/uploads\/2022\/11\/affordable-financial-planning-humanitywealth.com_-1600x1068.jpeg 1600w\" sizes=\"(max-width: 264px) 100vw, 264px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Lean FIRE<\/i><\/b><span style=\"font-weight: 400;\">: saves up 25x annual expenses and lives on a &#8220;lean&#8221; budget (spends less than the average American at around $60,000 annually).\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Fat FIRE<\/i><\/b><span style=\"font-weight: 400;\">: spends more than the average American and can afford greater protection, flexibility, and freedom during early retirement.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Coast FIRE<\/i><\/b><span style=\"font-weight: 400;\">: saves a target number by a specific age, then stops saving and lets compounding gains &#8220;coast&#8221; to an ultimate target retirement nest egg.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you feel constrained by your finances, let\u2019s explore a method that works best for you. Don\u2019t let anyone else dictate how and when you spend\u2014simply have a plan to abide by that you fully comprehend and appreciate.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To Humanity Wealth Advisors, we believe financial freedom means being able to pursue a passion without worrying about whether or not it will pay off. It means being able to work for yourself, doing what you love, or making money work for you.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Financial independence can help you check off the list:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\"><span style=\"font-weight: 400;\">Paying off unhealthy debts: student loans, credit cards, or personal loans<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\"><span style=\"font-weight: 400;\">Raising a family and putting kids through school\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\"><span style=\"font-weight: 400;\">Paying off a home<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\"><span style=\"font-weight: 400;\">Starting a business\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\"><span style=\"font-weight: 400;\">Traveling the world<\/span><\/li>\n<\/ul>\n<\/div>\r\n                <\/section>\r\n                            <section id=\"chapter-7\" class=\"chapters-info\">\r\n                    <header>\r\n                        <div class=\"chapter-subtitle\">Chapter 8<\/div>\r\n                        <h3 class=\"chapter-title\">How Subscription-Based Financial Planning Can Help Millennials Plan For Their Future<\/h3>\r\n                    <\/header>\r\n                    <div class=\"chapter-info-descr\"><ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The subscription-based financial planning model is a great option for millennials looking for:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The convenience of being able to talk with a professional financial advisor whenever they need it<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customized advice that&#8217;s personalized to their unique situation and goals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A single point of contact to help them navigate their finances in the future versus having to work with multiple advisors at different companies.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.investopedia.com\/articles\/personal-finance\/112015\/these-10-habits-will-help-you-reach-financial-freedom.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"><strong>New ways to reach financial freedom<\/strong><\/span><\/a><\/li>\n<\/ul>\n<h3><\/h3>\n<\/li>\n<\/ul>\n<h3><\/h3>\n<p>&nbsp;<\/p>\n<h3><b>Financial advisors offer more than just retirement planning. Financial support at Humanity Wealth covers all the bases:<\/b><\/h3>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Tax planning<\/i><\/b><span style=\"font-weight: 400;\">: Aim to minimize your taxes and maximize your savings.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Estate planning<\/i><\/b><span style=\"font-weight: 400;\">: Create a plan for how to distribute your assets once you pass away, including whether or not to leave money to charity and what sort of charitable giving would be most beneficial.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Insurance<\/i><\/b><span style=\"font-weight: 400;\">: Ensure that your coverage is up-to-date so that if something happens, funds are available to pay off any debts or provide for loved ones who depend on you financially. This can include life, disability, car insurance, and even homeowner&#8217;s association dues.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Investments<\/i><\/b><span style=\"font-weight: 400;\">: Invest in stocks, bonds, mutual funds, real estate, and other investment vehicles based on your risk appetite.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><i>Education planning<\/i><\/b><span style=\"font-weight: 400;\">: Make sure you have enough funds for higher education.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: center;\"><b>Subscription-based financial planning is a model that makes sense for millennials. <\/b><a href=\"https:\/\/humanitywealth.com\/subscription-based-financial-planning\/subscription-based-financial-planning-the-future-of-personal-finance\/\"><b>It\u2019s simply the way of the future.<\/b><\/a><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Subscription-based financial planning at Humanity can help you <\/span><strong><a href=\"https:\/\/humanitywealth.com\/subscription-based-financial-planning\/the-rise-of-subscription-based-financial-planning-for-millennials-how-to-help-improve-your-financial-well-being-one-month-at-a-time\/\" target=\"_blank\" rel=\"noopener\">up-level your financial fitness<\/a><\/strong><span style=\"font-weight: 400;\"> for a flat fee each month. Consider what you pay for a subscription or app you don\u2019t even use. If you want a professional on your team that has your back, opt-in for this service \u2013 <\/span><strong><a href=\"https:\/\/humanitywealth.com\/financial-planning\/fee-for-service-financial-planning-for-diyers-and-newbies\/\" target=\"_blank\" rel=\"noopener\">perfect for beginners or DIYers<\/a>.<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Financial planning isn\u2019t easy. Developing the skills needed to plan for your future takes time and patience. But as you can see, there are many benefits to having a financial plan in place. The best thing you can do is start today!<\/span><\/p>\n<\/div>\r\n                <\/section>\r\n                    <\/div>\r\n\r\n    <\/div>\r\n\r\n\r\n[\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<em><span style=\"font-weight: 300;\">Humanity Wealth Advisors and LPL Financial do not provide legal advice or tax services. Please consult your legal advisor or tax advisor regarding your specific situation. The LPL Financial registered representatives associated with this website may only discuss and\/or transact business with residents of the following states: AZ, CA, CO, HI, ID, MA, MN, NC, NV, OR, and TX.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 300;\">*This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. The insurance related content in this article is intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims paying ability of the issuing company. If you need more information or would like personal advice you should consult an insurance professional. You may also visit your state\u2019s insurance department for more information. Riders are additional guarantee options that are available to an annuity or life insurance contract holder. While some riders are part of an existing contract, many others may carry additional fees, charges and restrictions, and the policy holder should review their contract carefully before purchasing.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 300;\">The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All investing involves risk including loss of principal. No strategy assures success or protects against loss.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 300;\">*While we offer an advisory based, fee-only option, there may be times that we discuss, or I recommend, a product that is suitable for your situation, in which I may receive a commission.<\/span><\/em>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]It\u2019s no secret that the financial landscape is evolving, and millennials aren\u2019t the only demographic affected by the changes. Even with easier access to subscription-based financial planning and Robo advisors, financial planning and wealth management [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":2137,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financial Planning for Millennials in the Bay Area - Humanity Wealth Advisors<\/title>\n<meta name=\"description\" content=\"Start financial planning in San Ramon and Newark through subscription-based financial planning to better plan for your future and financial freedom.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/humanitywealth.com\/financial-planning-for-millennials-in-the-bay-area\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Planning for Millennials in the Bay Area - 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