'Millennials': Strategies for Financial Planning with a New Generation

Johnson, Scott D.; Larson, Stephen J.
May 2009
Journal of Financial Planning;May2009, Vol. 22 Issue 5, p65
Academic Journal
The article discusses financial planning strategies that the author feels financial advisors should use in order to assist people who were born in the 1980s and 1990s, otherwise known as the Millennial generation. A survey that discusses various topics including how Millennials hire a financial planner, their perception of fee-only and commissioned financial planners and how they prefer to interact with financial planners is discussed. Recommendations are provided regarding steps that financial planners can take when they have Millennial clients, including to become involved with professional organizations and to be sensitive when discussing the prices of financial services.


Related Articles

  • Faster, Better, Cheaper. Rosato, Donna; Wang, Penelope; Poppick, Susie // Money;Jul2011, Vol. 40 Issue 6, p52 

    The article reports on ways to save money and build wealth in order to prepare for retirement. Tips include paying off debt, balancing stock portfolios and using professional financial planners to save money on taxes while growing investments. If selling a home, money can be saved by not using a...

  • STAT BANK.  // Journal of Financial Planning;Jun2007, Vol. 20 Issue 6, p14 

    The article presents statistics about financial planning. According to the United States Census Bureau, women's earning increased 25% between 1990 and 2003, compared to less than ten percent for men. Nearly one-fifth of eligible 401(k) participants have outstanding loans from their accounts,...

  • Retirement education in the workplace. Krajnak, Patricia A.; Burns, Sharon A.; Natchek, Sally M. // Financial Services Review;Summer2008, Vol. 17 Issue 2, p131 

    In recent years, households have been expected to take more responsibility with respect to personal financial decisions. Workplace financial education is viewed as a means to help employees deal with the increasingly complex financial choices they face. This article provides an overview of...

  • your money! Banay, Sophia; Nolan, Clancy // Glamour;Sep2009, Vol. 107 Issue 9, p268 

    This article focuses on personal finance. The article explains that one must create a budget, start saving for retirement, creating a system for saving, and getting out of debt. Topics include investing, discerning between good and bad debt, fixed expenses, living expenses, and the stock and...

  • In Search of the Magic Number. Miller, Mark // REP.;Mar2013, Vol. 37 Issue 3, p60 

    The article discusses the safe withdrawal rate in retirement in the U.S. It notes that the expected answer, which has been four percent, adjusted annually for inflation, has been reconsidered by a growing number of financial planning experts. According to a research by Morningstar, an initial...

  • A SPREADSHEET FOR CALCULATING INCOME REPLACEMENT RATIO. Tezel, Ahmet // Journal of Personal Finance;2007, Vol. 6 Issue 2/3, p76 

    It is widely accepted to calculate income replacement ratios for measuring how much wealth is needed at retirement and for assessing retirement readiness of individuals. This paper presents a model to estimate income replacement ratios under a variety of savings rate assumptions and other...

  • 'Riches is money….  // Finweek;3/9/2006, p55 

    This article offers advice on wealth creation and preservation. Creating and maintaining wealth are two different phases of life. While a small number of people do not have to create wealth, all have to manage it. Time is the greatest ally in creating wealth. The opposite of qualities required...

  • Lessons About Best Interests Duty. Bruhn, Aaron; Miller, Michael // Australasian Accounting Business & Finance Journal;2014, Vol. 8 Issue 4, p23 

    Financial advice is essentially a credence good, whose value is hard to assess. Yet in the Australian context the need for quality advice is growing, with self-sufficiency a growing trend and individuals facing significant complexity in their financial affairs. Recent regulatory proposals and...

  • Retirement Account Options When Beginning a Career. Geisler, Gregory G.; Stern, Jerrold J. // Journal of Financial Service Professionals;May2014, Vol. 68 Issue 3, p45 

    When college graduates begin their careers, they face a number of financial choices and obligations. Their choices typically include one or more retirement account options. The options generally include individual retirement accounts (IRAs) (Roth and/or traditional), 401(k) plans (Roth and/or...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics