Welcome back to Don’t Retire… Graduate! As part of our summer throwback series, we’re bringing back some of our favorite episodes from seasons passed.
Today, we’re welcoming back our very own Yanni Niebuhr, CFP®, Chief Investment Officer here at BFG Financial Advisors. Originally released way back in our first season, this episode is still as relevant as ever and covers the financial planning from the perspectives of the Millennial and Gen X generations, and how people are planning differently about the next chapter of their lives. And please join us in congratulating our guest, who, in the time since this episode was recorded, welcomed his second baby boy!
In this episode we’ll talk about:
- How retirement planning is a marathon, not a sprint, and why planning should start early
- How Yanni, a Towson University grad, got his start in financial planning and what he wants to be when he grows up
- The sandwich generation and multigenerational financial planning
- How millennials and adults in their twenties or thirties can be doing to prepare for retirement
- The average debt and student loans for recent grads and how it can hurt your financial independence
- Deciding what your financial priority should be
- Legacy planning and leaving behind things more important than money – freedom, independence, vision, values
- Talking about money within families and how views can vary with your parents, spouse, or grandparents
- Side hustles and how they’re impacting the idea of FIRE (financially independent retire early)
- Entrepreneurship and small business self-employment and how it can help you pursue your passions
- Social awareness and the importance it holds with younger generations
- Pensions, three-legged stools, social security and other antiquated retirement ideas being replaced by “you’re on your own”
- Living in two-income society vs older generations able to live on a single income
- Transferring wealth between generations, to children and grandchildren, in tax-efficient ways through life insurance, trusts, and 529 College Savings Plans without creating a Billy Madison situation
- Unemployment and underemployment, and the shrinking value of college degrees
Visit dontretiregraduate.com for a full transcript of this episode.
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