Dawn Bennett - A Priority on Financial Planning for Young People

Dawn Bennett of Bennett Group Financial Services knows that long-term financial security is more likely when you start young. Though planning during every phase of life is important, prioritizing savings and investment in your twenties can lead to a sustainable retirement. There are a variety of steps that will help young people begin their financial planning on the right foot, such as the following.

• No matter what your financial circumstances are, save as much as you can.  Even if it’s just ten dollars per month, always save something. Deciding to make it a priority and developing the habit is crucial.
• Develop a goal. As your income begins to increase, create long-term goals regarding how much you would like to have saved in the next ten, twenty, thirty years, and beyond. How will you get there? What kind of decisions will you have to make to ensure that you’ll be successful?
• Start investing early by creating a diversified portfolio. Though it can seem intimidating at first, a basic amount of research or guidance from an investment professional can help you feel ready to make informed decisions. While putting money at risk can seem terrifying, especially if you don’t have much, you lose the opportunity to make huge financial gains over time without any extra effort on your part.

Dawn Bennett is the host of the national radio show “Financial Myth Busting.” She is also the owner of DJ Bennett, a prominent line of luxury sporting goods for athletes and adventurers.

Sources: http://www.forbes.com/sites/mitchelltuchman/2013/12/11/financial-planning-in-your-20s/#22f75e815ede