If you ask many members of the Baby Boomer or Generation X generation about the Millennials, you might get an answer about how lazy and incompetent these twenty and thirty-somethings are. Their elders think of them as entitled, lazy, and capable of part-time employment at best. Instead of work, these younger members of society excel better at playing video games all day or spending too much time on social media. As cruel as that broad assumption might sound, it does have the smallest element of truth to it. Studies have shown Millennials are behind other generations when it comes to navigating the adult world around them. To learn what they need to know and to forge independent lives for themselves, many of them are relying on a Millennial life coach to guide them.
In reality, these so-called coaches specialize in teaching people in their 20s and 30s multitudes of tasks associated with living independently. For starters, they teach the finer points of handling money. Studies have shown that Millennials struggle with everything from managing a checkbook to paying bills on time. Their coaches provide them with the foundation of solid money management so they can become independent adults.
Likewise, they find out the finer points of balancing checkbooks for accounts to which they may pay little attention. They may not realize they get cash back rewards, for example. They also might not realize they accrue interest on deposits they make in their banks every month. They figure out when to pay rent from their paychecks and what paychecks to use to pay for other bills like their gas and electricity each month.
Saving money can be particular important for Millennials. They are statistically behind Generation X when it comes to putting up savings for retirement or emergency purposes. Moreover, the concept of saving 10 percent of what they earn is entirely foreign to many of them. Coaches instruct them on the finer points of saving cash.
One of the tasks they may have to accomplish during their coaching involves opening a retirement savings account. This could be a 401k, Roth IRA, or another tax-exempt account. They then are instructed to put ten percent of whatever they earn each pay period into that account. They are told the money will come in useful for emergencies like car repairs, medical expenses, or retirement later.
Millennials are also statistically behind other generations when it comes to investing. Many of them are not aware of the finer points of investing. They are too afraid to venture into the stock market simply because they do not know what it takes to open an investment account.
In fact, websites exist where you can open your own account for mere dollars down. Once these accounts are open, you have the leeway to trade and buy stocks at your leisure. You also get access to commodities, bonds, and CDs once you accrue enough money.
Navigating adult society is sometimes trickier than it looks for people of the Millennial generation. They grew up without many important life lessons at their disposal. They are just learning about them now by hiring a life coach who guides them through basic lessons in adulthood.
In reality, these so-called coaches specialize in teaching people in their 20s and 30s multitudes of tasks associated with living independently. For starters, they teach the finer points of handling money. Studies have shown that Millennials struggle with everything from managing a checkbook to paying bills on time. Their coaches provide them with the foundation of solid money management so they can become independent adults.
Likewise, they find out the finer points of balancing checkbooks for accounts to which they may pay little attention. They may not realize they get cash back rewards, for example. They also might not realize they accrue interest on deposits they make in their banks every month. They figure out when to pay rent from their paychecks and what paychecks to use to pay for other bills like their gas and electricity each month.
Saving money can be particular important for Millennials. They are statistically behind Generation X when it comes to putting up savings for retirement or emergency purposes. Moreover, the concept of saving 10 percent of what they earn is entirely foreign to many of them. Coaches instruct them on the finer points of saving cash.
One of the tasks they may have to accomplish during their coaching involves opening a retirement savings account. This could be a 401k, Roth IRA, or another tax-exempt account. They then are instructed to put ten percent of whatever they earn each pay period into that account. They are told the money will come in useful for emergencies like car repairs, medical expenses, or retirement later.
Millennials are also statistically behind other generations when it comes to investing. Many of them are not aware of the finer points of investing. They are too afraid to venture into the stock market simply because they do not know what it takes to open an investment account.
In fact, websites exist where you can open your own account for mere dollars down. Once these accounts are open, you have the leeway to trade and buy stocks at your leisure. You also get access to commodities, bonds, and CDs once you accrue enough money.
Navigating adult society is sometimes trickier than it looks for people of the Millennial generation. They grew up without many important life lessons at their disposal. They are just learning about them now by hiring a life coach who guides them through basic lessons in adulthood.
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Get a summary of the things to consider when picking a life coach and more information about a knowledgeable millennial life coach at http://www.guidinglifecoaching.com/about now.
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