Financial Planning Advice for Your 20s and 30s

When Anne McCabe Triana came into my life I had some serious money questions. I always knew I should be planning for the future but when cash-strapped in my early 20s and starting a business in my 30s, there wasn't ever a whole lot of extra money lying around to invest. Earlier this year she gave the hubby and me some solid advice on when, how, and where to invest and save so that our future is protected for ourselves and our kiddo.

And she was ever so grateful to agree for me to return to her office and ask some questions for YOU!

So if you've ever felt funny about money, found yourself thinking about - but not taking action on - planning for the future, or even wonder what it's like to run a successful small business as a female in a male-oriented field, take 5 minutes to watch!

Key Takeaways

  • Financial planning is like a navigation system: it’s taking a snapshot of where you are holistically, doing goal setting, and building a roadmap to get you from point A to point B. We put a plan in place – life and markets happen – and financial planners help to redirect you.
  • Success didn't happen over night. Over the course of the first 3 years Anne wanted to quit many times. She didn’t really know what she was doing and had to build my business from scratch, which was intimidating!
  • At first she tried to fit in with the good old boys. Anne shared that she picked up golf when she first got into the business because that’s what everybody did. She didn’t embrace the things she actually liked such as fashion or femininity.
  • Starting early allows you to save less at a time for a higher return in the long run. If you look at numbers, and you start saving at 20 or 25 vs. 30 or 35, you can easily at the end of the day end up saving hundreds of thousands of extra dollars when you go to retire. And this doesn’t require investing a thousand dollars a month. The earlier you start, the smaller you can start and the more powerful it is over the long run.
  • Take advantage of free money! 401K plans with a match is free money. Start there. If you don’t take advantage of this you’re leaving free money on the table.
  • Simple yet powerful negotiation tip: pretend like you are negotiating on behalf of someone you love. Think of what you could do for this person with the additional money. Manifest the negotiation like you wanted to do something for this person.
  • Some of the best advice Anne's received: Stop spending all of your day reading and trying to learn everything about the business. Spend your day going out and bringing in clients. As you bring in clients you’ll learn different aspects of the business. If you don't get out there, you won't learn and you probably won't be employed for very long.