For generations, 18- to 35-year-olds have faced the challenge of finding the funds to contribute to their financial planning. Today, many millennials walk away from college strapped with huge amounts of debt. Thanks to rising health care prices, saving to start a family and other financial obligations, it can be extremely difficult to jump into the world of financial planning as a millennial. Investors Associated, LLP (IA) is helping curb this difficulty.
IA works with millennials to plan for their financial futures, but not by investing in the stock market. Alternatively, money is invested and grows within the real estate arena.
“Last year, with millennials and Generation X in mind, we created our Young Professionals Program, which allows younger individuals and/or couples to become Partners in our real estate portfolio with smaller investments stretched out over a period of time,” says Jamie Stefan, VP of Investor Relations and Operations at Investors Associated, LLP.
Generally, to enter this type of partnership, investors are required to input upwards of $100,000, an unrealistic amount for the vast majority of millennials. The Young Professionals Program offers young people the opportunity to join for just a tenth of that cost, spreading the lump sum out over multiple years.
Because of this opportunity, says Stefan, “They are able to gain access to a different type of investment that will grow along with them in the coming years as part of the financial planning. It will help them diversify their portfolio and assist in their financial planning.”
Stefan says that for millennials, early planning with expert advice is key to succeeding in the long-term financial planning game. Because millennials are such a diverse group, there is no one answer for how they should plan. For some, student loans may be the current priority, leading to small but steady contributions.
Whatever a millennial’s current financial situation may be, IA can help steer their financial plan in the direction of success.