Saving for retirement can be hard to imagine at a young age.
Committing to a structured savings plan early in life will set people up for flexibility and financial freedom, according to Steve Short and Mark Schlipman, co-authors of “The Simple Road Toward Financial Freedom: A Guide To Helping Young Adults Build Wealth.”
Short said setting yourself up for success can be challenging because many people aren’t taught how to manage money.
“We teach math and science and all that, but not personal finance,” Short said.
Schlipman, a financial advisor, said he commonly hears from clients who wish they would have started saving earlier — although he says it’s not necessary to actually hire a financial manager to do that.
“If it goes into a savings account, into a CD, then you finally graduate and learn about the Roth IRA… have that habit built in, and then worry about where you’re going to delegate funds,” Schlipman said.
At this year’s TEDxKC conference on Friday, July 24, Schlipman and Short will discuss a savings system that can help young people achieve financial freedom without cutting out the simple pleasures in life, like coffee and travel.
TEDxKC: The Future of Being Human After All, 4:30 p.m. Friday, July 24 at the Kauffman Center for the Performing Arts, 1601 Broadway Blvd., Kansas City, Missouri 64108. Ticket required for the event.
- Mark Schlipman, financial advisor and author, “The Simple Road Toward Financial Freedom: A Guide To Helping Young Adults Build Wealth”
- Steve Short, author, “The Simple Road Toward Financial Freedom: A Guide To Helping Young Adults Build Wealth”
