Millennial FP
Fee-only financial planning for millennial families, served by a CFP® professional.
25/07/2023
What’s your credit score?
An exceptional credit score can provide the ultimate optionality in your financial life.
It’s a uniform way to let lenders know how creditworthy you are without having to pry for a bunch of information.
But there are so many myths about credit scores that are just dead wrong:
1️⃣Maintaining a balance on your credit cards will improve your credit score.
2️⃣Checking your credit report will hurt your score.
3️⃣Once a credit score is bad, it can never be rebuilt.
4️⃣Paying off your mortgage or car loan will increase your credit score.
5️⃣Your income impacts your credit score.
Improving your credit score boils down to a few things:
1. Pay your bills on time and in full.
2. Don’t take out too much debt.
3. Keep accounts open when you can (without annual fees).
4. Have a variety of credit types.
5. Don’t apply for new loans/credit cards that often.
Repeat, repeat, repeat and you’ll be in the exceptional category in no time!
12/07/2023
A financial planner is like a GPS with your ideal life set as the destination.
We give your family a roadmap, and constantly make adjustments as detours and destinations change as life evolves.
Gone are the days of an investment or insurance salesman in a suit convincing you to buy something you don’t need. The advice model for our generation is all about truly understanding what you want out of life, and offering pure advice on how to get there.
27/06/2023
DYK? Your employer-provided disability coverage is probably way less than you think.
12/06/2023
I’ve seen every method from my clients. Which one do you prefer and why? Comment below 👇
05/06/2023
“Compound interest is the eighth wonder of the world. He who understands it, earns it.. he who doesn’t.. pays it.” - Albert Einstein
Who needs a secret offshore account in the Cayman Islands when you can just have an HSA? It’s THE most tax-friendly account for a young family, if used the right way.📈
Check out MillennialFP.com for more tips ✍️
When your income is too high, the only way into the Roth IRA club is through the backdoor.
Note: there will be extra tax documents so please consult a tax professional!
What’s your life insurance gap? Don’t get sold a policy with all of the unnecessary (and expensive) bells and whistles. Keep it simple!
529 plans: another case of financial jargon that we’re “supposed” to know about…
But most millennial families with young children don’t know precisely how they work.
Here’s a breakdown of 529 plan basics!
The next investment move: what a millennial family should invest in when they have plenty of cash in the bank!
Here’s a topic that impacts more young families than we care to admit: credit card debt 🫠
It doesn’t discriminate either. Even high-earning families can be bogged down by it!
Here are 3️⃣ ways to pay off that pesky credit card debt once and for all, so you can start to focus on aligning your 💵 with what’s important to your family!
28/03/2023
We had a chance to talk to Wendy Rodgers at the Beavercreek, OH Chamber of Commerce about financial planning for young families today! We're so grateful to be able to use the resources that the chamber provides to members- including a brand-new media room!
We recently had the opportunity to interview Jake Courtney about his financial advising business, MillennialFP.
Click the link below to watch the interview, then visit www.millennialfp.com to connect with Jake!
https://youtu.be/HvWMz0mb9wo
"Should I Invest in a Roth IRA?"
The answer: It depends! We break down what exactly a Roth IRA is, the limitations of Roth IRA contributions, and when a Roth IRA makes sense for a millennial family.
20/03/2023
Here's our latest blog post - how to plan for a home upgrade! In this video, we walk through the process at a high level with a familiar couple that's outgrowing their first home. Check it out!
How to Plan for a Home Upgrade - MillennialFP Is your first home getting a little cramped as your family is growing? You're not alone - many young families are looking to upgrade to a new (larger) home now that their income is higher than it's ever been.
Videos (show all)
