What: When a person is young, in high school or college, they aren’t necessarily thinking about retirement. But a young age is exactly when people should start considering their financial futures. No one wants to be 75 and still working due to poor financial planning. Start brainstorming about your future during Financial Planning Week, Oct. 7-13.
Background: Saving for retirement isn’t something that is on the forefront of everyone’s mind, but is very important when considering the future. According to the National Association of Personal Financial Advisors (NAPFA), 40 percent of U.S. adults are saving less than in 2011. Financial planning may not sound like the most exciting thing, but it is definitely an important step in planning for the future.
Story Pitch: A number of groups and organizations can pitch around Financial Planning Week. Banking establishments would do well to encourage early financial planning for everyone, including youth and college students who may not have planning for their financial future at the top of their mind. In addition, accountants may want to encourage their clients to begin saving now for the future, while promoting their services. Certified financial planners can also encourage clients to come in for a meeting to discuss finances, planning and goals for their future finances.
Story Hook: The NAPFA reported that 56 percent of U.S. adults do not have a budget. Meanwhile, 39 percent of U.S. adults have no non-retirement savings. Consider the following when you make your pitch:
- At what age should people begin financially planning for their future?
- Is it necessary to seek out a financial advisor or can financial planning be done on your own?
- How often should you meet with an accountant or financial advisor?
- What are some ways that a younger crowd can begin preparing for their futures in terms of finances?
Tips: A certified financial planner who deals with managing clients and finances daily would have great insight on how to smartly plan for the future. In addition, someone who has retired comfortably due to smart financial planning would have good advice on early planning.
Association for Financial Counseling and Planning Education
Financial Planning Association
National Association of Insurance and Financial Advisors
National Association of Personal Financial Advisors
National Endowment for Financial Education
Event Dates from CHASE’S Calendar of Events