The Millennials are a generation that is synonymous with incompetency and laziness. Many people from the Baby Booomer and Generation X generations believe Millennials to be so ill-equipped to handle everyday life that they envision these individuals as hiding out in their parents' basements, binging on video games and spending copious hours on social networking sites. Of course, such a broad generalization does not ring true for everyone born in that particular generation. However, it does some hold truth in that Millennials are statistically proven not to know how to navigate some aspects of adult life, which is why many are now hiring a Millennial life coach to teach them.
In reality, these so-called coaches specialize in teaching people in their 20s and 30s multitudes of tasks associated with living independently. For starters, they teach the finer points of handling money. Studies have shown that Millennials struggle with everything from managing a checkbook to paying bills on time. Their coaches provide them with the foundation of solid money management so they can become independent adults.
Likewise, they find out the finer points of balancing checkbooks for accounts to which they may pay little attention. They may not realize they get cash back rewards, for example. They also might not realize they accrue interest on deposits they make in their banks every month. They figure out when to pay rent from their paychecks and what paychecks to use to pay for other bills like their gas and electricity each month.
Coaches also teach pupils to save money to put in a savings account or toward retirement. For some people in this generation, they have never heard of the rule of saving 10 percent of their income each time they get paid. They spend all of their money instead of putting some up in case of emergencies or for later uses like retirement.
One of the tasks they may have to accomplish during their coaching involves opening a retirement savings account. This could be a 401k, Roth IRA, or another tax-exempt account. They then are instructed to put ten percent of whatever they earn each pay period into that account. They are told the money will come in useful for emergencies like car repairs, medical expenses, or retirement later.
People of the generation are also relatively ignorant about investing. They figure investing is for people who make large sums of money or wealthy individuals who come from old money families. The idea of opening an investment account frightens some of them because of how difficult it seems.
Coaches instruct them on how to find websites that allow people to launch their own investment accounts with relatively small amounts of funds down. They also are advised on trading and selling stocks, buying commodities, and investing in bonds and certificates of deposit. In a short amount of time, they could have investments as part of their assets.
Navigating adult society is sometimes trickier than it looks for people of the Millennial generation. They grew up without many important life lessons at their disposal. They are just learning about them now by hiring a life coach who guides them through basic lessons in adulthood.
In reality, these so-called coaches specialize in teaching people in their 20s and 30s multitudes of tasks associated with living independently. For starters, they teach the finer points of handling money. Studies have shown that Millennials struggle with everything from managing a checkbook to paying bills on time. Their coaches provide them with the foundation of solid money management so they can become independent adults.
Likewise, they find out the finer points of balancing checkbooks for accounts to which they may pay little attention. They may not realize they get cash back rewards, for example. They also might not realize they accrue interest on deposits they make in their banks every month. They figure out when to pay rent from their paychecks and what paychecks to use to pay for other bills like their gas and electricity each month.
Coaches also teach pupils to save money to put in a savings account or toward retirement. For some people in this generation, they have never heard of the rule of saving 10 percent of their income each time they get paid. They spend all of their money instead of putting some up in case of emergencies or for later uses like retirement.
One of the tasks they may have to accomplish during their coaching involves opening a retirement savings account. This could be a 401k, Roth IRA, or another tax-exempt account. They then are instructed to put ten percent of whatever they earn each pay period into that account. They are told the money will come in useful for emergencies like car repairs, medical expenses, or retirement later.
People of the generation are also relatively ignorant about investing. They figure investing is for people who make large sums of money or wealthy individuals who come from old money families. The idea of opening an investment account frightens some of them because of how difficult it seems.
Coaches instruct them on how to find websites that allow people to launch their own investment accounts with relatively small amounts of funds down. They also are advised on trading and selling stocks, buying commodities, and investing in bonds and certificates of deposit. In a short amount of time, they could have investments as part of their assets.
Navigating adult society is sometimes trickier than it looks for people of the Millennial generation. They grew up without many important life lessons at their disposal. They are just learning about them now by hiring a life coach who guides them through basic lessons in adulthood.
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Get a summary of the things to consider when picking a life coach and more information about a knowledgeable millennial life coach at http://www.guidinglifecoaching.com/about now.
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