Investing for Millennials

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martinis and your money

Investing for Millennials

Recently I have received a few tweets and emails asking me to talk about investing, specifically for millennials. One of those requests came from a reader/listener, Claire, who is a 23 year old recent college grad who wanted to know how to invest her money.

The Ponytail Martini

This is my go-to drink whenever I am going to drink for a few hours and I typically say “Vodka, Soda, splash of cranberry;” however, recently I was in a bar in New Orleans and the bartender said that he called this “The Ponytail.” It’s typically served in a highball glass, but if you are feeling fancy, you can serve it in a martini glass.

  • 2 oz of Vodka
  • 1 oz of Cranberry
  • Club Soda

Shake vodka and cranberry over ice, pour into martini glass and top with cold club soda.

Podcast Notes

  • We talk about your three buckets of money and which each one represents
  • Shannon warns about having a “barbell” of investments where you only have cash/emergency savings and retirement savings
  • Shannon shares her steps to determining how you should separate your buckets of money and then invest them
  • Shannon explains asset allocation and why it’s important
  • Shannon gives guidance on what asset allocation you should have for each bucket of money
  • Shannon talks about a good process for getting into investing, especially if you never have before
  • Shannon explains the differences between stocks and bonds and ETFs and mutual funds
  • Claire promises to come back on the podcast in a few months to give the listeners an update

Random 3 Questions Claire Answered:

  1. What is the best advice you would give millennials who are interested in getting smarter with their money?
  2. If you could visit any location in the U.S., where would it be and why?
  3. What is a book you read that changed your life?

Do you feel comfortable with investing? Do you use multiple accounts to invest?

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Shannon is a financial planner who left a “traditional” financial services firm to start her own company, The Financial Gym, because she felt traditional financial services firms did not have the tools or resources to help people in their 20s and 30s who are starting out and trying to build assets while also managing debt. She realized that the key to long-term personal financial success is a commitment to financial fitness and making smart financial choices. Through her blog, Financially Blonde, her book, Train Your Way To Financial Fitness, her podcast, Martinis and Your Money and The Financial Gym, Shannon is committed to making financial fitness fun, easy and accessible for everyone.

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