Tag: millennials

The Wealth Management Strategies for Millennials

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Millennials are the most educated generation in history. They are also the first generation to come of age when technology is changing everything, including how they work and communicate with others. Despite all that, millennials have been slow to invest in their future through retirement savings or building up an emergency fund. This poses a significant challenge for financial planners who want to help this group prepare for their retirement years. The Wealth Management Strategies for Millenials blog post will explore some options that might be helpful for this demographic.

They are the most educated generation in history. They are also the first generation to come of age when technology is changing everything, including how they work and communicate with others. Despite all that, millennials have been slow to invest in their future through retirement savings or building up an emergency fund. This poses a significant challenge for millennials who are trying to manage their finances responsibly.

Time Management

Millennials have less time than any other generation before them, so they must learn how to make the most of it by learning about investing and managing money wisely. There are many things that millennials should know when thinking about saving for retirement or building up an emergency fund. This article will discuss the basics of wealth management for millennials.

The Gap

Wealth management is a very broad term, but in particular, wealth managers are dealing with unique challenges when it comes to millennials. First of all, there’s the generation gap between millennials and their parents who grew up during different times. Then there’s the fact that millennials have only experienced financial crises throughout their adult lives, which has completely changed their view of money.

Retirement

When it comes to retirement, millennials are highly interested in the possibility of retiring early. This is great because now you know that many other millennial investors like yourself want to make the most of their money. Since millennials tend to be interested in early retirement, what can we do about it? The first step would be saving as much as possible, and the second step will require some work on your end and diversifying your portfolio.

Saving up

Millennials have difficulty saving for multiple reasons, including student loans and lack of steady employment or predictable income streams. Some experts suggest that millennials should keep a certain percentage of their income every month. The more money an individual makes, the less they need to set aside due to taxes and the more they need to set aside for savings, such as retirement. The future is unpredictable, and it can be challenging to plan when you don’t know what will happen in a week, month, or year from now.

Mind Shift

Millennials are all about making money, but they do not know how to manage their assets. They prefer investing in technology over putting money into stocks or bonds. However, they should start learning the strategies for wealth management if they want financial security later on. There is no time like the present!

In conclusion, In today’s world, many people are concerned about their finances and want to make sure that they have enough money saved up for the future. To do this successfully, it is often a good idea to invest in financial products such as stocks or bonds, which will return your investment. This can be very helpful when saving for the future.

4 Ways Millennials Improved the Workplace

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Millennials have brought a different kind of vibe to the workplace. They are more tech savvy than their predecessors, and the way they view work and the structure of work is radically different. Where once they were seen as the young crop of newcomers, they are now the mature leaders of today. As they begin to lead us through the next few decades of our lives, here are four practices millennials have implemented into our work culture that made things better.

Work-Life Balance

Once upon a time, the harder you worked and sacrificed determined your success. People who didn’t want to work so hard were seen as lazy, but that kind of mentality doesn’t serve the working world anymore and it’s all because of millennials. Millennials were the first group to realize that having time with family and friends is just as important as being at work. When that balance is achieved, workers perform better and their productivity is higher. People also feel that they are better supported at home because they are more present at home helping out and being available. Both areas of a worker’s life are harmonious.

Remote Offices

The rat race was seen as the place to be if you were making moves and changing the world. Not so much anymore. With the growth of technology and virtual meetings, the average worker doesn’t have to wear themselves thin commuting for hours a day to do work they can do from home. The home office or the remote office is where many millennials thrive. Being in an environment of your own making helps keep a person focused and without commuting, a lot of people work earlier and faster and their day can be freed up to relax, take care of errands, and curate a life where work doesn’t seem to dominate all. 

Stop Problems Before They Start

Many people would just let things slide in the office because they were afraid of upsetting the status quo. Not so much with millennials who aren’t afraid to put a stop to things that are just out right wrong. Associations like the Whistleblower Info Center were created because more people are speaking up more than ever about illegal activities or activities that are a detriment to those who do work hard. Millennials have set the precedent for self-respect and promoting a healthy work space.

Quality of Life

The workforce used to put quality of life second, but millennials have changed that conversation. Quality of life has now become the top priority in the working world. When people apply for jobs or consider job offers, quality of life is always the number one question asked in interviews. Millennials want to know how easy it is to take time off for mental health relief and rest. Are hours flexible so that when life issues arise they can be tended to? Millennials know that work cannot rule their lives and that when they feel they are seen and appreciated they can perform better.

4 Ways to Spend More Time Outside to Increase Business Performance

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It’s no secret that spending more time outside can benefit your health, as well as your business. 

If you are a business owner, you don’t always have the luxury of time to spend outside when you have 101 things to do! So, here are some ways you can spend more time outside with minimal disruption to your day-to-day business.

#1 Walk and talk 

Popular amongst millennials, it is a new concept that moves away from traditional business meetings, is to take your business meeting outside. If your meetings are held online, all you need to do is take a high-quality headset with you and find a nice, quiet place to walk. If your meetings are usually in person, then why not ask the other party if they wouldn’t mind taking it outside? You could sit outside a cafe, or walk while you talk. It’s a great way to get out of a stuffy meeting room and create more productive meetings. People are more likely to loosen up and talk openly when outside in nature. 

#2 Household chores 

When you run a business, there isn’t much free time. So rather than doing the laundry or washing up when you are home, switch with a family member while you head outside and get the jobs you were putting off done! Pull up the weeds, plant the flowers and trim the bushes. It is also a great excuse to invest in some new tools too! Ensure you have great clippers to cut back the brambles, a decent watering can for efficient refreshing and the best electric pole saw for cutting down trees. Having good tools and specific chores to complete can be a great way to get yourself outside while being productive. When you spend more time in nature and get things ticked off your to-do list, you are less stressed and more efficient in all areas of your life, home, and business! 

#3 Build a garden office 

If you can’t find time to spend outside and reap the benefits of nature, then why not immerse your business in nature instead? If you are a one-man-band, then why not move your office outside? Many, excellent garden office services can quickly and cheaply build you your own space, where you can enjoy nature all day long. If this is not possible just yet, why not move your desk to a window, or if you have an office with employees, keep the blinds open, invest in more plants to fill the space, and encourage breaks outside. 

#4 Regular team building days

If you own a business with more than 1 employee, why not integrate nature as part of the business with team building days. These can be scheduled regularly (perhaps monthly or quarterly) to encourage the team to get outside regularly, have fun and let loose. If they are planned, then business tasks can be tailored around them.

Finding new ways to work to incorporate more time outside can be a great way to lift your mood, get creative and in turn, increase business performance.

Career Development Ideas all Millennials Need to Know

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If you are looking to improve your career prospects, it is important to take action and be decisive. There are so many ways for Millennials to improve their approach to business these days, and 2020 is the perfect time to be able to achieve this. It is important to look at what you can do this year to help improve your career options, and this is something that you need to be getting on with right now. 

Make sure you focus on doing as much as possible to improve and enhance your experience, as well as making the most of the opportunities you have. Use these ideas to help you develop your career prospects this year, as well as allowing you to improve and enhance your existing career and business as well.

Become a Better Boss

Becoming a better leader is one of the most important things you can do to develop and further your career. There are a lot of factors that play a role in this, and it is something that plays a part in helping your company grow. You are going to need to do your best to find out about the best leadership skills and use them to try to improve your career. This is so important in so many ways, and it’s crucial that you get this right moving forward as a business owner.

Hire the Right People

Hiring the right people is one of the most important and essential moves you can take to improve your business. A company is only as good as the staff it employs, so it is important that you do what you can to try to get this right as much as possible. Think about the different elements that play a part in allowing you to bring the company more success and the people you hire play a major part in this. 

Increase Efficiency

Trying to improve efficiency is one of the best ways of being able to make the right career decisions moving forward. There are a lot of things you can do to achieve this, and it is important that you think about what it takes to improve your company’s efficiency moving forward, and this is so important to get right. Modern businesses should be looking to utilize things like batch printing in order to gain access to information is a faster and more efficient way, and this is something that you need to think about. 

Save Money

As Millennials know, taking care of your money has never been more important, and this applies strongly when it comes to your career. Investing in yourself is an important step in the process, but you also need to think about the best ways of being able to set money aside. Come up with ideas that are going to allow you to budget for the running of the business more effectively. 

As you might imagine, there are a lot of considerations for people looking to improve their business prospects. There have never been more career opportunities for Millennials than there are today, and it’s important to make the most of this. Make sure you do what you can to improve these ideas and try to make the most of your career right now.

Lagging Behind? Here’s How To Bring Your Business Into The 21st Century

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Let’s be honest, business now is a lot different to how it was a few decades ago. Technology has taken the world – and businesses – by storm, and there are many pressing issues now that simply weren’t discussed previously. But how do you say goodbye to the ghosts of business past, and embrace a new way of working that is more in line with 21st century ideals?

There are plenty of ways to do so, whether you’re a small business owner or you’ve climbed the ladder into large business leadership. But what are they, and how do you do it?

Embrace intersectionality

In the modern world, intersectionality is everything. For too long, the office has been the stomping ground of the rich white man, and many women and minority groups are fighting back and making their claims to the roles that they deserve. Sure, there is still a lot of work to be done, but hiring people based upon their merits – rather than archaic ideas – will be what helps your business to move forward.

Remove the hierarchy

Millennials in business have a different approach to leadership now, and it’s one that seems to be working pretty well. Instead of having a rigid hierarchy, many startups that put everybody on an equal footing are coming together, so that ideas can be shared and utilized more efficiently. Needless to say, this works a lot better than one person making all of the decisions, so spread the authority a little!

Use social media well

Social media is one of those things that almost everybody uses on a day-to-day basis. If you want to be able to stay in the game as a business, then you need to use social media wisely (and well). If you can pull this off, then it will really help to cement your reputation as a serious, modern business. Why, you ask? Because many people’s first port of call will be your Facebook and Instagram pages.

Break conventions

Business in the 21st century is all about breaking conventions. People are really pushing the boundaries in many fields, and seeing what actually works instead of toeing the same old line. Don’t be afraid to try out something new, and to revolutionize the way that your business functions. Whether it’s going to a marijuana business conference or shaking up leadership, you’ll see a difference.

Allow working from home

Although we’ve been stuck in those inflexible working patterns for the past few decades, working from home is now seen as one of the best ways to improve the happiness and productivity of your team. Allow them to stay at home for a day or two a week, and you’ll immediately see the difference in your office vibe. This is a huge trust exercise, but it almost always pays off in the end.

So, if you want to bring your old-fashioned business into the modern day, then try to implement some of these ideas in your office. Good luck, and have fun embracing the 21st century!

Saving The Planet- It’s Our Responsibility as Millennials

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As millennials, unfortunately the earth we inherited hasn’t been left to us in the best shape. A hole in the ozone layer, deforestation, acid rain, hundreds of thousands of animal species extinct and entire ‘islands’ of plastic washing up in the ocean highlight just some of the issues. While much of this was down to greed and irresponsibility, a lot of it also came about due to lack of understanding and education- now we know more it’s up to us to put this into practice. It really is our responsibility as millennials- now we know what the issues are (and how to halt/ reverse them) to do what we can to help the planet. Thankfully, there are lots of things that each of us can do that take very little effort but add up in a big way. Here are some ideas.

Use less water

Water is one of our most valuable resources. Diamonds and precious metals like gold are worthless in comparison, we absolutely need water to be able to survive as a species. The problem is that most of us waste too much of it, and the cleaning process is damaging as it uses fossil fuels. Start getting showers instead of baths, turn off the tap when you’re brushing your teeth and stop using tap water on your garden! Get yourself a rainwater tank from a company like National Poly Industries, let it fill and use this on your lawn and plants during dry spells.

Reduce your plastic waste

Plastic is causing massive, massive damage to the environment. It’s reached the stage now where it’s entering the human food chain, having devastating impacts that we can’t even truly predict right now. It’s difficult to be perfect when it comes to plastic as so many of the products we need are packaged in the wasteful, single use stuff but do what you can. Switch to a milk delivery service that uses (and reuses) glass bottles. Stop buying single use products like pens, razors and ink cartridges. Make sure any plastic you do use is being recycled correctly, recycling isn’t the answer unfortunately although it’s definitely better than nothing. As time goes on, we can expect companies to be producing less single use plastic and more eco friendly options which does make our lives easier as consumers.

Keep food waste down

Most of us as kids probably heard ‘eat your dinner, there are children in the world starving’ at one time or another. While the sentiment might be there (and reducing food waste is crucial) we all know the thinking behind this isn’t quite right. The reason we need to reduce food waste is twofold. First, the resources use to create food damage the environment. Plants and animals need water, and animals also need food which takes time and space to grow. Farm machinery such as ploughs and other harvesting devices all produce their own emissions and pollution. Disposing of food waste is also damaging, and filling up landfill and incinerators to get rid of it also has detrimental effects on the environment. Get organized so you’re only buying what you need. Get into the habit of freezing or preserving food before it goes off, and anything that does spoil, put into your own personal compost heap in your garden.

3 Tips for Millennials Who Want to Become Entrepreneurs

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Millennials get a bad rap for a number of reasons, some of them justified, others less so.

Among some of the less flattering stereotypes of millennials that exist out there, is the idea that they are entitled, undisciplined, and lack the ambition required to achieve great things in business.

Of course, there’s no reason why millennials can’t become successful entrepreneurs – and, in fact, many are spearheading the charge into the new and exciting world of web-based, location-independent work.

All the same, there are various tips that might be useful for millennials who want to become entrepreneurs, without living out some of the worst stereotypes of their generation.

Here are a few of those tips.

Aim to work smart and hard, in a balanced way – not just to work smart

One trend that commonly repeats on millennial-centered blogs and websites, regarding entrepreneurial work, is the desire to find ways to “work smart” instead of just “working hard.”

This desire to find efficient ways to get more done, in less time, with less effort, is often quite closely connected to the desire to travel the world while working remotely, and living a life of adventure. It’s in stark contradiction to the old idea of an entrepreneur as someone in a suit who never leaves the office, and who doesn’t have a personal life.

Of course, balance is important. Doing nothing but work is not likely to be fulfilling for many people, on a deeper level.

And, it’s also true that finding ways to “work smart” is important in order to maintain peak efficiency, and allow for proper work-life balance.

Don’t, however, fall into the trap of aiming to work “smart” and not work “hard” at all. Instead, aim to work smart and hard, while maintaining balance.

All entrepreneurs have to work hard if they want to be successful. If you don’t, be sure that your competitors will, anyway.

Get the basic infrastructure in place, get started as soon as you can, and stick with it

 

 

Often, people are daunted by the idea of setting out on an entrepreneurial path, and are good at procrastinating, making excuses, and drawing the process out forever.

If you actually want to become a successful entrepreneur, though, it’s important to get started as soon as you can, and to dedicate yourself to a process of iterative improvement, done consistently, over the mid and long-term.

If your business needs ATM equipment, buy it. But then, get started, and iron out the kinks as you go along.

Action builds momentum, and provides plenty of learning opportunities. And action combined with endurance can go a long way.

Become your own manager – get used to holding yourself to a schedule and routine

 

 

Associated with the general stereotype that millennials don’t like being constrained in their professional lives, is the idea that being an entrepreneur allows you to be completely intuitive and spontaneous with how you structure your time.

Realistically, though, it’s important for you to view the entrepreneur’s life as an injunction to become your own manager, and to hold yourself to a schedule and routine, and not as an excuse to do what you want, when you want.

It’s always much easier to actually achieve things when you have some order in your life.

 

 

5 Modern Networking Tools For Millennials to Get Ahead

Scott Asai6 Comments

As a millennial, take advantage of the fact that you love trying out new methods, apps, and technologies for just about everything, especially for your career and professional life. Let’s face it, we spend a majority of our lives working, so we might as well utilize new technologies that let us work in creative ways and make our professional lives simpler.

Networking is a great opportunity to use new technology that will help you connect with professionals easier and stand out against the stack of resumes they’re digging through. The goal of networking is to connect with others, offer value, and see if you can create a win-win situation with your potential business partner. This will always be the goal no matter what happens with technology.

What we care about is HOW to connect with colleagues in a modern, unique, fun, but still professional way. Here are 5 underutilized tools to make you stand out as a young professional and network effectively.

1. Instagram

I already know what you’re thinking… “Instagram? You mean just try to get followers or follow professionals?”… Not exactly.

As of right now, you can direct message any person on Instagram without having to follow or send a request ahead of time. Reaching out to someone you want to build a relationship with on Instagram direct messaging shows them that you are up to date with modern technologies and different. A nice little personalized message to get your foot in the door would more likely get noticed than another email in a sea of unopened emails.

Here are some more tips for how to network with Instagram from Gary Vaynerchuk, an industry leader in digital and social media marketing.

2. Linkedin

I’m sure you already know the importance of Linkedin. Build an amazing profile, show off your talents, experience, and credentials, and then build your network. Linkedin is essentially today’s version of a resume, and it’s much easier to point to your Linkedin page instead of having to tailor a bunch of different resumes for different people with different needs.

Start connecting with people in your industry on Linkedin to learn more about their work, interests, and educational history. That way, when you reach out to message them, you have plenty of talking points from their profile.

3. Shapr

Shapr is the Tinder of networking. Yes, you heard me right. Shapr connects you with professionals in your area based on location, common interests, and fields of work. Check out their profile and swipe right to “meet” the person or left to pass. If you both swipe right, you can start a conversation right in the app.

It’s really easy to sign up because you can link your account to your Linkedin profile. Once the account is linked, just add a short bio and choose a few interests, skills, and industry keywords to find relevant matches looking for you!

4. Email Hunter/GMass

Even if a lot of professional people’s inboxes get loaded with messages, networking through email can still be effective. Now that Gmail categorizes our mail with spam, promotions, and social, there’s a lot more room in the inbox for your message to at least be seen. And almost everyone checks their email daily.

Use GMass and Email Hunter chrome extensions to dominate and automate the email process. Email Hunter is a nifty little tool that scrubs someone’s website for an email address, and shows you the sources where they found the email address. The best strategy is to use the extension on your future partner’s Linkedin page.

Then once you have a nice list of email addresses to reach out to, use GMass to schedule and mail merge emails that will get their attention.

You can effortlessly integrate GMass with Gmail, Google sheets, docs and Google Drive. Set up emails as either a brand new email or as a reply to a previous thread, and draft up to 8 automatic follow-ups that you can set and forget. It is an incredible tool that can save you time, energy, and stress!

5. Vistaprint

No matter how advanced we get with networking technologies, nothing will ever beat the personal touch of strong eye contact and a firm handshake. You should always be planning to go to networking events, even if you are still new in your field.

Vistaprint is a great place to make clean, well-designed and professional-looking business cards. They have plenty of templates and designs to choose from, or you can start with your logo, upload a design for them to print, or let their designers take over for you. In addition to business cards, you can also get marketing materials like flyers, brochures, and door hangers, or larger signs like banners, yard signs, and posters. It’s definitely the one stop shop for putting your designs on paper.

Be Above the Herd

With so much competition for people’s attention in today’s world, it’s important that you are staying ahead of the pack to stand out and be noticed. These tools are a great for building your professional network, finding a new job, or getting your first client.

What are some of your favorite online tools that make your life easier in all areas?

Drew Klebine: Content Marketer, Tech Writer, Philosopher, Musician

Drew Klebine is a Content Marketer, Tech Writer, Philosopher, and Musician from Pittsburgh, PA. His writings focus on modern marketing practices, software reviews, upcoming technologies, brand and product promotion, health, self-actualization, religion, and existential philosophy.

Lead writer and co-owner of uxax.org, writer and marketer for Inspectlet, InMotion, and HER Realtors.

3 Signs It’s Time To Quit Your Job

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In today’s job market securing a position before leaving is crucial and job-hopping is the new norm.

But how do you know it’s time to start looking elsewhere when the grass isn’t always greener on the other side?

Financial need should be one of the main criteria, but logic aside, here are some telltale signs the end is near:

1. You Dread Going To Work

Emotions are like the check engine light on your car dashboard. They indicate when something is wrong. For some lack of alignment with the vision of the company can be the deal breaker, while passion is the widely used qualitative measurement (on a scale of 1 – 10 how much do you love the company you work for?) As I wrote in an earlier post, you either drink the Kool-Aid or you don’t. If you score a 6 or below it may be a matter of when, not if you leave.

2. You Don’t Feel Valued

Value comes in different forms: respect, appreciation, compensation, etc. Being fairly paid is self-explanatory (and normally tied to your self-worth), but the “feeling” is tied to your direct manager. People leave managers, not companies. True story.

You may interact with your co-workers more frequently, but how you are treated by your boss is the thermometer. Feeling respected is being heard. Don’t expect all your ideas to be implemented, but if they’re all discarded you simply stop caring. Using the car analogy, value is the emotional fuel you run on at work.

When full, it’s easy to brush off apparent challenges.

When running on empty, minor offenses can be the straw that breaks the camel’s back.

Value determines longevity.

3. No Growth Opportunities 

Professional development ranked higher than pay for Millennials in job surveys. That’s because the corporate ladder has been turned sideways where lateral movement to another company can be more attractive than promotion.

Culture is the driver for individual growth. Using Zappos as an example, it’s the core values that shape behaviors, not mission statements. Investment in employees can be risky because they can leave, but without it you have little chance of people staying past a year. Smart companies use both internal and external resources to champion this cause. If Human Resources is overloaded, hiring an outside trainer or consultant who specializes in learning and development can be the better route. Establishing a connection then challenging comfort zones is the intersection of growth.

Moving on has more to do with how you feel treated than it does anything rational. Life is too short to settle for mediocrity. If you care about making an impact you’ll look outside your current organization for more attractive options. Remember, the best candidates are employed and there’s never anything wrong with looking for something better.

Why Kool Aid Determines Your Career Path

Your career situation lies on one question: do you drink the Kool Aid or not?

Scott Asai1 Comment

kool_aid_man_wavingThere are two groups of people at every company: those who drink the Kool and those who don’t.

Translation: you’re either “sold out” (all-in) or not.

There are exceptions; those who may not fully engage in the vision, but are satisfied enough to take the good with the bad. To me, that sounds like complacency, but to everyone their own.

In order to stay at a company for a long period of time you have to believe in the mission. Purpose is still a magnetic trait that companies have. If you don’t bleed for what a company stands for it’s not a matter of if, but when you exit.

For those who reject the Kool Aid, it’s revealed in the language they use.

Mainly “I” vs. “We.” Subtle, but very powerful.

“I” statements separate from the greater whole, while “we” statements identify with the organization.

It’s not as simple as making a language change…

The determining factor is how much you buy-in. That doesn’t mean you agree with every detail or decision made, but you’re willing to associate with the team more than your opinion.

Some say entrepreneurs escape Corporate America for freedom, but most do it for a dream.

Business comes down to two types of dreams: yours and others.

Owning a business supports yours and working for a company supports theirs.

Your job is to choose whose dream you’re on board with.

Millennials in particular live for making a greater impact. Job hopping is as much about identifying with a greater mission as it is about getting bored. Adding value is as much feeling valued as it is contributing to it.

In your current role, you will eventually have to make the same decision sooner or later: do you drink the Kool Aid or not?

It may not be as simple as “yes” and “no” when it becomes part of your financial livelihood, but the bigger question is how long can you deny it?

Life is too short to support a dream you’re not in agreement with. Social impact draws new followers daily because of alignment of personal and corporate values.

If a company has a high turnover rate it’s probably a Kool Aid issue.

So in your current position do you drink the Kool Aid or not?

The answer to that question shapes your career path.