David Giertz’s Advice to Millennial on how to Save Money

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Posted by LLJ43 | Posted in Financial | Posted on 06-12-2017

In the recent times, millennial are finding themselves in trouble because of trying to make breakthroughs at an early age without financial knowledge. Millennial are trying to save up money at an early age for retirement and this May spell disaster. He has highlighted this as among the problems facing millennial. He has devised three effective ways which millennial can utilize their money while saving some for retirement.

It’s very essential to carry out an assessment of one’s financial status. It is critical because it enables one to establish the amount that one saves versus the amount used to take care of one’s bills. For one to develop an effective savings strategy, one has to clear all the debts as soon as possible. Debt repayment should come first for one to start saving for retirement at an early age. David Giertz encourages millennial to take advantage of compound interest. It goes a long way to buy into compound interest because taxation of money is done before making deposits and therefore on retirement, it will be tax-free. When one utilizes on compound interest, one build more on the rates as the money keeps on piling up.

David Giertz encourages millennial to come with as many side jobs as possible. When saving for retirement, side gigs come in handy to help control finances regarding expenditure and money saved. A side gig is a secondary source of income one carries out without straining any resources .it should also be an activity one enjoys doing. David Giertz has more than three-decade worth of experience in the continuous service financial industry. He served as the president of national extensive fiscal sales and during his tenure, he enabled the company doubles its revenue. David participated in various roles for several organizations such as chair of the board of trustee of the University of Milikin. He graduated from the Millikin University with BS degree and an MBA from the University of Miami.