Financial Planning for High-Income Millennials
The Right Moves Today for the Right Life Tomorrow
As a millennial in today’s dynamic world, you’re redefining what success looks like. Your generation thrives on hustle—whether it’s from your 9-to-5, side gigs, passive income streams, or striving for true financial freedom.
Every dollar you earn is a step toward the lifestyle and independence you value. But building wealth is about more than just earning—it’s about making smart, strategic decisions with what you keep. It’s making your money do some hustling for you.
Why Most Financial Advisors
Are Ignoring Millenials
And How Ausperity Is Changing That
Common Questions Our Wealth Management Advisors Hear from Millennials
- What should I look for in a financial advisor?
- How do planners help someone with high income and complex finances?
- Where can I find millennial-focused financial planning in Moorestown, NJ?
- Am I saving enough to hit my goals?
- Can I really retire early?
- How do I balance paying off debt and investing?
- How do I make the most of my company stock?
- How can I lower my tax bill while building wealth?
All these questions make it clear that while you’re likely earning more money than ever, no one has provided you with a playbook. You’re juggling student loans, big dreams, side hustles, and wondering if you’re really making progress.
Our Moorestown-based financial planners help millennials like you specializes in helping you find the right answers and customize the best strategies for your future.
How Our Financial Advisor Services Brings Your Future to Life
Earning well is just the beginning. Let’s focus on the other half of the equation: preserving and growing your wealth. That means taking a comprehensive look at your financial picture—from equity compensation and RSUs to stock options and tax strategies. We’ll help you unlock the full potential of your benefits and investments, making sure they’re aligned with your long-term goals.
Tax planning is also key. With smart strategies like capital gains management, tax-loss harvesting, HSAs, and even advanced tools like the mega backdoor Roth IRA, you’ll keep more of what you earn.
Common Mistakes We See While Financial Planning for Millennials in Moorestown, NJ.
One of the concerns our wealth management advisors often see while meeting with clients is over-saving in cash. This comes from a good place, as the individual is simply trying to be responsible with their money. But there are much better ways to empower your cash than sitting in a low-rate bank account.
Other common mistakes include sitting on RSUs too long and ignoring tax opportunities like backdoor Roth IRAs. But with the right plan in place, these issues are quickly resolved and your financial goals become closer than you think.
Case Study
The Challenge
A client who works for a well-known technology company approached us because she was concerned she wasn’t saving enough. Her top three priorities:
- College tuition for her children
- Purchase a second home
- Retire early
Though earning a significant income, she had allowed a large amount of money to build up in a savings account because she wasn’t sure how to best invest it.
The Solution
Our team devoted time to understanding our client’s unique situation. We then created a financial plan that included projected potential future expenses and identified time horizons for when cash might be needed. This allowed us to create an investment plan for the money that was currently earning less than 1% in her savings account.
When we did a discovery call with her 401(k) plan provider to ensure she was utilizing it to the fullest extent, we learned her plan allowed her to take advantage of one of the most powerful retirement savings strategies that currently exists: the mega backdoor Roth 401(k). Our experts then helped her change her contribution percentages and update her financial plan.
Ultimately, we found that our client is like many other high-income millennials who have a great saving mindset and don’t want to leave any opportunities on the table. But putting together a financial plan, coupled with an investment strategy, can be much more complex than most millennials anticipate, especially given changes that can occur to their employment, retirement plans, tax laws, and family dynamics. Our client has since referred us to several of her colleagues who also wanted to create a financial plan projection and learn how to take advantage of their own company’s mega backdoor Roth 401(k).
The client scenarios are presented for illustrative purposes only and are not representative of all client experiences. Past performance is not a guarantee of future results. No part of this scenario should be understood as a recommendation of an investment product or strategy or construed as individualized investment, tax, or legal advice.
Not all 401(k) plans allow in-plan or in-service Roth conversions.