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Millennials! Want to make the break for independence?

Tiffany Mosig - Thursday, December 17, 2015

As your generation slides up one slot on the generational totem pole, many of you are hitting snags in your road to independence. Believe me, we’ve all hit them.

 

 

For one thing, you may be carrying student loan debt. Add peer competition in the lifestyle arena, and the pressure is on. Sixty-one percent of 25- to 34-year-olds today are relying on family money to make ends meet, according to the AICPA. Is that fair?

 

Every generation has had its period of adjustment. Much of it was driven by world events and the world economy. The end of WWII made everyone want to focus on building something positive – like families. Where do you think the Baby Boomers came from? Don’t despair. You’ll get through this.

Want to start the New Year with a new attitude? Here are some tips:

 

Take control of your own income taxes. I know you’ve been on your parents’ returns for a long time. But there are actually benefits to not having Mom and Dad handle it. It’s time to take the reigns.

 

Trust someone other than your friends. Who wouldn’t rather take advice from a friend than some institution? I get that. But your friends are in the same boat making the same decisions you are, and some of those boats don’t have paddles. Find an accountant and let them help you.

 

Believe in yourself. Succeeding in life doesn’t mean smooth sailing every day. In fact success depends on hitting walls and slogging through some stuff you might hate for a while. I know you want to take on the world. Start by taking on yours.

 


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