Adulting Financially for Millenials

By Zach Yereb

OK, sooooo what do we do with our money? Our education system may think its important to teach topics such as physics and the Pythagorean theorem, but I think that for the 98% of Americans that will never use it, we need to cover the things 100% of Americans need, like balancing your budget and understanding your credit scoreyou know, that thingy you need to buy a house with.
In this book, we will talk about that jackass of an elephant in the room (oh geez not Clinton or Trumpsee what I did there?)credit card debts and student loans, the things that give you the equivalent turbulent feeling of walking into the bathroom on a commercial airline flight simultaneously as the captain announces hes turning the Fasten Seatbelt sign back on due to rough weather.
What about life insurance? Retirement? Im going to touch on everything youre worried about (but not like a creepy doctor). Let me just make one thing clear: my intent is for you to understand you need to put a financial plan in place and that you need a financial advisor. Everyones financial situation is different, and everyone needs help. These are my own opinions (correct opinions, mind you). Statements and/or opinions in this publication are my own and are not affiliated or a reflection on the Department of Defense.

• Language: English
• Publisher: Xlibris US
• Release date: Aug 4, 2017
• ISBN: 9781543439007

Book preview

Copyright © 2017 by Mr. Zach Yereb.

Library of Congress Control Number:    2017911678

ISBN:    Hardcover    978-1-5434-3901-4

               Softcover       978-1-5434-3902-1

               eBook               978-1-5434-3900-7

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the copyright owner.

Any people depicted in stock imagery provided by Thinkstock are models, and such images are being used for illustrative purposes only.

Certain stock imagery © Thinkstock.

Rev. date: 07/25/2017

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Contents

Foreword

Preface

Budgeting 101: Mastering the Art of Penny-Pinching

Good Debt, Bad Debt, WTF Were You Thinking? Debt

Car Buying Guide: Don’t Finance Squat

Tax Season: Deduct It All and Why Airbnb and Uber Are the Best with Deductions

Insurances: Yes, You Need Some, If Not All of This Crap

Home Is Where the Heart Is: Putting Your Money Where Your Heart Is

Retirement

Social Security

Bluffing Your Way to Number 1

This book is dedicated to

my aging parents, who gave me insight on social security;

my accountant stepmom for putting up with me for four years (and for her tax expertise);

my gorgeous better half, who is adult enough to have the financial talk with me—and for not minding going to Applebee’s from time to time;

this heroic gentleman for having the courage to write a foreword for this book (why would anyone have their names on anything I published?);

everyone I served in the military with (how have you not shot me yet?);

my business mentor for teaching me the importance of networking during happy hour, during one or six beers;

my real estate agent for telling her husband, my business mentor, to take me out for drinks and for being a dream of an agent while I built my first house;

last but not least, God; may He have a sense of humor, at least for my spiritual retirement.

Foreword

Humor and finances rarely go hand in hand. I should know; I am entrenched in different aspects of financial planning all day. Adulting Financially for Millennials, however, is humorous and makes all kinds of sense.

The fact of the matter is that we all must start making adult decisions—the spouse we choose to introduce to the parents, the car we choose to drive, the number of rounds we choose to buy for our friends (and their friends) at the bar, and yes, our finances. Although some of these decisions are more common sense than other, as Zach illustrates, they don’t all have to be difficult.

Regardless of your views on the political climate of this country, there are takeaways for every millennial in this book—things that you should all be considering:

How much do you need to save for retirement?

What impact will tax and inflation have on your retirement savings and savings in general?

Can you count on social security and to what degree?

How can you effectively and responsibly leverage credit to buy your first house, your dream car, etc.?

Taking all above into consideration, the most important thing to remember when enjoying Zach’s approach to our financial well-being is that, above all, the most important part in creating financial security is taking the first step, and Adulting Financially for Millennials is an excellent place to start no matter your level of education, your financial literacy, or your monthly income.

Preface

While I keep the book lighthearted and comical, I want you to know the motivation behind it because I do have goals for it. The book has been in the works since I was a financial representative for that big-name company that sponsors the college football Rose Bowl. While I was going through the training class to start with the company, I realized one important thing: I didn’t know what I didn’t know! It’s important that everyone gets a financial professional. If I learned one thing in the financial services industry, it’s that I