The Importance of Financial Planning for Young Adults with Joel Miller - 183

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In this week’s episode, I sat down with Joel Miller, a Certified Financial Planner™ and the founder of Flames Financial Planning, to break down the intimidating idea of financial planning into something approachable, doable, and even enjoyable. We talked all about how young adults can get started with building a financial plan, why it’s not just for the wealthy, and how small steps can create big results over time. Plus, I share a personal story about the chaos we experienced with my wife’s student loans and why it’s so important to advocate for yourself when things go sideways.

Joel brings great energy and practical wisdom to this conversation, making it a must-listen for anyone who's ever thought, "I'll start planning my finances later." Whether you're just starting out in your career or trying to figure out your next money move, this episode will give you the tools and mindset to get going now.

💰 This Week’s Money Talking Points:

1. How can you start building a financial plan?
2. What small area can you begin with?
3. How can sharing your financial plan with others help?

⏱️ Time Stamps:

[02:00] Skyler’s Story Time: The Nelnet Student Loan Nightmare

[07:00] What Is Financial Planning, Really?

[08:30] Taking One Step at a Time

[10:00] The Importance of Emergency Funds

[13:00] Gaining Confidence in Spending

[14:30] Sinking Funds as a Game-Changer

[17:30] Uniqueness of Every Financial Plan

[20:00] Financial Planning Isn’t Just for the Wealthy

[23:00] Written Goals = Real Progress

[26:00] Estate Planning for Young Adults

[29:00] Other Easy Wins: 401(k) Match, Roth IRA, Avoiding Car Debt

🔗 Resources & Mentions:

Flames Financial Planning: Learn more about Joel’s practice at https://flamesfp.com

Text Joel: 952-300-9632

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"Upbeat Forever" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 http://creativecommons.org/licenses/by/3.0/