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Tom Meaglia, ChFC®, AEP®,


Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507


Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750


Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120




September/October 2021

Millennials: Shore Up Your Finances

Millennials Shore Up Your Finances

Millennials tend to fall behind their parents’ generation when it comes to accumulating wealth. The Great Recession, student-loan debt and wariness about investing in stocks are some of the reasons. The good news is that millennials still have time to play catch-up. Here are some moves that can help millennials get their finances to a better place.

Break Up with Your Student Loans
Those student loans paid for your education and got you started in your career, but you don’t have to stay pals forever. Setting up an automatic payment plan to reduce or eliminate the amount you owe can free income for other things — like saving for retirement.

Keep in mind that interest on student loans is often relatively low and may be deductible on your income tax return. If you have high-interest credit card debt, paying it off while still making the required payments on your student loans is a smart move.

Be Prepared with an Emergency Fund
Your goal should be to save at least six months’ worth of living expenses in case of job loss or unexpected repairs.

Say Yes to an Employer Match
If your employer offers a 401(k) or similar retirement plan and matches your contributions up to a certain percentage of pay, consider contributing the amount needed to receive the full employer match. It’s like getting a bonus.

Put Your Stock in Stocks
Steep declines in stock prices during the Great Recession may make millennials reluctant to hold equity investments. But stocks historically offered the best chance for earning returns that outpace inflation. Keep in mind that past performance does not guarantee future results and stocks do not guarantee positive returns, but historically have performed well. Consult your financial professional for more information and help with building your investment portfolio.

Match Savings to Your Goals
Tailor your savings to each goal that you have. For example, consider these ideas:
  • Set aside money for retirement in your employer’s 401(k) plan and/or in a traditional or Roth individual retirement account.

  • Contribute to a tax-advantaged 529 plan for your children’s future higher education costs


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Investment advisory services are offered through Fusion Capital Management, an SEC Registered Investment Advisor. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.
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