Starting out is a challenge for every generation, but for much of what’s often known as Generation Y – the more than 80 million people born between 1979 and 1994 — the road has been atypically bumpy with a lagging economy and student debt getting in the way.
Whether recently graduated and starting a career, newly married, buying a starter home or just trying to pay down education loans, these young adults need to develop a road map in order to achieve short- and long-term goals. The Penn State Employee Benefits division offers help with the introduction of a new site from TIAA-CREF, Starting Your Financial Life. The site is designed for those who are just getting their financial footing, and provides useful tips and short videos to help get and stay on track to a more solid financial future.
The site offers insight on subjects like the difference between saving and investing; understanding where the rest of your paycheck – the part you don’t take home – goes; how to build an emergency fund; and how best to combine finances with a live- in partner, to name a few. Professional tips as well as peer testimonials show how to put words into action on these topics and others.
TIAA-CREF has nearly 100 years of experience serving the financial needs of those who serve others in the academic, medical, cultural, governmental and research fields. The Starting Your Financial Life website was developed based on the belief that a strong beginning can encourage greater confidence and discipline throughout a lifelong journey toward financial well-being. Visit the site here.