Financial Planning Young and Old

It’s never too late or too early to start managing your wealth.
College Fund Image
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With the help of UBS’ Wealth Management Services, clients can start saving in their early 20s or even younger. “From my perspective as a financial planner,” says Judith Martinez, director and financial advisor at UBS, “it’s a good idea to start financial planning as soon as you begin earning money or receiving gifts of money, such as that from your college graduation, because someone in their 20s is likely to have financial goals focused on planning for any future home down payments or paying off student loans.” Other times, someone older, like a grandparent or parent, may encourage younger people to start saving on their own. “Saving for college is a popular way many parents and grandparents introduce financial planning to their younger family members,” she says.

Judith Martinez

JUDI MARTINEZ, DIRECTOR, FINANCIAL ADVISOR

In fact, Martinez says parents and grandparents can educate young folks about the importance of saving early. “I have had clients who will match what their grandchildren place in their college fund. They might say something like, ‘Whatever you put in each month, I will match.’” This approach not only incentivizes the children or grandchildren to save at younger ages, “but it also teaches them to take an active role in planning for their financial future,” she explains.

It’s also never too late to start managing your wealth. “Financial goals can evolve based on life events, changes in financial position, births/deaths in the family, etc.,” says Martinez. Thus, goals for managing your wealth can change over a lifetime. “When we think about financial goals over a continuum of someone’s lifetime, it usually starts with building an emergency fund, saving for college expenses and retirement, and also planning for long-term care needs and your legacy, such as providing for surviving family members.” Therefore, UBS wealth management services start with a financial plan. “The financial plan is updated periodically to make sure we are still on the right path as life changes, circumstances change and goals evolve.”

Disclosures: Important information about brokerage and advisory services. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment in its capacity as an SEC-registered investment adviser and brokerage services in its capacity as an SEC-registered broker-dealer. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that you understand the ways in which we conduct business and that you carefully read the agreements and disclosures that we provide about the products or services we offer. For more information, please review client relationship summary provided at ubs.com/relationshipsummary.

Judith Martinez is a registered representative of UBS Financial Services Inc., a subsidiary of UBS AG. Member FINRA/SIPC.