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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.



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.