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Green Peak Advisors

When is the ideal time to create a financial plan?

After completing my CFP certification, I quickly realized what my vision was going forward. I wanted to offer a segment of the market access to financial planning services who, up until now, have been seriously underserved.

Here are some scary stats…

In the US, the numbers are staggering and I would bet that similar numbers exist in other developed countries, such as Israel.

  • 95% of millennials are saving less than the recommended amount. [1] 1
  • Two-thirds of working millennials have nothing saved. Let me reiterate…ZERO dollars of savings!
  • Although two-thirds of millennials work for an employer that offer a retirement plan, only slightly over one-third actually participate in it. Meaning, they have access to this benefit, but do not choose to contribute to it.
  • 69% of households have less than $1,000 worth of liquid savings as an emergency fund. [2]
  • 34% of Americans (over 100 million people) have $0 worth of savings. [3]
  • 72% of households do not have written financial plans. [4]
  • 84% of millennials are under-insured. [5]
  • 44.7 million Americans have outstanding student loans. [6]


The list of worrying statistics goes on and on. But you get the point, right?

It is time for young adults to think about their financial future

Young professionals in their early 20s up through their late 30s not only tend to be over-leveraged (have taken on too much debt like in the form of student loans) but they are making the wrong financial choices. And it is in these years that they need to be making the right choices as it could have a major impact on their financial security and future retirement.

In Israel, perhaps young professionals do not have the same levels of student loan debt as in the United States, but they also tend to start working and saving later in life (after completing the army, following their 2-year “around the world” trip, etc.).

Real-estate prices are through the roof and show no signs of slowing down due to demand outpacing supply. Cost of living is on the rise and we have to combat higher inflation rates. Market conditions are choppy and volatile.  The job market, as we have seen, can be unstable.

In short, the time to begin planning your financial journey is when you are young, not just when you have a more established career, family, own a home, and have been putting away for retirement for 20 years.  Ask yourself, why should you wait?

I would highly recommend having a professional review all aspects to your finances – from your cash-flow, investment accounts, pension/retirement accounts, and insurance policies (or lack there of).

You should be willing to “invest” in your future now through a financial planner. You will more than recoup this “investment” within the first couple of years. It’s really about gaining that peace of mind!

Whether you are a young couple, finishing the army, or just starting out in your professional career. It pays to think about your life\financial goals and create the right financial habits now so that you can achieve those goals!

Reach out to Green Peak Advisors to do a financial review (בדיקת תיק) and to hear about how to plan for a secure financial future!


  1. NIRS
  2. Forbes
  3. CNBC
  4. Charles Schwab
  5. Savology
  6. Forbes



  1. NIRS