Investment Simplified - Millennial Money Made Easy with One Day In July

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Financial advice to get started on the right track.

Navigating the waters of the investment world can be tricky, especially as a millennial who is often overlooked by advisors due to age and a presumed notion of having insufficient capital. Unfortunately, it’s these millennials who would gain the most from advice as they have more time to build wealth. Dan Cunningham, founder and Vermont financial advisor at One Day In July, recognizes the value of investing early and offers some advice for millennials who are looking to get started.

Take stock and review often: The first step on the road to financial security is to take stock of your current situation and go from there. Consider your salary, check-in on any savings accounts, write down all debts, and take a hard look at current spending habits. Having a solid understanding of where you stand financially at the start will help you create an investment plan that fits your lifestyle. While cutting back may seem difficult, remember to think with the end in mind and understand that being frugal now will help you tremendously in the future.

Take advantage of your work 401k: After you've taken stock of your current finances and have created a plan to save more and spend less, it's time to look to other areas where you can have a financial impact. Check with your employer to see if they offer a 401k or 403b retirement plan. If they do, you'll want to immediately start contributing the maximum amount you can to your plan. Mathematically, the money you save before age 40 is equivalent to most people’s entire life savings after age 40 thanks to the effects of compounding. Even if you're only 22 and retirement seems ages away, the sooner you start, the better off you'll be.

The power of index funds: Outside of your work sponsored 401k and any additional Roth IRA accounts you have opened, it's time to start thinking about other investing opportunities. While the lure of actively managed mutual funds with a quick payoff may be enticing, the reality is that your financial future will be much brighter if you only invest in low-cost, diversified index funds. Not only do the index funds beat their actively managed counterparts, but they are also a low-fee investment option, meaning it's easy for millennials with a limited pool of resources to get started. One thing to note: many of the new ETF’s (electronically traded funds) that are being pitched by the investment industry are not actually low-cost funds, so do your research first.

Be Aware: The unfortunate reality today is that 77% of investment advisors (1), and almost all the major finance firms, have conflicts of interest, so you need to be aware at all times. Many advisers are being paid by the funds they are investing in your account, even if these funds aren’t in your best interest. Also, many active fund advisors charge clients’ exorbitant fees that can wreak havoc on a portfolio in the long run.

By following these simple steps, millennials will be armed with tools they need to start building toward financial success. One Day In July is happy to work with millennials to help with financial and investing advice. Contact a financial advisor today to learn more and get started on your future.

For more information on One Day in July, and to learn more about Dan Cunningham’s approach to investing, visit

(1) / Cerulli Associates, 2/25/15


About One Day In July

Vermont financial advisory firm One Day In July, based in Burlington, VT, helps individuals, non-profits, and businesses save and invest using low-cost index funds. Index funds are sweeping the nation, and they are one of the fastest growing trends in American investing and financial planning. By focusing on reducing fees for investors, including those of the financial advisor, One Day In July is bringing long-overdue changes to investors in Vermont and other states. To learn more about the services offered by One Day In July, please visit

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Charlotte Lyman
+1 (802) 863-3929 Ext: 117
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