The Importance of Financial Literacy for Professionals Aged 22-35
In 2013, a young professional and chartered accountant, Jibayo Alloh, was sent to live with me in Abuja, Nigeria, at the age of 22. As his godmother and a young pharmacist, I found myself in a unique position—one where I was able to receive reverse mentorship from him.
I fondly remember our many conversations during meals and while shopping for design ideas in Abuja. As we navigated the construction market in Zone 5, our talks often centered on business and finance. These discussions had a profound impact on my understanding of financial matters and greatly influenced my personal financial decisions.
When Jibayo prepared to leave my home, he left me with two priceless gifts:
- An introduction to key financial institutions like CardinalStone in Nigeria, where I could begin investing my funds in treasury bills.
- The invaluable concept of reverse mentorship.
His insights empowered me to take charge of my financial future from a young age. Today, I attribute much of my financial success to the wisdom I gained from his guidance. While my financial portfolio may be modest, the decisions I’ve made have been backed by the sound advice he shared with me.
As life unfolded, I encountered various challenges—losing a loved one, managing shifts in family dynamics, and facing the financial pressures that come with a growing family. I’ve also experienced the complexities of income dynamics as a young professional and the difficulties tied to geo-educational mobility. Despite these challenges, I remain steadfast in my belief that financial literacy is crucial, no matter your circumstances.
It is essential for every young professional—especially those between the ages of 22 and 35—to develop a strong foundation in financial literacy. This knowledge is the first step toward financial responsibility and independence. Whether you’re navigating the early stages of your career or managing personal financial responsibilities, understanding how to make informed financial decisions is key to building a secure future.
Equip yourself with the tools to manage your finances wisely. Start today, and you’ll be better prepared to face life’s challenges with confidence and clarity.
While I may not be a financial expert, I am continuously working to expand my financial knowledge and understanding of the resources available to me. Recently, in the Business Readers Global Community, we delved into The Psychology of Money by Morgan Housel. This book shares timeless lessons on wealth, greed, and happiness, and I highly recommend it to anyone looking to deepen their understanding of money and its impact on life.
Another valuable resource I want to highlight is Do It Yourself Wealth Management by Stanley J. Kon, PhD. In this book, Dr. Kon has poured his expertise into creating a platform that provides tools to empower individuals to take control of their wealth. Whether you’re just starting out or looking to refine your financial strategy, this book offers practical guidance for managing your own financial portfolio, making informed investment decisions, and securing your financial future.
In line with this, I’d like to introduce WealthFluent, a platform designed to provide young professionals with the tools, resources, and expert guidance necessary to navigate the world of wealth management. WealthFluent offers a range of services, from personalized financial planning to portfolio management and investment advice. Their approach is tailored to help you build and manage your wealth confidently, enabling you to make sound financial decisions and achieve long-term financial independence. With their user-friendly platform and expert support, WealthFluent empowers you to take control of your financial journey and build a prosperous future.
I encourage you to explore their offerings as you continue to grow in your financial literacy and take charge of your financial well-being.
Thank you to my godson, Jibayo, for sparking my curiosity and guiding me on a path of financial discovery. Your wisdom, even at such a young age, has had a profound impact on my life and has empowered me to take control of my financial future. The lessons you shared with me—whether about the importance of understanding financial institutions, managing my investments, or embracing the concept of reverse mentorship—have been invaluable.
Your guidance continues to shape my financial journey, and I am grateful for the foundation you helped me build. It is because of you that I began to view my financial decisions through a lens of responsibility and opportunity, and I carry those lessons with me every day. As I continue to learn and grow, I am reminded of the power of mentorship and the lasting impact that one person’s insight can have on another’s life. Thank you for being that person for me.