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Business

3 reasons young investors should have a financial planner on their team

Presented by a LEXtoday Partner

Wealth Management Advisor John Cadwell, CFP^® works with younger generations to help develop and execute their financial strategy. | Photo provided by WealthSouth

Did you know? Only ~35% of Americans work with a financial advisor. Another shocking stat: A recent study found that ~79% of Millennials and Zoomers have received financial advice on social media.

While social media, apps, and other online resources can play a helpful role in financial education, it’s not the only thing young investors should rely on.

The best bet of all? Taking your wealth-building advice from a real-life expert with real-world experience — like the pros at WealthSouth. From inflation to cryptocurrency, they have valuable perspectives on how current events can affect your finances, as well as how to mitigate those risks.

“Young professionals are busy and, in my experience, they are looking for someone to help them determine and coordinate their overall financial strategy,” WealthSouth’s John Cadwell says. “There are many investment options with new and emerging technologies, and while young professionals we work with are looking for someone to help them navigate investments, they want help with debt consolidation strategies, insurance, estate planning, overall cash flow, and retirement planning.”

If you fall into the 65% who aren’t currently working with a financial advisor, here are three important ways a financial advisor can help you as you begin your financial journey. Financial advisors can:

Help make sense of your situation and analyze important data unique to you.
Provide important connections between you and your other financial partners, such as attorneys and accountants.
Brainstorm wealth-building strategies with you, and answer questions along the way.

Consider adding a trusted financial advisor from WealthSouth to your list of tools + resources that can support you on your financial journey.*

Financial facts this way

This content was created in partnership with WealthSouth.*

Asked

Quiz: According to a recent survey, what percent of Millennials said they’d like to retire before the age of 65?

A. 5%
B. 26%
C. 50%
D. 61%

Take a guess

Events

Tuesday, May 16

Tea Tuesday at Waveland | Tuesday, May 16 | 2-4 p.m. | Waveland State Historic Site, 225 Waveland Museum Ln., Lexington | $35 | Enjoy a special tea service with three tasty courses served by period-dressed interpreters, then take a stroll to explore the historic Waveland Estate mansion.
Big Band & Jazz | Tuesday, May 16 | 7 p.m. | MoonDance Amphitheater, 1152 Monarch St., Lexington | Free | Pack your picnics, blankets, and lawn chairs to enjoy live big band or jazz music at our city’s longest-running concert series.

Wednesday, May 17

Wellness Wednesday | Wednesday, May 17 | 6 p.m. | Old North Bar, 101 W. Loudon Ave., Lexington | Free | Give your body and mind a midweek break with an evening of yoga + trivia.
Zumba Fitness Express | Wednesday, May 17 | 6:30-7 p.m. | The Salsa Center Dance Studio, 817 Lane Allen Rd., Lexington | $5-$20 | All levels are welcome to get their heart pumping in this quick dance workout class.

Thursday, May 18

West Sixth Beer Garden Pop Up | Thursday, May 18 | 4-8 p.m. | Woodland Park, 601 E. High St., Lexington | Free | Connect with fellow Lexingtonians at this temporary neighborhood beer garden complete with a food truck, background tunes, picnic tables, and space to gather.

Friday, May 19

VMA Block Party | Friday, May 19 | 6:30-9:30 p.m. | Downtown Versailles, Green St., Versailles | Free | The Versailles Merchant Association invites you to the block party + Art in the Park mashup to enjoy food, drinks, kids’ activities, shopping from vendors, and live music.

Events calendar here

Click here to have your event featured.

News Notes

Civic

As the 2023-2024 city budget makes its way through a series of reviews, amendments, and readings, CivicLex wants to help you understand the process. Head to the Lexington Senior Center today at 1:30 for its Budget Workshop, where you’ll learn about this year’s funding priorities + how to get involved.

Traffic

Construction at the city’s transfer station, located at 1505 Old Frankfort Pike, is expected to cause delays along the road between Forbes + New Circle Roads. Be mindful and patient when driving through the area, especially from 9 a.m. to 3 p.m. Work should be completed by mid-August.

Legacy

Kentucky State Representative + Lexingtonian Lamin Swann died on Saturday, May 13. Rep. Swann was a well-known activist in the area who advocated for housing fairness + anti-discrimination laws. (Lexington Herald-Leader)

Sports

Send some love to the UK men’s tennis team as they head to Orlando this week for the Elite 8 of the NCAA tournament. This is the second year in a row they have advanced + will face the University of Virginia on Thursday. (LEX18)
UK’s softball team has also earned post-season play and will head to Northwestern University for its 14th straight NCAA tournament appearance. Watch the Wildcats take on the Miami Redhawks on the SEC Network this Friday, May 19 at 1 p.m. (ABC36)

Number

11,000. That’s how many pounds of trash were collected during the Main Street Clean Sweep for Bluegrass Greensource’s Earth Week celebration. The week also saw ~1,000 volunteers from 11 counties participate. Check out the nonprofit’s next event called Greenfest, coming up Saturday, June 3.

Edu

Transylvania University has named Lisa L. Custardo as the school’s Chief Financial Officer and VP for Finance and Administration. Lisa comes to Lexington from Rockford University where she helped negotiate numerous renovations + improvement projects. She will take over the role this summer.

Festival

Don’t miss this one, Lexington. Tickets just went on sale for the Kentucky Bourbon Festival, an experience you won’t find anywhere else except in Bardstown, KY — the Bourbon Capital of the World. General admission and VIP experiences go quickly, so if you’re interested, snag your spot.*

Eat

Attention, service industry folks. If you’re tired of working brunch instead of eating brunch, District 7 Social Hall has your back. Enjoy brunch specials and (obviously) Bloody Marys from 11 a.m.-3 p.m. every Industry Monday.*

The Buy

Turn misplaced keys into a thing of the past with the Apple AirTag. The button-sized tracking device can give you step-by-step directions to your lost keys (or phone…or wallet…) and has a battery life of one year. Pro tip: Put one in your checked luggage and never worry about lost baggage again.*

Festival

Let’s go on a trip, Lexington

Expand your mind at Expansion

A group of people watching a band on stage with a psychedelic screen of red and white.

Vivid visual arts await you at Expansion. | Photo by Kylie Schmidt Photography

Expansion, Lexington’s Psychedelic Experience & Music Festival, returns this weekend, taking over town Thursday, August 22-Saturday, August 24.

This year, the annual festival is expanding to include multiple venues + experiences. Think: Psychedelic music, interactive art installations, and live visuals. Let’s take a trip through the itinerary.

Thursday, August 22

Psychedelic Cinema Night | The Kentucky Theatre
Catch a screening of “Okonokos,” the concert film of a 2006 performance featuring Louisville jam rockers My Morning Jacket.

Friday, August 23

Local/Regional Showcase | Al’s Bar
Catch some of Lexington’s very fest psychedelic bands like Sweet Country Meat Boys, Doom Gong, and Movie Jail + live visuals.

Saturday, August 24

Expansion Music Festival | The Burl
The main event where you can soak in good vibes with LED visuals, interactive art installations, contemporary cirus performances from Sora Aerial Arts, and live music from Too Many Zooz, jjuujjuu, Mr. Gnome, and many others.

The Wrap

Today’s edition by:
Molly

From the editor

This coming weekend is Equus Run Vineyard’s 25th Anniversary Party. Head out to historic Midway on Saturday, May 20 from 12 to 5 p.m. to celebrate with live music, food trucks, and of course, local wine.

Answered: D. The correct answer to our quiz is D. 61% of Millenials would like to retire before the age of 65.

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