Beginning…

It's the middle of summer. I remember getting ready to start my first job. It was in New York City. The promise of a new city, a new job, new friends, and an open road of opportunity was exciting. I didn't know I was about to run headlong into adulting, especially financially. The responsibilities of that shift haven't changed much since.

I remember sitting in the office on our first day, filling out payroll forms (W-4). I claimed "head of household" because… I don't know, it sounded right? Who else was the head of my household? So, I screwed up my tax withholding for my first year as a finance professional.

I was making $55,000 and living by myself, so I didn't put a single dollar into my 401(k). Nothing.

We haven't even gotten to things I hadn't heard of yet. I only learned about some of them almost 15 years later when I started working on them.

Even though financial advice as an "industry" was more than 60 years old when I was getting started, it wasn't available like it is today; no information was. Despite all of our technology, its insights still tend to be generic. That's by design. If you're trying to attract an audience, you can be pretty sure everyone has some spending they can cut. So everyone talks about budgeting.

But that's not enough.

If you're getting ready to enter the professional world, understand this: you're about to make a bunch of financial decisions you won't understand in the moment or for their implications in the future. There are issues you won't even know to ask about. You, like everyone else, will be alone at the center of your financial life.

Try this single step: Learn how your industry generates wealth, even if it's not your primary motivator. It could be as simple as saving from a paycheck or it could be more complicated. The mechanics of wealth generation anchor every other financial decision you make. Understand it. How does it work? How long does it take? What is its biggest adversary — spending, taxes, illiquidity? What can you do about it? And, at the same time, know that many of the people around you do not understand this idea. I know. I sat in meetings with them when I was in private banking.

You're off for your next adventure and there's no reason your success should stop now. I envy you. Find people you trust. Ask them. There are good tools available. Use them.

Focus on your work and help build the future you see in your head.