Financial Literacy - An Investment in Yourself: An Interview with Brett Killion (NextGen Financial Freedom, Lakeland University) & Steven MacDonald (FGPM)
Financial Literacy: An Investment in Yourself
As a student and young adult, most of us were never taught to effectively a) save, b) spend, and c) invest. During this Panel, we will hear from accounting professor and financial professional Brett Killian and tax attorney Steven MacDonald on how young professionals can save effectively, avoid common financial pitfalls, and begin investing with intention. Plus, we find out if money can, in fact, buy happiness.
Panelists:
Brett Killion, CPA
Brett Killion, CPA is an Associate Professor of Accounting at Lakeland University and serves as the Director of Lakeland's Accounting program. Brett joined the Lakeland faculty in 2012 and teaches a variety of accounting and finance courses, including his favorite class: personal finance. Brett was named the 2023 winner of the annual Underkofler Excellence in Undergraduate Teaching Award at Lakeland University.
Brett is also the founder of NextGen Financial Freedom which focuses on teaching sound money management strategies to young adults. With 20 years of experience teaching personal finance and being a curriculum designer, Brett gets is excited to help the next generation of adults achieve their financial dreams.
Brett lives in Green Bay with his wife Natalie, daughter Adrianne, and goldendoodle Rosie.
Steven MacDonald, JD/MBA
Steven MacDonald is an attorney practicing in Milwaukee, WI. He is a University of Wisconsin-Milwaukee undergraduate and attended Marquette University Law School, graduating in 2014.
Steven also served in the United States Army for eight years. He then began his legal career in Veterans Services for Senator Tammy Baldwin. Now a Contracts Officer for the U.S. Department of Veterans Services, Steven ensures eight hospitals in the Midwest have the necessary supplies to serve our veterans.
FGPM is proud to have him as our Exchequer and Member of the Board.
Moderator:
Molly Madonia, Founder & President, First Generation Professionals of Milwaukee
Recorded Monday, May 1, 2023
“Spend money lavishly on the things you love, and cut costs mercilessly on the things you don’t.”
In Part 1 of Financial Literacy: An Investment in Yourself, Brett and Steven discuss the concept of saving money, how to structure a long-term savings plan, and how to use the financial tools available to set yourself up for the future. They also discuss common pitfalls of first generation professionals make as they begin to save,
“Studies have shown there is a correlation between money and happiness. They even went deeper saying, how you manage your money can impact your happiness. Focusing your spending on experiences, spending to create time, and charitable giving (including giving to friends and family) have the greatest impact on happiness.”
In Part 2 of Financial Literacy: An Investment in Yourself, Brett and Steven unpack investing: how to approach investments, meaningful investment options for young professionals, and why investments are a long-term plan. We then shift to financial prioritization - how do we prioritize and balance large expenditures, such as student loans vs. saving for a first home? Finally, we finish our discussion with an age-old question: Does money buy happiness?
Resources:
Podcasts
Choose FI - hosted by Brad Barrett
Afford Anything - hosted by Paula Pant
The Side Hustle Show - hosted by Nick Loper
Books
I Will Teach You to be Rich - Ramit Sethi
The Automatic Millionaire - David Bach
The Millionaire Next Door - Thomas J. Stanley, Ph.D. & William D. Danko, Ph.D.
LinkedIn:
You can find Brett Killion and NextGen Financial Freedom on LinkedIn
You can find First Generation Professionals of Milwaukee on LinkedIn
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