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<\/a><\/p>\nFROZEN QITH INDECISION<\/span><\/strong><\/p>\n South has been looking for something in particular, but the search hasn\u2019t been easy: \u201cFinding a financial planner is a lot harder than I thought it was going to be.\u201d<\/p>\n South wants to start investing when he finishes school, but admits he\u2019s struggling to find a starting point.<\/p>\n \u201cMy whole life I\u2019ve been told to invest for the future, but how do I invest for the future when I don\u2019t even know where to begin in the present?\u201d says South.<\/p>\n The fact that South is interested in any investing at all makes him the exception for his age group, and far from the norm.<\/p>\n A LONELY PURSUIT<\/span><\/strong><\/p>\n Wai-Ke Kim, financial consultant with Investors Group in North York, says she rarely sees clients in their 20s.<\/p>\n \u201cNo, I do not see many young people actively looking for financial planners,\u201d says Kim. \u201cThere often has to be some kind of \u2018triggering factor\u2019 that leads them to want to find financial advice. He or she often has to be convinced that they should start now rather than wait.\u201d<\/p>\n For South, this triggering factor is a push from his parents.<\/p>\n \u201cThey keep telling me to \u2018get a head start\u2019 and \u2018don\u2019t wait too long, or you\u2019ll be broke,\u2019\u201d says South. \u201cI know they\u2019re looking out for my future, and I agree with them that investing makes a lot of sense for someone about to graduate.\u201d<\/p>\n Among few young people who decide to seek the help of financial planners, Kim has noticed that many seem to be following in their parents\u2019 footsteps.<\/p>\n \u201cSome young people do choose the same planner, either out of convenience or lack of interest in finding their own,\u201d says Kim. \u201cYoung people often think that if this financial planner worked out so well for their parents, then the same must hold true for them as well.\u201d<\/p>\n THANKS BUT NO THANKS<\/span><\/strong><\/p>\n That can work if young people have similar financial goals as their parents, but South is taking a different direction.<\/p>\n \u201cDon\u2019t get me wrong, I value their opinions. But I need to blaze my own trail,\u201d says South. \u201cFor me, it\u2019s a step towards self-sufficiency.\u201d<\/p>\n Despite the fact that South is searching for an advisor, experts say he shouldn\u2019t wait too much longer to make a decision.<\/p>\n \u201cBeginning to invest while we\u2019re young is more important than people realize,\u201d says Kim.<\/p>\n \u201cFor example, if you are 20 years old and start investing $100 biweekly until the age of 65, at an average rate of return of eight per cent, your projected retirement fund would be $1,085,308. Compare that to somebody starting at 30, and you would end up with $483,866.\u201d<\/p>\n South plans to invest $75 a month after he graduates. If he invests this money consistently for five years, at a basic average rate of return of two per cent, then he will have saved $4,783.43 by 2016, something South says \u201cwould be a good start.\u201d<\/p>\n \u201cI want to start off investing small, but still be consistent,\u201d he says. \u201cIf I can keep putting $75 a month away, month after month, I know I can build on this down the road.\u201d<\/p>\n START EARLY<\/span><\/strong><\/p>\n Earning more money isn\u2019t the only factor to take into consideration when beginning to invest.<\/p>\n \u201cWe are all living longer. If we continue to expect to retire by 65 or even earlier, that could mean that our retirement funds need to last longer and longer,\u201d warns Kim. \u201cStrangely, the question for young people these days should not be, \u201cWhat if I die?\u201d Rather, it should be, \u201cWhat if I don\u2019t die?\u201d<\/p>\n \u201cThe one regret that I hear most often from seniors is, \u2018I wish I had started earlier.\u2019 It all catches up with you in the end.\u201d<\/p>\n South plans on meeting the first potential advisor at his local bank branch, though he also wants to meet with a few independent planners before he makes a decision.<\/p>\n \u201cIndependent planners can cost a little more, but investing is also their sole focus,\u201d says South. \u201cI\u2019ll have the comfort of knowing my portfolio is being dealt with by someone whose job revolves around making money for clients.\u201d<\/p>\n If at first . . .<\/p>\n