If I could go back and give my 25-year-old self a pep talk about money, I wouldn’t hand over a secret stock tip or a magical retirement plan. Instead, I’d share a handful of honest truths—things I’ve learned through experience, mistakes, and the privilege of walking alongside others on their financial journeys.

Whether you’re 25 now or just remember what that felt like, here’s what I’d say:

1. Start investing, even if it’s just a little.

You don’t need to wait until you make “real money” to start investing. $50 a month into a Roth IRA is a powerful habit—because time is your best friend when it comes to compound growth. Starting early beats starting big. The important thing to remember is to do what you can but stay consistent with your monthly investing. This will help dollar cost average into any market cycle.

2. Debt doesn’t have to be shameful, but ignoring it will cost you.

Student loans, car payments, credit cards—debt is part of many young adults’ lives. But don’t pretend it’s not there. Face it, make a plan, and remember: progress matters more than perfection. It is important to understand your interest rates and tailor your payoff strategy to those loans with the highest rates. You will also want to be on the look out for the type of loan you have, some may be fixed interest rates and some may be variable. A variable loan rate can change in the future and impact your monthly income.

3. Spending money on experiences isn’t a waste.

While your future self will thank you for saving, don’t be afraid to spend on things that enrich your life: travel, concerts, meaningful moments with friends. Money is a tool—not just for building wealth, but for building memories. One thing my wife and I still bring up 20 years later is an all expenses paid trip to Italy we skipped. I had a friend playing basketball overseas and he had worked airline tickets into his contract. His family couldn’t make a trip and he offered us the airline tickets and the opportunity to stay with them in the city he played. He had a car we could use to explore and they offered to show us around the city he lived in. We both thought we were to indispensable to leave work for 7 days (couldn’t have been more incorrect). To this day we have never made a Europe trip and this is 20 years later.

4. You don’t have to have it all figured out right now.

At 25, you might feel like you should own a house, have a fully-funded 401(k), and a color-coded budget. But the truth? Most people are figuring it out as they go. You’re allowed to learn as you grow.

5. Ask for help sooner.

Don’t wait until you’re in financial trouble to talk to someone. Whether it’s a trusted mentor, financial advisor, or even a podcast, surround yourself with voices that teach and empower you.

6. Lifestyle creep is real—be careful.

As your income grows, your expenses will try to keep up. Be mindful. It’s okay to enjoy a few upgrades, but don’t let your future goals be sacrificed for short-term gratification. Income increases are fantastic but be sure to stick to your investment plan and don’t sacrifice monthly investment deposits for the next flashy item.

7. Know your values, then build your financial life around them.

The best financial plan isn’t just about dollars—it’s about alignment. What matters to you? Travel? Family? Freedom? Use your money to support those things. That’s where real wealth lives.

Looking back, I’m proud of the lessons learned—and even more grateful for the chance to help others navigate their own financial path. So if you’re in your 20s (or advising someone who is), remember: you don’t need to be perfect. You just need to begin.

Want a second opinion on your financial plan—or help getting started?
Let’s talk. Whether you’re 25 or 65, it’s never too early (or too late) to create a plan that fits your life.

Philip Lockwood | Founder + Managing Partner

Address: 1501 Ingersoll Ave Suite 201  Des Moines, IA 50309 Phone: 515-274-8006

Email: Plockwood@parklandrep.com Website: Lockwood Financial Strategies  Securities offered through Parkland Securities, LLC, member FINRA (FINRA.org) and SIPC (SIPC.org). Investment Advisory services offered through SPC, a Registered Investment Advisor. Lockwood Financial Strategies, LLC is independent of Parkland Securities, LLC and SPC Securities offered through Parkland Securities, LLC, member FINRA/SIPC.