What are the best investment tips for new college grads?

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Posted by lydia roth (MONEY FORUMS: 1, Answers: 0)
Asked on September 23, 2016 4:26 pm
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Hi Lydia, thanks for asking a great question! There are a couple of key points for new college grads getting started with investing.

One key is to know what you are working with and map out a plan. This means first establishing a budget and a system for managing your money in terms of bills, banking, etc. The plan would be your goals and reasons for saving and investing. Establish both short-term and long-term goals.

Another key is to be sure you are addressing your cash reserve right from the start. Many people refer to their cash reserve as an emergency fund but it is for opportunities as well!

Do your research on different investments and investment methods. Find what you are comfortable with that can get you on track for your goals – or at least make a start in that direction. It is OK if you don’t start out on track for everything! You’re just getting started! Frequently we halve to walk financially before we can run. Start small and slowly keep doing more and more.

Lastly, be sure to allocate some money towards retirement right from the start. If the company you work for has a retirement plan participate in it and be sure you are taking advantage of any matching contributions.

Keep asking questions and you will do great!

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Posted by Peter Neeves (MONEY FORUMS: 1, Answers: 59)
Answered: September 23, 2016 10:34 pm