What is the most irresponsible investment college graduates most frequently make in the year after graduation?

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Posted by Sam Bernhard (MONEY FORUMS: 6, Answers: 0)
Asked on October 29, 2015 11:42 am
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Sam, most of the students I keep in touch with have taken my class, and therefore do not make irresponsible investments (that they tell me about) (lol). I do hear anecdotes about irresponsible SPENDING (see posts on this site ("The Morning After Chill" and "Coffeenomics"), and underestimating the bite taxes will take from their paychecks. In terms of investment, I think the most irresponsible thing graduates can do investment wise is to decide to borrow to go to graduate school without doing the math. Many do so because they can't thing of anything better to do, or because they think they need the degree to get the job they want. Others do it to defer repaying undergraduate debt. In most fields, even the arts and humanities, the best students don't have to pay for graduate school. If that is not the case for you/your field, you should think long and hard before borrowing to go to school. Look for alternative routes. Look for alternative funding. Work for awhile. It makes no sense to rack up $100,000 of debt to obtain a $30,000/year job.
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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: October 30, 2015 10:05 am