Graduation Advice

Graduating from college is a huge step in any young professional’s life. But even when they’re done with school, new graduates have a lot to learn when it comes to financial planning for the future. Luckily, they don’t have to do it alone. InvestorPlace has advice for new graduates on topics from portfolio asset allocation to refinancing student loans to impressing potential employers at your job interview. Everything a young adult needs to put down the beer bong and pick up some bearer bonds.

Money Moves for Recent Grads: Maryland Professor Elinda Kiss

"If you start saving nine years earlier, you will have twice as much money; that is the beauty of compounding."

Money Moves for Recent Grads: Creighton Professor Robert R. Johnson

'People should be lauded for paying down student loans. However, making that the only financial priority is misguided.'

Money Moves for Recent Grads: Clemson Professor Josh Harris

'Most graduates will probably be more risk averse regarding their savings and budgeting due to Covid-19.'

Money Moves for Recent Grads: UT Austin Professor Michael Sury

'Borrowers should not, however, confuse minimizing their monthly payments with saving money. Minimizing payments is not the same as minimizing interest.'

Money Moves for Recent Grads: MSU Professor Stephen Schiestel

'It is important to look at the benefits package that an employer is offering when considering job offers. Make sure that you have some health care options, disability insurance coverage and retirement savings plans.'

Money Moves for Recent Grads: Michigan Professor Paolo Pasquariello

'Likely, unscrupulous people will advise you to invest most of your money in stocks because you are young and retirement is decades away. Your answer should be that being young does not mean being stupid; no less than 35% of your money should be invested in (government) bonds.'

Money Moves for Recent Grads: Utah Professor Ann C. House

'Building savings is made by the day-to-day decisions we make to spend less, save even if its $2 a day at first, but be consistent and set this money aside. An emergency fund takes time to build. Repaying student loans will also be the habitual paying debt down each month, perhaps throwing a bit more towards the debt, until it is paid.'

Money Moves for Recent Grads: CSULB Professor Laura Gonzalez

'It is quite likely that even after the pandemic passes, employees will resist commute and appreciate the flexibility of working from home at least one day a week. Employers will see this as a reasonable and productive alternative to expensive bonuses and other benefits.'

Money Moves for Recent Grads: Clemson Professor Scott Baier

'If you are having trouble making payments on your students loans because you are having a hard time finding a job or unemployment, the best thing you can do is contact your lender and see if you can delay payments.'

Money Moves for Recent Grads: Cornell University Professor Vicki Bogan

'Specifically, with regard to savings, it is important for new graduates to develop an emergency fund with at least 6-8 months of expenses. The economic downturn due to the coronavirus has highlighted the financial fragility of many households.'