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Investments Tips For College Graduates Connecticut

Nowdays, there are more and more newly-graduated students starting the investment. New graduates should max out their 401(k) plans and stay informed of market trends. Here are tips for college graduates.

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Allstate Agent Kevin Tobin
203-237-2227
477 South Broad St
Meriden, CT

Westport Management & Financial, LLC
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Westport, CT

Rose City Financial Services, LLC
860-383-6044
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Norwich, CT

New York Life Insurance Company
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Alan J. Grouse
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Guilford, CT

Cadwell & Associates, LLC
203 453-2989
741 Boston Post Road, Suite 307
Guilford, CT

ARIA, LLC
203 453-9075
2488 Boston Post Road, Suite A
Guilford, CT

Barnum Financial Group
203-689-9011
2614 Boston Post Road, Suite 33B
Guilford, CT

Compass Securites & Asset Management
203 453-7000
10 Water Street
Guilford, CT

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Investing and trading are like smoking. Both are addictive and can change the quality of your life. For the college graduate, here are five tips to starting a financially-healthy life:

1. Max out your 401(k)

This is the best way to get FREE money. Most employers will match your contribution up to a certain limit. There is one main choice in this area: Traditional or Roth. A traditional plan will take the deduction out of your paycheck before taxes; a Roth plan after. If you are just getting out into the world on your own and are strapped for cash, a traditional plan is advisable. It allows you to take home the maximum amount of money each month. The downside to this is that you will be taxed later in life when your individual tax rate may be higher.

Here's a quick example: Your paycheck is $1,000, contribution rate is 10%, and tax rate is 20%.

Individual Retirement Account- Traditional: ($1,000 - ($1,000 * 10%) = $900 - ($900 * 20% tax) = $720 take home pay

Individual Retirement Account - Roth: ($1,000 - ($1,000 * 20 %) = $800 - ($800 * 20 % tax) = $640 take home pay

2. Know Yourself

Picking individual stocks to invest in requires time for researching and analyzing different stocks. If you are not willing or able to put in the necessary time for research, let someone else do it for you. There are several avenues you can take in the mutual fund and 401(k) world. This will allow you to pick the general investment sectors, areas of the world, and risk level you want to invest in, but a professional will take over from there.

Featured Local Company

Allstate Agent Kevin Tobin

203-237-2227
477 South Broad St
Meriden, CT

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