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Investments Tips For College Graduates Maryland

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.

Local Companies

First Financial Group
(240) 401-2682
323 Oak Knoll Dr.
Rockville, MD

Orrstown Bank
717-597-7596
210 South Cleveland Avenue
Hagerstown, MD

Friedland Financial Planning
(301) 309-1988
2275 Research Boulevard, Suite 500
Rockville, MD

LawLeaf
Online
12 Muddy Lane
Elkton, MD

mycashwell.com
866-95-CASH4 (866-952-2744)
1010 Wayne Ave.
Silver Spring, MD

The Kairos Group LLC
410.263.8125
1612 McGuckain Street
Annapolis, MD

Provident Bank
410-277-2698
114 E Lexington Street
Baltimore, MD

Genworth Financial
240-506-4611
2915 Ascott Lane
Olney, MD

The Lewis Financial Group
(443) 622-0561
517 Harwood Ave.
Baltimore, MD

New York Life
410-740-4727
10480 Little Patuxent Parkway Ste 500
Columbia, MD

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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

First Financial Group

(240) 401-2682
323 Oak Knoll Dr.
Rockville, MD

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