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Investments Tips For College Graduates Minnesota

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

City-County Federal Credit Union
(763) 549-6000
6160 Summit Dr
Brooklyn Center, MN

Edward Jones - Fisher
(952) 881-3124
9919 Lyndale Ave. S
Bloomington, MN

The Goff Group / Merrill Lynch
(612) 349-7896
60 South Sixth St.
Minneapolis, MN

Edward Jones - Larson
(612) 926-8711
4250 Upton Ave. S.
Minneapolis, MN

St. Paul Federal Credit Union
(651) 227-8240
30 East Seventh St., Ste. 270
St. Paul, MN

Financial Visions
(612) 202-0942
10541 Abbott Ave. S.
Bloomington, MN

Mutual of Omaha Financial Advisors
(952) 888-2772
1650 West 82nd St., Ste. 1080
Bloomington, MN

ING Employee Benefits
(612) 342-3363
20 Washington Avenue S.
Minneapolis, MN

Merrill Lynch - Wayzata
(952) 476-5613
308 Walker Ave. S
Wayzata, MN

Northwestern Mutual Financial Network - Columns Resource Group
(612) 758-7600
100 Washington Square, Ste. 1200
Minneapolis, MN

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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

City-County Federal Credit Union

7635496000
6160 Summit Dr
Brooklyn Center, MN

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Environmental	Home Electronics	Pets	World History