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Investments Tips For College Graduates New Jersey

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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Enterprise Bank
732-205-9700
3900 Park Avenue, Suite 108
Edison, NJ

Habib American Bank
732-205-1777
1667 Oak Tree Road
Edison, NJ

Indus American Bank
732-603-8200
1536 Oak Tree Road
Iselin, NJ

Investors Savings Bank
732-767-0908
1655 Oak Tree Road, Ste
Edison, NJ

Metuchen Savings Bank
732-549-4452
50 Pearl Street, PO Box 431
Metuchen, NJ

PNC Bank
732-205-8311
1730 Oak Tree Road
Edison, NJ

Skylands Community Bank
732-494-8444
1943 Oak Tree Road
Edison, NJ

TD Bank
732-494-2007
2064 Oak Tree Road
Edison, NJ

Unity Bank
908-713-4553
1746 Oak Tree Road
Edison, NJ

Retiring in Comfort Workshop/Part of Intercounty Mortgage Network
732-264-2700
3400 Rt 35, Suite 1
Hazlet, NJ

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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

Enterprise Bank

732-205-9700
3900 Park Avenue, Suite 108
Edison, NJ

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