QUOTED — In a Fox Business article regarding “10 ‘inflation-proof’ career and money tips”

“You want your purchases to increase your happiness, not weigh you down.”

Full article link: https://www.foxbusiness.com/lifestyle/college-graduates-inflation-career-money-tips

Graphics by Yrtist.com

College graduates need these 10 ‘inflation-proof’ career and money tips now,

by Cortney Moore, Fox Business, 06/05/22

7. Think about retirement and beyond

“Start saving and investing now, even if it is $20 a week or a couple hundred dollars a month, not just for retirement, but also for big events down the road, like buying a home or boat, or saving for a wedding — you can do this with a bank or investment account,” said Michael Ashley Schulman, the founding partner and chief investment officer at Running Point Capital Advisors, a California-based portfolio management company.

“If your company does not offer a 401K retirement plan, open an IRA account and try to start by placing at least 6% of your regular paycheck into retirement savings,” Schulman also said.

“You want your purchases to increase your happiness, not weigh you down.”

“I realize retirement can seem a long way off for a new college graduate, but the compound effects of long-term retirement saving and investing are immensely favorable.”

He added that new college graduates can consult financial advisers if they need guidance; they should make sure to avoid high-interest debt like pay-day lenders and credit cards.

“You want your purchases to increase your happiness, not weigh you down,” Schulman said.

Best wishes for the week ahead😊
Michael
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Michael Ashley Schulman

Michael Ashley Schulman

Avid traveler and art fan, also Partner & Chief Investment Officer @Running Point Capital, a multifamily office and ultra high-net-worth money-management firm