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10 Money Tips for College Grads

College Education
Written by Guest Blogger · 27 August 2014

By Brian Page, a nationally celebrated financial educator and advocate.
He is currently developing a Financial Skills blended learning program for LifeDojo. You can follow him on Twitter @FinEdChat.

 

1. Invest for retirement right away by fully matching your employer’s retirement plan

  • Explore the magic of compounding by calculating what would happen if you invested $10 a day ($3,650 a year) beginning at age 22, earning the market average of 7%.
  • Be alarmed by what happens if you invest and earn the same amount but wait until you are 35 to begin to invest.
  • Get motivated by the returns you would experience by contributing 5% of your income beginning at age 22, and benefiting from a matching contribution of an additional 5% of free money from your employer earning the market average of 7%. The free money match is the greatest advantage of a 401(k) or 403(b).
  • Use this handy list of questions when interviewing financial planners. Above all, make sure your financial planner adheres to the fiduciary standard, legally binding them to put your best interest ahead of their own.
  • To learn more, have a peek at the Department of Labor new job Entrants guide.

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Saving For College? These Plans Make the Grade

College 529 Plans
Written by Guest Blogger · 26 August 2014

Lori Schock, Director, Office of Investor Education and Advocacy, U.S. Securities and Exchange Commission

Parents looking for a way to save for a child's college education should consider investing in a 529 plan. Authorized by Section 529 of the Internal Revenue Code, these are tax-advantaged savings plan sponsored by states, state agencies and educational institutions, designed to encourage saving for future college costs.

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Airman Succeeds Through Dedication to Building Wealth Not Debt

Written by Super User | October 13, 2011

I came into the Air Force at 23 years old in 1993 with about 12 outstanding bills (hospital bills, car loan, car insurance, school loans, credit cards, etc.). You name it, I had the bill. Thanks to the Family Support Center, Dave Ramsey's Financial Peace University, and many other sources, I now have no outstanding bills.

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Meet Wacinque BeMende

Written by Super User | November 26, 2010

Meet Wacinque BeMende. He’s so passionate about encouraging savings and promoting financial literacy, he’s established his own Kid’s Savings Program. Wacinque donated $15,000 to the Community Action of Laramie County in Cheyenne Wyoming to begin the Wacinque “ Rhino” Fund Endowment to help kids open savings accounts.

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Relevant Finance from First National Bank

Written by Super User | November 26, 2010

From Get Smart About Credit Day in October 2008 through Military Saves Week in February 2009, participants learned the financial facts of life. Lessons were focused on check writing, understanding the stock market, credit cards, differentiating between needs and wants and budgeting.

In one session First National Bank personalized the ABA Education Foundation’s Teach Children to Save Money Tree lesson with an emphasis on saving. The lesson taught students how to manage money and pay bills while saving.

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