Clueless: What Graduates Need to Know About Making Financial Decisions
by William Reichenstein and Tom Potts
Today’s college graduates are usually enthusiastic and well-trained in their discipline.
But they are often clueless about financial matters.
In this article
- A Tale of Two Graduates
- Procrastination Is Expensive
- The Moral of the Story
- A Primer on Savings Decisions
- A Primer on Retirement Plans
- A Basic Primer on Investments
- A Primer on Investment Decisions
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Unfortunately, the fallback position is typically to do nothing. But these early-year “non-decisions” can have a detrimental effect on their financial well being throughout their working lives, and especially in retirement. If only they had known how important it is to make good decisions in these early-year financial matters!
This article is aimed directly at the younger generation, and it designed to help them avoid such financial mistakes.
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Tom Potts , Ph.D., CFP, is a professor of finance at Baylor University and can be reached at Tom_Potts@baylor.edu.