Are you just beginning your journey toward investing or know someone graduating from high school or college? On today’s show we’ll field a letter from Jonathan with some help from our friend Christine Benz at Morningstar. What things should graduates and new savers think about first? Where do they make mistakes? What resources and books are great reads? We’ll tackle all of those questions during today’s episode answering your questions!
We’ll also tackle a question about target-date funds. Why do most target date funds stink? We’ll explain. Also – have you thrown away your stimulus money accidentally? If it hasn’t come yet, there’s a good chance you have. We’ll explain why there’s been such a mix up on today’s show. We’ll also wonder aloud about the news last week out of Silicon Valley. Has COVID-19 created a new normal for workers which includes working from anywhere? Twitter says “Yes,” and Facebook says….”Maybe.” We’ll explain.
Show Notes:
Headlines:
- Don’t toss that junk mail in the recycling bin just yet — it might contain your stimulus check in the form of a prepaid debit card (MarketWatch)
- With remote work plan, Facebook dashes hopes of paycheck arbitrage (Reuters)
Today’s Letter Bag: Advice For New Investors and College Graduates
Tim writes in asking about Target Date Funds. He remembers we didn’t have the best things to say about them in the past, and is looking for some reasoning why. What’s the big deal?
In our second letter, Jonathan is looking for books to give to a friend’s daughter who is about to start working full-time. While we do answer Jonathan’s question, we also widened the scope a bit: what should freshly graduated adults be doing right now in general?
Christine Benz from Morningstar recently wrote an article on this exact subject (which you can find HERE), and she was nice enough to call in and give some of her advice on-air. A big thanks to Christine! You can find more at Morningstar.com.
Now, as for Jonathan’s question, here are the books we mentioned during the show – plus episode links for the authors we interviewed:
- Brian Ursu – Now What
- Colleen Bordeaux – Am I doing This Right
- Scott Trench – Set For Life
- Erin Lowry – Broke Millennial
- George S. Clason- Richest Man in Babylon
- David Bach – Automatic Millionaire
- Peggy Klaus – Brag
- Keith Ferazi – Never eat alone
- Susan RoAne – How To Work a Room
We dove pretty deep into these questions, so that’s all the time we had for today. If there’s a question you’ve been wanting answered, consider calling into our Haven Life Line below. You’ll be able to hear an answer on-air in a couple of weeks!
Doug’s Trivia
- How many hours does the average full-time American work per week?
Haven Life Line
- Tami calls in asking if she should shift some of her portfolio allocation to a fund that’ll increase her future earnings. Thoughts?
Want the guys to answer your question? You can call into the Haven Life Line and get your question answered on-air HERE.
Join Us Friday
So you’ve started investing and graduated college. What now? On Friday we’re chaning things up a bit with a piece from the Harvard Business Review. With everything going on in 2020, how you can put yourself in a position to not only be a good financial resource for the people around you, but also a person that has a deeper understanding of others?
[…] Our Best Advice for New Investors and College Grads […]