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08.29.2011 / Smart Investments for Young Adults

Young adults just beginning their college and professional careers are often unsure of when and how to begin investing. Early investments can become a powerful tool in helping you realize your dreams and financial goals. Starting investments of $500 to $5000 can help you get into the game.

" Early investments can become a powerful tool in helping you realize your dreams and financial goals"

Invest in your education

Attending college and investing in your education is a major expense, but will pay off in the long run. Those who earn college degrees earn nearly 50 percent more than those who do not.  There are a variety of loans available to help you complete your degree in addition to the Free Application for Federal Student Aid  www.fafsa.ed.gov/. It’s also necessary to learn the importance of money management during college. Live within your means, respect credit cards and practice smart savings to establish a successful personal foundation to build upon after graduation day.

Start your retirement savings with your first job

If your employer offers to match contributions to a 401k plan, don’t hesitate to contribute at least as much as they will match. If your employer does not offer a retirement plan, visit a First National Bank branch or call (402) 346-FNBO (3626) to discuss other options such as an IRA account. Save at least 3% of each paycheck since starting your retirement savings early can make a big difference in maintaining your lifestyle upon retirement. 

Open a CD

Certificates of Deposit are one of the safest investments you can make. They are insured by the FDIC and have the least risk among high yield accounts such as mutual funds, stocks and other private equity investments. With a wide range of fixed terms and interest rates, you decide how long you want to lock in your savings. Typically, a longer fixed term will receive higher interest. First National Bank offers CD's with competitive interest rates and a variety of terms, ranging from 91 days to 5 years.

Setting aside money for investments can be challenging while you are beginning your career, but taking control of your financial future will benefit you and help achieve your future goals.  First National Bank has the expertise to guide you through your investments.

Do you have any tips on setting aside money?  Post your comment now.

Posted at 10:58 AM | Permalink
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