As high school and college seniors graduate, many are faced with the financial predicament to spend versus save. Despite some college programs, like
Samantha Gioffre, a graduate of Roy C. Ketcham High School, is heading to
Jim Santangelo, a certified financial planner, has advice for graduates such as Gioffre: to save and invest as much as possible.
Santangelo says that students heading to college should invest in growth mutual funds, which offer diversity and long-term growth. For graduates not going to college, Santangelo points to the importance of investing maximum amounts in tax-deferred 401(k) plans offered from employers.
With the softness in the economy, it does make it a little harder for those college grads to find a position, Santangelo said, But if youre working, I suggest save, save, saveinvest, invest, invest.