Dear Graduate,
You have now obtained a degree. While this doesn’t show you to have any particularly useful skills, save for a few notable professions, it will make you employable in the corporate world. You now have a choice to make: You can join the majority, have a career, and work for the next 30 years while dreaming of retiring to Florida someday, unless prematurely stopped by a heart attack, or you could retire in five years.
For the former, the cookie-cutter lifestyle, allocate 15% of your income to a so-called retirement account (401k, IRA, etc.) and invest it in an index fund (I suggest 50% world and 50% US), and buy a house in the suburbs so you can start itemizing your deductions. Get a mortgage you can understand (e.g. 6% fixed for 360 months). Pay attention to the resale value. Also, buy a car that will survive the commute. Equip the house with furniture, entertainment electronics, and a barbecue. Don’t make any modifications to the house. While it may be cool to have a fireman’s pole from the attic, this will not help the resale value. If you get married, don’t get divorced, or at least get a prenup. Hire an accountant, a lawyer, a gardener, a plumber, a babysitter, a personal trainer, etc. for the things you don’t have time or skills to do yourself, and you’ll be set.
For the latter option, you’ve got some learning to do. It is very likely that you do not know…. Read the rest here: