Its summer time…
Did you know that most senior college students who have a well-paying internship jobs, don’t have a retirement plan for their future? Well, I personally think this is a time bomb.
This only means that the paid college senior students now have a greater risk of financial hardship, regardless of their paid internship jobs.
The paid College senior’s students are becoming more and more desperate in terms of investing, and are less wiser when it comes to saving, spending, and investing their money.
According to Gene Perret about retirement: It’s nice to get out of the rat race, but you have to learn to get along with less cheese.
Let’s zoom In and see the 4 Incredible ways the paid college senior students can invest for their retirement.
- Emergency funds: Funding your emergency funds on a consistence basis can improve your investment per year. To take advantage of Dollar Costing Averaging, I’d advice that you be contribution on a monthly basis so as to buy when the market is down.
- 401k Investing: When you land a secure job that provides 401k contribution scheme, I’d advise you sign up as soon possible and start marching your contribution equal to your employer.
- Target Date Fund: If you don’t want to be bothered or disturbed by investment research, then this is probably your all-in-one shop. The target date fund will manage your money and move it conservatively as you get older. Have a goal of 2031+ target date. If you want to focus on other aspects of your life, then Target date funds are a great retirement saving tool.
- Invest in a 500 Index Fund: As a well-paid college senior student, you need to invest in 500 index fund because it’s a safe bet with steady returns. Invest majority of your cash and the remaining ones you can use to feel how other investment works.
Over to You
It’s pretty simple and fun to invest for your future so you can retire successfully without any debt. The key, though, is not just spending, but also maintaining discipline, consistency, and practicing smart investing.
If you want to have a true financial freedom, then practicing smart investing will help you a lot.
I’ll leave you with a quote from Hartman Jule where he says; Retirement has been a discovery of beauty for me. I never had the time before to notice the beauty of my grandkids, my wife, the tree outside my very own front door. And, the beauty of time itself.
Here’s What I Want You To Do Next (Your “Homework”)
If you have any suggestion or feedback, let me know below on the comment box and I’ll be more than happy to assist you.
If you are paid college senior student and you are looking for ways on how to invest, then the above tips can help you achieve your dream goal
I’ll be around today to answer questions and give guidance. So make sure to leave a comment right now.
Know any college senior student who would like this post? Please share!