The Financial Rules for New College Graduates: Invest before Paying Off Debt-and Other Tips Your Professors Didn't Teach You, 1st Edition

  • Michael C. Taylor
  • Published By:
  • ISBN-10: 1440861064
  • ISBN-13: 9781440861062
  • DDC: 332.024
  • 216 Pages | eBook
  • Original Copyright 2018 | Published/Released March 2019
  • This publication's content originally published in print form: 2018

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Having graduated from college with a degree, even the luckiest newly minted professionals-those who are able to quickly find a full-time job and support themselves-are often burdened with thousands of dollars in student loan debt. Many of these young professionals grow up hearing that they should not invest until their debt is paid off. Others fall too readily for investment scams or the siren call of instant entrepreneurship. Still others don't invest at all. From financial expert Michael C. Taylor comes a proposed means by which to not only pull oneself out of debt but to start building wealth from the first day on the job: adoption of modesty, skepticism, and optimism. The Financial Rules for New College Graduates explains that by embodying modesty, the opposite of status-seeking ostentation; skepticism, the ability to recognize scams, false promises, and the hyperbole and short-sightedness of financial media; and optimism, the belief that financial security can be yours with little to no risk, anyone can attain financial security. The early chapters address the role of interest rates, compound interest, and discounted cashflows, while the remaining chapters explore each of the most consequential personal finance choices that recent graduates will make in the first ten years of their career.

Table of Contents

Front Cover.
Half Title Page.
Title Page.
Copyright Page.
What’s Stopping You from Achieving Wealth?.
1: You Should Be Wealthy.
2: On the Financial Infotainment Industrial Complex.
Finance Math Concepts for Life.
3: On Interest Rates.
4: On Compound Interest.
5: On Discounting Cashflows.
Just Starting Out: Getting to Surplus.
6: On High-Interest Debt.
7: On Saving.
8: On Low-Interest Debt.
9: On Retirement Accounts.
10: On Taxes.
11: On Cars.
12: On Houses.
Moving Along: Now That You Have a Financial Surplus.
13: On Investing: Efficient Markets.
14: On Investments: Risky and Not Risky.
15: On Investment Advisers.
16: On Insurance.
17: On Work.
Feeling Wealthier.
18: On Retirement.
19: On Estate Planning.
Finishing Strong: How Will You Know If You’re Wealthy?.
20: On Death.
21: Epilogue: On Being Wealthy.
Selected Bibliography.
About the Author.