Arab Press

بالشعب و للشعب
Friday, May 29, 2026

0:00
0:00

J.P. Morgan’s wealth management guru has some advice for recent college graduates on managing money and building wealth

For students graduating college, the number they are concerned about is not a grade anymore - it is the number in their bank account. At least, that is what recent data shows. According to Federal Reserve data from 2021, more than 40% of college adults took on student debt. With financial literacy a well established key closing the wealth gap, J.P. Morgan says it is never too early to start thinking about money matters.

“Finances play a major role regardless of post-graduation plans,” head of J.P. Morgan Wealth Management Sam Palmer says. “Recent graduates might be starting to pay off student debt or invest for retirement. Those who learn about managing money when they’re young are often able to better handle their finances as adults.” For young graduates, it is all the more imperative because those entering the workforce are doing so at a time of immense volatility in the markets.

So what can rookie professionals do to manage money better, especially in today's economic climate? Fortune spoke with Palmer to gain insights into how recent graduates can see more green.


Think about the future


For graduates just starting a career, it might seem counterintuitive to think so far ahead. After all, they are young, and things like retirement seem light-years away. But Palmer says taking steps now can help graduates secure financial well-being in the future. Young professionals can take steps towards financial freedom even before they first set foot in the office.

Investing early, for instance, could set a recent graduate up well just a couple of decades down the line. “If someone were to start investing at age 22 versus age 42, the amount of money years later would look very different,” Palmer says. “If someone saved $200 a month, they’d have about $48,000 in 20 years. But if they invested $200 a month for 20 years, they could potentially have about $116,000 in a very strong market or about $82,000 in a median market.”

The job hunt also presents an opportunity for recent graduates to think about the future. Palmer urges job seekers to take advantage of employer-sponsored retirement plans. Another key is 'maxing out' your employer's match, so try to stretch and contribute as much as your company will match so you aren't leaving any money on the table.

“We all know there are things we know that we should do, but we don’t because the benefits are only felt down the road,” Palmer says. “For example, someone might know they should order a kale salad today, but French Fries taste much better right now.”


Stay organized and prepared


Recent graduates likely spent time organizing to-do lists, filling out planners, and categorizing notes and assignments throughout college. Now that they enter the workforce, young professionals will likely need to apply those organizational skills to their own finances.

“To stay organized, it’s very important to centralize personal financial information in one place and also think about short-term and long-term goals,” Palmer says. “Having a clear view of their full financial picture will help recent grads make better decisions and be confident about their plan.”

What kind of plans prove useful to young professionals? Palmer advocates for a ground-up approach. Recent graduates need to take advantage of resources that “build on a strong foundation of financial health” in order to set them up for the future. Checking credit scores, for example, can help rookies get a picture of their financial health and take steps to improve it.

Plans that help them see the full picture can also make tasks like budgeting—which Palmer admits is tough for young professionals—easier to track. Clear, coherent organization can also help them be prepared and set aside money for an emergency fund, which Palmer recommends lasts 3-6 months.

Palmer says that, sometimes, being adequately prepared for the future might mean sacrificing independence. According to a study by Qualtrics, nearly a third of people born in the late 90s and early 2000s between the ages of 18 and 25 live with their parents or other relatives. "Living with parents can help lower costs while recent graduates start a career or graduate school, build up an emergency savings account or start paying off student loans," he said.


Can debt actually be good?


For people in college, words like “student debt” most likely sent shivers down their spines. Debt has long been treated as the financial equivalent of “stranger danger” - Palmer says most people are taught to avoid debt throughout their life. However, recent graduates can learn to use debt and student loans to their advantage.

Some people, for example, have longer than they think to pay off student loans, making them eligible to invest on the side. “Many people think they must pay off debt before investing, but the reality is that you can do both,” Palmer says. “In some cases you can get more from your money by investing for your long-term goals. Many people also think they need to reach a certain salary or net worth threshold to start investing. This isn’t true.”

Of course, when investing and paying off student loans at the same time, it is important for young professionals to be extra vigilant. Palmer warns about putting all of your eggs in one basket, especially in the stock market. The wealth management head points to the recent influx of meme stocks as an example of volatility. When it comes to securing returns in volatile periods, Palmer heeds the advice of many other advisors: a diverse portfolio is crucial. And even if you're just starting out, do your research. “If investing, recent graduates should consider talking to an advisor,” Palmer says. “If they’re going to invest on their own, they should make sure to take advantage of educational resources.”

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Japanese Technology Firm Fujitsu Launches Advanced Artificial Intelligence Tool for Corporate Disclosures
South Africa Officially Launches Nationwide Campaign for Highly Contested Local Government Elections
United Kingdom Commits Additional Funding for Unexploded Ordnance Clearance in Laos
Singapore Announces Stringent New Greenhouse Gas Regulations for Commercial Cooling Systems
Cambodia and Thailand Hold High-Level Border Security Talks at United Nations Headquarters
Myanmar Military Government and China Sign Major Agreement to Upgrade Media and Cultural Cooperation
Knife Attack at Swiss Train Station Leaves Three Injured in Suspected Act of Domestic Terrorism
Transnational Extortion Gang Threatens Canadian Police With Army of One Thousand Armed Operatives
Australia Imposes Forty-Two-Day Quarantine on Cruise Ship Passengers Following Deadly Hantavirus Outbreak
International Monetary Fund Unlocks Seven Hundred Million United States Dollars for Sri Lanka Following Economic Reforms
Australia Launches Record One Point Four Billion Dollar Lawsuit Against Chemical Giant 3M Over Contamination
China and Canada Foreign Ministers Meet in Ottawa in Effort to Stabilize Strained Diplomatic Ties
Indonesia Demands Urgent United Nations Security Council Reform Amid Escalating Global Conflicts
Extreme Weather Patterns Trigger Severe Drought in Madagascar and Destructive Flooding in East Africa
Indian State of Karnataka Faces Political Upheaval as Chief Minister Siddaramaiah Abruptly Resigns
Philippines and Japan Reaffirm Defense Ties as Crucial for Indo-Pacific Regional Stability
Norway Joins French Nuclear Deterrence Initiative in Major Shift for European Security Architecture
Global Critical Mineral Alliances Expand as Western Nations Move to Counter Chinese Supply Dominance
United States Imposes Fifty Percent Tariffs on Mexican Steel and Aluminum Ahead of Trade Pact Review
European Union and China Head Toward Major Trade Conflict Over Clean Technology Exports
United States Economic Growth Severely Downgraded to One Point Six Percent as Stagflation Fears Mount
World Health Organization Warns Central African Ebola Epidemic is Outpacing Containment Efforts
United States Treasury Department Conditions Sanctions Relief on Reopening of the Strait of Hormuz
Iranian Air Defenses Intercept and Destroy United States Military Drone Over Bushehr Province
Iranian Armed Forces Launch Ballistic Missiles Toward Unspecified Targets Prompting Regional Condemnation
United Nations Secretary-General Warns Global Order Facing Highest Level of Conflict Since 1945
Israel Issues Sweeping Evacuation Orders in Southern Lebanon Amid Intensified Hezbollah Conflict
Russia Announces Systemic Military Strikes Targeting Ukrainian Defense and Energy Infrastructure
United States and Iranian Negotiators Reach Draft Agreement to Extend Ceasefire and Resume Nuclear Talks
United Nations Security Council Deeply Divided Over United States Capture of Venezuelan President
US and Iran Exchange Direct Military Strikes Amid Fragile Gulf Ceasefire
World Health Organization Warns of Catastrophic Ebola Outbreak in DR Congo
Russia Threatens New Wave of Strikes on Ukrainian Infrastructure and Embassies
Scientists Warn Atlantic Ocean Currents Could Collapse Faster Than Projected
Anthropic Reaches $900 Billion Valuation in Historic AI Funding Round
Washington Imposes Crippling Sanctions on Iranian Maritime Authority
Japan and the Philippines Initiate Strategic Intelligence-Sharing Pact
Microsoft Deploys Autonomous Computer-Using AI Agents to Global Markets
Anthropic Secures $45 Billion Compute Infrastructure Agreement With SpaceX
U.S. Director of National Intelligence Resigns Amid Administration Shakeup
Micron Technology Crosses Trillion-Dollar Valuation Amid Unprecedented Hardware Demand
Canada and Germany Finalize Historic Long-Term LNG Export Agreement
China Expands International Travel Restrictions on Domestic AI Researchers
Japan Approves Sweeping Overhaul of National Intelligence Apparatus
Global Airlines Scramble Logistics as Middle East Airspace Remains Fractured
Japan's Naphtha Imports Plunge 47 Percent Amid Strait of Hormuz Closure
Global Crude Prices Retreat Below $96 as Gulf Tensions Momentarily Ease
Generative AI Outperforms Human Baselines in Landmark Global Creativity Study
NASA Partners With Private Aerospace to Unveil Permanent Lunar Base Architecture
South Korean Equity Markets Surge on Next-Generation Memory Chip Frenzy
×