{"id":28609,"date":"2017-06-15T14:27:04","date_gmt":"2017-06-15T18:27:04","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=28609"},"modified":"2017-06-15T14:27:04","modified_gmt":"2017-06-15T18:27:04","slug":"business-report-financial-gifts-tips-new-graduates","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/06\/business-report-financial-gifts-tips-new-graduates\/","title":{"rendered":"Business Report: Financial Gifts, Tips, For New Graduates"},"content":{"rendered":"
\"\"
Breanna Lundy is a financial advisor with Edward Jones Financial in Greenwich.
Courtesy Edward Jones Financial<\/figcaption><\/figure>\n

By Breanna lundy<\/p>\n

It\u2019s graduation season again. If your child is graduating from high school or college, you have reason to celebrate. But what should you give to your newly minted diploma holder? You might want to consider offering a combination of financial gifts and tips, which, taken together, could set your graduate on a path toward a successful, independent life.<\/span><\/p>\n

What sort of gifts and tips should you consider? Here are a few ideas:<\/span><\/p>\n

\u2022 Give a few shares of stock.<\/span><\/p>\n

Everyone should understand the financial markets and how they work. One great way to encourage this interest is to give your child a few shares of stock. Young people enjoy owning a piece of a company that makes the products and services they like \u2013 and the very act of ownership can inspire them to learn more about investing and to ask questions:<\/span><\/p>\n

What causes the stock price to go up or down? How long should I hold this stock? Should I own several stocks like this one, or is it better to branch out to find new opportunities? Over time, in learning the answers to these and other questions, your child can become familiar with investing and how to make the best choices.<\/span><\/p>\n

\u2022 Encourage your graduate to open an IRA. Your child can open an IRA as long as he or she has some earned income. You might want to suggest that your child consider a Roth IRA, which, at the child\u2019s age and income level, may be a good choice.<\/span><\/p>\n

With a Roth IRA, children can access their contributions at any time, tax- and penalty-free. They can\u2019t touch the earnings without incurring both taxes and penalties, however, until they reach 59\u00bd. But you will want to encourage them to keep the money in their IRA intact, giving it the chance to grow.<\/span><\/p>\n

\u2022 Provide some financial education.<\/span><\/p>\n

Unfortunately, most young people don\u2019t really receive any kind of formal financial education. Of course, you can try to provide some of this knowledge to your own children, but, as you know, advice from mom and dad sometimes gets ignored. However, you might get better results if you arrange for your recent graduate to meet with a financial professional.<\/span><\/p>\n

As mentioned above, owning stocks, and following their progress, can teach your children a great deal about investing, but a financial professional can paint the \u201cbig picture\u201d and explain how all aspects of money management \u2013 such as borrowing, budgeting, saving and investing \u2013fit together to help individuals stay in control of their finances and make progress toward their important financial goals, such as buying a house and retiring in comfort. Recent graduates, whether leaving high school or college, are at \u201cturning points\u201d in their lives and can benefit greatly from understanding the importance of developing good, lifelong financial habits.<\/span><\/p>\n

Lundy is a financial advisor with Edward Jones Financial in Greenwich.<\/i><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

By Breanna lundy It\u2019s graduation season again. If your child is graduating from high school or college, you have reason to celebrate. But what should you give to your newly minted diploma holder? You might want to consider offering a combination of financial gifts and tips, which, taken together, could set your graduate on a […]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"yoast_head":"\r\nBusiness Report: Financial Gifts, Tips, For New Graduates - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/06\/business-report-financial-gifts-tips-new-graduates\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Business Report: Financial Gifts, Tips, For New Graduates - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"By Breanna lundy It\u2019s graduation season again. 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