By Lauren Young, Digital Special Projects Editor
|
|
|
|
Welcome to this week's edition of On the Money!
Launching a child is one of life’s greatest achievements. When my son Leo graduates from Haverford College this Saturday, I will not only celebrate his academic accomplishments – I also will toast the important financial skills he learned in the past four years.
Leo participated in an investment management club, which is helping him become a savvy investor. He applied for his own credit card in an effort to build a solid credit score. And he is already saving for retirement in a Roth IRA – with money from last summer's internship. Leo did all of this on his own, without any guidance (or nagging!) from his parents.
Kudos to my kid and the entire Class of 2026!
Money is always a great graduation gift, but if you’re looking for a other ideas, I recommend Jodi Kantor’s new book, “How to Start.” And if you know someone who is about to graduate, please share this week’s newsletter with them!
While you’re at it, be sure to follow our On the Money coverage here. And connect with me on LinkedIn, where I’m always posting the latest Reuters news.
|
|
|
When it comes to living in New York City and saving for retirement in your 20s, should you pay taxes now or later? REUTERS/Bing Guan
|
🛟 I’m 26. What retirement plan should I pick? |
Deciding how to invest your retirement savings in your 20s can feel a bit like a high-stakes game of "Guess-My-Future-Tax-Bracket" roulette.
For Carly, a 26-year-old professional earning $80,000 in New York City, the choice between a Roth 401(k) and a traditional 401(k) isn't just about the immediate financial impact – it's about a long-term strategy, with an emphasis on taxes.
Carly’s employer offers a generous 6% match on a Fidelity-managed retirement program with immediate vesting. Carly also has $12,000 in a separate Vanguard Roth IRA, and is wondering what to do with that money.
I polled 20 financial experts. Here is their advice, which is valuable for anyone – including the Class of 2026 – entering the workforce.
This article is part of my A$K Lauren series. If you have a personal finance question, please reach out to me at onthemoney@thomsonreuters.com.
|
|
|
|
|
Are weed stocks your portfolio's next high? The U.S. cannabis market, valued at $40 billion, may see renewed momentum after President Donald Trump’s proposal to reschedule marijuana as a less dangerous drug, though institutional investment hurdles remain.
Watch the interview here.
|
|
|
|
🍦 The post-college Froyo pivot |
Neil Hershman at a 16 Handles store. Courtesy 16 Handles/Handout via REUTERS
|
Speaking of college, before Neil Hershman enrolled at George Washington University, he – unsuccessfully – asked his parents to cash out his college fund to start a business.
After a brief stint in finance, Hershman decided to buy a franchise. Now in his early 30s, he serves as the chief executive officer of 16 Handles, overseeing roughly 40 franchised frozen yogurt locations along with six of his own.
The path to becoming a Froyo mogul has its twists (pun intended) and turns.
Read about Hershman’s massive mistakes – no health insurance! – and big career wins here.
|
|
|
|
👩🏽💻 Why this 26-year-old software engineer doesn’t want a promotion |
Kaylin Moss, a 26-year-old software engineer from South Carolina. Courtesy Kaylin Moss/Handout via REUTERS
|
Gen Z and millennials are projected to dominate the global workforce by 2030, and they’re bringing with them different ideas of what career progression should look like.
Only 6% of Gen Z say their primary career goal is a leadership title, with many preferring to prioritize work-life balance and development, according to Deloitte’s 2025 Gen Z and Millennial Survey.
In fact, for some members of Gen Z, a more senior title also means more meetings, more responsibility and less freedom — so they’re simply saying no.
Read why Kaylin Moss, a 26-year-old software engineer, doesn’t want a promotion.
|
|
|
|
|
I have lots of personal finance ideas, but the very best stories are inspired by questions from readers! What do you want to know about saving, spending, crypto, healthcare, credit and more? Write to me at onthemoney@thomsonreuters.com.
|
|
|
|
💰Follow the latest Middle East news |
|
|
|
This newsletter was edited by Mark Porter.
|
|
|
|
|
| |
|
|
Reuters On the Money is sent every other week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you’ve engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions |
|
| |
© 2026 Thomson Reuters. All rights reserved.
3 Times Square, New York, NY 10036 |
|
|
|
|
|
No comments:
Post a Comment