UA Executive-in-Residence Shares Tips to Survive “Life after College”

TUSCALOOSA, Ala. — Jonathan Pond, acclaimed author and financial media analyst, served as an executive-in-residence and guest speaker for The University of Alabama College of Human Environmental Sciences.

Pond led the presentation, “Life After College … Can You Afford It?” in which he detailed his top 11 strategies for college seniors and recent graduates.

Be flexible in your job search—Be willing to take good opportunities, not particular job titles. It takes perseverance. Be willing to start at the bottom, or in another field, and work to get where you want to be.

Start saving as soon as possible—Start saving 10 percent of your income. If you are saving for necessary big-ticket items, save more. If you start saving in your 20s, you’ll be fine by retirement age. Have that money taken out automatically—money that you can’t touch is hard to spend. Take advantage of matching retirement plans. 

Learn about investing—Now is a wonderful time to invest. You’ll thank yourself 10 years from now. Spread your money around stocks, bonds and temporary investments. 

Buy a house and pay it off in no more than 20 years—If you plan on living in a city for more than five years, you should buy instead of renting. 

Don’t squander your money on big-ticket items like cars—Cars depreciate in value too quickly to be considered an investment. “I buy cars with 100,000 miles and drive them until they have at least 250,000 miles.” Don’t lease. 

Protect your future from adversity—Develop healthy habits (it makes you a better employee and saves on health care expenses). Maintain health care coverage. 

Learn from the mistakes of others in this recession—Don’t use your home as a piggy bank. Kept debt such as credit cards and student loans to a minimum. 

Prepare for retirement everyday—Everything you do—saving, getting insurance and investing—up until retirement is considered preparation. 

Be a responsible child—Wean yourself off of your parents as soon as possible. 

Invest in your career—Stay up-to-date with your career and industry. Be competitive. Take care of yourself and stay as valuable and productive as possible. 

Be a good student, not the greatest student—Enjoy this time of your life. Just prepare and stay informed.

The College of Human Environmental Sciences is a professional school with a focus on enhancing the quality of life for individuals, families and communities. Throughout its history, the college has achieved a national reputation for excellence through the quality of its academic programs and faculty who are recognized as scholars and leaders in the generation of both basic and applied research.