London Daily

Focus on the big picture.
Monday, Feb 23, 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

0:00
0:00
Close
UK Police Officers Guarded 2010 Epstein Dinner Attended by Prince Andrew, Reports Say
US Trade Representative Affirms Commitment to Existing Tariff Agreements with UK and Other Partners
Kouri Richie's wrote a children’s book to help her sons grieve the death of their father. Now she’ll stand trial for his murder
New York Braces for Major Snowstorm With Up to 18 Inches Forecast and Blizzard Warnings Issued
Mexican Military Kills CJNG Leader Nemesio Oseguera Cervantes as Violence Erupts Across Jalisco
Metropolitan Police Deploys Palantir-Powered AI to Flag Potential Officer Misconduct
UK Parliament Rebukes Police Over Ban on Israeli Football Fans
Britain Emerges Among a Small Group of Nations Without a Religious Majority
UK’s Manufacturing Base at Risk as Soaring Energy Costs Weigh on Industry
Matt Goodwin’s Unconventional Campaign for Reform UK in the Gorton and Denton By-Election
US Military Movements in the UK Spark Speculation Over Preparations Related to Iran Tensions
UK Faces Significant Economic Risk From Trump’s New Global Tariff Regime
UK Defence Secretary Signals Intent to Deploy British Troops to Ukraine
UK Students Mark Lunar New Year as Universities Adjust to New Equality Compliance Rules
UK Government Weighs Removing Prince Andrew from Line of Succession After Arrest
Prince Andrew’s Arrest in UK Rekindles Scrutiny Over US Handling of Epstein Records
Trump’s Strategic Warning to UK Over Chagos Islands Deal Sparks Diplomatic Whiplash
Starmer Government Postpones Local Elections Affecting 4.5 Million Voters
UK Economy Remains Fragile Despite Recent Upturn in Headline Indicators
UK Businesses Face Fresh Uncertainty Following US Tariff Ruling
Reform UK’s Senior Figures Face Scrutiny Over Remarks on Women and Family Policy
UK Electric Vehicle Drive Threatened by Shortage of 44,000 Qualified Technicians
University of Kentucky Trustees Advance Academic Reforms and Approve Coliseum Plaza Purchase
Boris Johnson Calls for Immediate Deployment of UK Troops to Support Ukraine
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
North Korea's capital experiences a significant construction boom with the development of a new city district dubbed 'Pyonghattan'.
New electric vehicle charging service eliminates waiting times
Vox Populi confronts Justin Trudeau at Davos over vaccination policies
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
The mayor of Rotherham in Britain
One day after ex-Prince Andrew's arrest, British police are searching his former home, while U.K. lawmakers will consider introducing legislation to remove him from the line of royal succession
Vandana Shiva reminding the world that Bill Gates did not invent anything.
Italy's PM Giorgia Meloni highlights record employment and economic growth
UK Confirms Preferential U.S. Trading Terms Will Continue After Supreme Court Tariff Ruling
U.S. and U.K. to Hold Talks on Diego Garcia as Iran Objects to Potential Military Use
UK Officials Weigh Possible Changes to Prince Andrew’s Position in Line of Succession Amid Ongoing Scrutiny
British Police Probe Epstein’s UK Airport Links and Expand High-Profile Inquiries
The Impact of U.S. Sanctions on Cuba's Humanitarian Crisis: A Tightening Noose
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
United Kingdom Denies U.S. Access to Military Base for Potential Iran Strike
British Co-founder of ASOS falls to his death from Pattaya apartment
Early 2026 Data Suggests Tentative Recovery for UK Businesses and Households
UK Introduces Digital-First Passport Rules for Dual Citizens in Border Control Overhaul
Unable to Access Live Financial Data for January UK Surplus Report
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
UK ‘Working Closely with US’ to Assess Impact of Supreme Court Tariff Ruling
Trump Criticises UK Decision to Restrict Use of Bases in Potential Iran Strike Scenario
UK Foreign Secretary and U.S. State Chief Hold Strategic Talks as Tensions Rise Over Joint Air Base
Two teens arrested in France for alleged terror plot.
×