London Daily

Focus on the big picture.
Friday, Nov 06, 2026

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

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
Office for National Statistics Reports Stable Consumer Confidence and Modest Retail Growth Heading into Winter
Welsh Government Launches Strategic Regional Transport Initiative to Modernize Rail Links Across South Wales
Home Office Expands Digital Border Security Controls and Electronic Travel Authorisations for Inbound Visitors
Scottish Government Announces Emergency Housing Investment Package to Tackle Urban Homelessness Crises
Northern Ireland Executive Reaches Bipartisan Consensus on Public Sector Pay Reform and Budget Allocations
Automotive Manufacturing Sector in the West Midlands Welcomes New Electric Vehicle Supply Chain Investments
Department for Energy Security and Net Zero Approves Offshore Wind Expansion in the North Sea
HM Treasury Finalizes Regulatory Framework for Stablecoins and Digital Asset Markets in London
National Health Service Unveils Comprehensive Digital Integration Strategy to Slash Hospital Waiting Lists
Bank of England Leaves Interest Rates Unchanged Amid Persistent Wage Growth and Inflationary Pressures
United Kingdom and Caribbean Nations Agree to Establish Formal Diplomatic Dialogue Following Reparations Discussions
Cambridge University Appoints Senior Barrister to Lead Independent Review into Death of Academic Jason Arday
Historic Hastings Castle and Kent Dickens Chalet Added to National Heritage at Risk Register Amid Deterioration Concerns
Incoming British Ambassador to Japan Calls for Deepened Bilateral Cooperation on Artificial Intelligence and Semiconductors
Milburn Review Urges Employment Revolution to Unlock Workforce Opportunities for Young Disabled Britons
British Healthcare Worker Evacuated from Democratic Republic of Congo to United Kingdom Following Ebola Exposure
United Nations Refugee Agency Criticises Government Proposal for Thirty-Year Earned Settlement Pathways for Asylum Seekers
Parliamentary Inquiry Warns United Kingdom Remains Exposed to Chinese Critical Mineral Dependencies
Bank of England Prepares Interest Rate Decision as Inflation Pressures Prompt Expectation of Four Percent Benchmark
Department for Business and Trade Overhauls Protection Standards for Digital Animation and Moving Image Files
Intellectual Property Office Introduces Thirty-Month Grace Period for International Product Launches
Intellectual Property Office Targets Anti-Competitive Filings With New Powers to Verify Novelty Before Registration
Creative Industries Minister Ian Murray Praises Regulatory Reforms to Safeguard Small Businesses and Micro-Enterprises
Government Unveils Major Design Framework Overhaul to Protect British Creators and Boost Economy
Global Asset Management Reports Surge in British Dividend Payouts Driven by Strong Financial and Mining Sectors
HM Treasury Confirms Strongest Group of Seven Growth Figures as Fiscal Consolidation Plans Progress
Department for Energy Security and Net Zero Approves Construction of New North Sea Offshore Wind Hub
Northern Ireland Executive Finalizes Public Sector Pay Agreements Following Months of Inter-Agency Negotiations
Welsh First Minister Eluned Morgan Secures Cross-Party Support for Regional Clean Energy Infrastructure Bill
Competition and Markets Authority Launches Formal Investigation Into Dominant Artificial Intelligence Cloud Partnerships
United Kingdom Foreign Secretary David Lammy Concludes High-Level Diplomatic Mission to Washington and Ottawa
Scottish Government Announces Emergency Housing Investment Package to Address Escalating Urban Homelessness
Chancellor Rachel Reeves Finalizes Corporate Tax Adjustments Ahead of Upcoming Business Investment Summit
National Health Service England Unveils Emergency Winter Resilience Plan to Combat Projected A&E Overcrowding
Bank of England Monetary Policy Committee Votes to Hold Base Interest Rate Steady at Four Point Seven5 Per Cent
UK Gross Domestic Product Expands by Zero Point Four Per Cent in Third Quarter Driven by Resilient Services Growth
Northern Ireland Executive Agrees on Multi-Year Public Sector Pay Restructuring Framework at Stormont
Department for Transport Confirms Acceleration of Electric Vehicle Charging Infrastructure Rollout Along Strategic Motorways
Welsh Government Announces Emergency Funding Package to Support Agricultural Sector Facing Severe Weather Impacts
High Court Rules in Favor of Environmental Coalition Over Government Carbon Reduction Plan Deficiencies
Office for National Statistics Reports Stable Retail Sales Growth Supported by Strong Digital Commerce Volumes
Scottish First Minister John Swinney Secures Cross-Party Support for Renewable Energy Export Expansion
National Health Service Digital Reports Major Breakthrough in Reducing Elective Waiting Lists Across England
Chancellor Rachel Reeves Outlines Infrastructure Spending Reforms to Boost Regional Economic Growth Across Northern England
Bank of England Holds Baseline Interest Rate at Five Percent Amid Persistent Core Inflation Pressures
House of Lords Advances Representation of the People Bill to Modernize Electoral Law Ahead of General Election
Financial Markets and Private Equity Assess Tax and Corporate Realignment Following Recent Chancellor Budget Adjustments
Justice Committee Warns Legal Aid Is a Service in Managed Decline Due to Inadequate Government Funding Responses
Royal Navy Intercepts Russian Intelligence Vessel and Warships Across Intensive North Sea Operations
Business and Trade Committee Slams Government Policy on China as Fragmented and Lacking Strategic Direction
×