Michael Joyce, Agili President, gives financial advice for young professionals

Michael Joyce, Agili President

In this interview with NBC12, Michael Joyce shares his financial advice for those just starting out in the workforce.


Tip #1: Contribute Immediately to a 401(k)

Michael reports that he told his older sons to contribute to their companies’ 401(k)s as soon as they began work. He suggests investing 10% of gross pay into a 401(k) plan immediately – so that you never miss that money.


Tip #2: Start an Emergency Fund

Another tip? Michael says it’s important to save 3-6 months of expenses in a low-earning savings account in the event of a financial emergency.


Tip #3: Pay Off Credit Cards Immediately

Lastly, Michael thinks we should all have a credit card (for emergencies), but he recommends paying it off every month.


For more financial advice for young professionals, check out Financial Planning Analyst Grant Wilburn’s recent blog post: Financial Management for Young Adults