Comments on: They’re starting their 1st job — what you need to tell them

By: Nanette

Nanette — Mon, 25 Aug 2008 18:23:12 +0000

I have to forward this to my daughter! Just a few years ago, she was that 23 year old. As soon as she was eligible, she maxed out her 401k contribution and started contributing to a ROTH IRA as well. Do assume that they may need some things explained, but don’t assume that they are complete idiots, take the time to find out how knowledgable they are and go from there.

By: Joe Coute

Joe Coute — Mon, 25 Aug 2008 17:04:41 +0000

I agree with R.B… However, caution about giving advice regarding W-4 and retirement investments. While you may not be around when they retire, you could make your employer liable should the newbie have a beef about results. What may absolutely be in the employee’s best interest today, might be a sore point down the road. Stick to basic information, usually provided by your 401k provider and the instructions on the W-4.

By: R. B.

R. B. — Mon, 25 Aug 2008 16:56:55 +0000

These are good. I think there are some really practical things they should be informed of as well. Like not spending the day on their cell phone talking to friends (or texting them). Not shopping on-line whenever the whim strikes them (wait for lunch or a break). How to dress for success – or at least for business. What behavior is appropriate in the work environment and what behavior is not so appropriate. This is also a time when mentoring is especially valuable.