Essential Advice for College Graduates: Money Moves, Skills, and Networking

Summary

Market Mondays: Essential Advice for College Graduates – Money Moves, Skills, and Networking

Release Date: May 24, 2025
Host: EYL Network with Ian Dunlap

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Introduction

In this episode of Market Mondays, host Troy engages in a comprehensive discussion with stock market expert Ian Dunlap and co-host Raja, focusing on providing essential advice for recent college graduates. The conversation delves into financial strategies, skill development, networking, and navigating the challenging job market. This summary captures the key insights and actionable tips shared during the episode.

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1. Strategic Investment Advice

Troy begins by addressing a critical concern for new graduates: financial stability. He emphasizes the importance of early and strategic investing.

• Diversified Portfolio Recommendations:

  • Microsoft, Visa, Bitcoin, and Apple are highlighted as pivotal investments.
  • Ian (01:52) advises, “Put at least 20% of your money into these companies no matter what happens.”

• Counteracting Debt Concerns:

  • Ian challenges the conventional wisdom of paying off debt first, especially for Black individuals, stating, “Paying off debt first if you're black does not work because guess what? Another bill is going to pop up always.” (02:00)

• Long-Term Asset Growth:

  • Troy reinforces investing in assets with a 50-year trajectory, such as tech giants, to ensure sustained growth.

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2. Entrepreneurship Amid Economic Uncertainty

With the U.S. economy facing instability, Ian underscores the necessity of entrepreneurship.

• Building a Business:

  • He advises graduates to build businesses in multiple countries to mitigate risks. “As the U.S. economy is falling apart, entrepreneurship is more needed, especially internationally.” (02:30)

• Leveraging Family Support:

  • Ian mentions the importance of familial support in business ventures, particularly in expanding to markets like Ghana.

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3. Enhancing Skill Sets Beyond Academia

Troy highlights the significance of continuous skill development, especially in areas not covered by traditional education systems.

• Focus on Artificial Intelligence:

  • He stresses diving deep into AI, stating, “Artificial intelligence, really diving in, learning it, figuring out every aspect... just get your hands on it.” (04:35)

• Practical Learning through Tools:

  • Troy shares his personal experiences with tools like CapCut and Canva, advocating for hands-on learning through trial and error.

• Daily Action:

  • Ian echoes the sentiment, urging graduates to “do something every day” (05:15).

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4. Navigating the Challenging Job Market

Addressing the tough job landscape, Troy and Ian offer strategies to secure employment and financial independence.

• Multiple Streams of Income:

  • Troy advises learning various investment methods, including stocks, trading, and real estate, to create multiple income streams. “You got to find ways to have multiple streams of income.” (05:19)

• Early Planning:

  • Emphasizing the importance of early planning, he states, “You can't wait the days of, like, all right, I'm just gonna play around for my 20s... that's an outdated mindset.” (06:11)

• Job Application Strategies:

  • Ian suggests creating and sharing ideas publicly to showcase skills during job applications. “Post your 50 ideas or do a post of the day about what you can do to help a company be better... it's going to help you a lot more.” (13:04)

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5. Effective Networking and Community Building

Building a strong network is pivotal for career advancement and personal growth.

• Alumni Associations:

  • Troy encourages graduates to join and actively participate in their alumni associations. “You should be a part of the alumni association... stay engaged because your network is vitally important.” (11:16)

• Value of Commonality:

  • Raja adds, “When that paper comes across and it says St. John's grad, and you know the CFO or the CMO is from that. You have a good chance...” (12:27)

• Continuous Learning and Mutual Growth:

  • Raja reflects on the importance of learning from peers: “I'm never too old to learn something new, especially from an age group.” (09:10)

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6. Managing Student Loans and Financial Planning

Prudent financial management is crucial for graduates to avoid long-term debt pitfalls.

• Minimizing Student Debt:

  • Troy advises choosing degrees wisely and attending state schools to keep student loans as low as possible. “Go to state schools... don't have $400,000 of student loans and then still can't get a job.” (07:15)

• Repayment Strategies:

  • Raja emphasizes the importance of having a repayment plan: “Student loan is one of those things that you cannot file bankruptcy from and it will be with you and it will affect you long term.” (09:10)

• Living Economically:

  • Troy suggests living at home initially to save money: “There's no shame in living at home for at least the first couple of years while you get yourself together... keep your expenses low.” (14:14)

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7. Final Tips and Encouragement

The episode concludes with motivational advice aimed at empowering graduates to take control of their financial and professional futures.

• Active Engagement:

  • Troy urges graduates to stay active and involved in their networks: “You gotta actually do things... stay engaged because your network is vitally important.” (11:54)

• Continuous Investment in Knowledge:

  • Encouragement to utilize resources like Market Mondays and educational books: “Educate yourself. You got to watch Market Mondays. We wrote the book. It's called how you deserve to be rich.” (12:48)

• Patience and Persistence:

  • Ian advises parents to be patient and encouraging as graduates navigate the tight job market: “Be patient, be encouraging... encourage them while this job market is tight.” (07:15)

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Conclusion

This episode of Market Mondays provides a wealth of actionable advice for recent college graduates facing the complexities of financial management, skill development, and building a robust professional network. By emphasizing strategic investments, entrepreneurial ventures, continuous learning, effective networking, and prudent financial planning, Troy, Ian Dunlap, and Raja equip graduates with the tools necessary to thrive in the real world.

Graduates are encouraged to take proactive steps in managing their finances, invest wisely, build meaningful connections, and remain adaptable in an ever-evolving economic landscape. The collective insights aim to foster not only financial independence but also personal and professional growth for the new generation entering the workforce.

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Notable Quotes:

• “Put at least 20% of your money into these companies no matter what happens.” – Ian (01:52)
• “Paying off debt first if you're black does not work because guess what? Another bill is going to pop up always.” – Ian (02:00)
• “Artificial intelligence, really diving in, learning it, figuring out every aspect... just get your hands on it.” – Troy (04:35)
• “Do something every day.” – Ian (05:15)
• “You can't wait the days of, like, all right, I'm just gonna play around for my 20s... that's an outdated mindset.” – Troy (06:11)
• “You should be a part of the alumni association... stay engaged because your network is vitally important.” – Troy (11:16)
• “Student loan is one of those things that you cannot file bankruptcy from and it will be with you and it will affect you long term.” – Raja (09:10)

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This structured and detailed summary encapsulates the essence of the Market Mondays episode, providing valuable insights and practical advice for recent graduates navigating their early career and financial decisions.

Transcript

[Ian]

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[Rashad]

By Smart Travel, a new podcast from NerdWallet. Smart travel doesn't just cover points and milesthey break down all the financial aspects of your trip. Whether that's the best days to book, how to avoid hidden fees or which fancy travel credit cards pay off and which ones are just an expensive flex. If you want your travel budget to work harder, then dive into the best deals, products, services and more with Smart Travel from NerdWallet. Wherever you get your podcasts.

[Troy]

Congratulations to my nephew Issa. He graduated from St. John's University.

[Raja]

Yeah, yeah, yeah, yeah. For the masters.

[Ian]

No, no.

[Raja]

Bachelor's side.

[Troy]

So I wasn't, I was. Yeah. A few people recognize me. So shout out to those people that watch Market Mondays blackout. Earn your leisure. You know it's always good when you out. But this brings me to this little off the script topic. There's a. There's a lot of hundreds of thousands of children that's probably or young adults that's graduating from college. What would be the advice for somebody that just graduated from college and is now entering the world, the real world?

[Ian]

This is a great question. If I can go back to college. You mean from an investment lens or just in general?

[Troy]

I mean we could do either one. Well, definitely from a financial. Some financial tips and then just some some life tips.

[Ian]

Number one, find three companies to marry right now. For me, for your nephew, it would be probably Microsoft, Visa and bitcoin on the drop. I'm almost done with Apple. I'm not gonna lie. Doesn't mean you should sell if you're already in it. But as a new investment. I'm tired of y' all. I'm gonna start a chant about what leadership should be at Apple if y' all don't make some changes by August. Just letting you know. Microsoft, Visa, Bitcoin, no matter what anybody tells you, parents, friends, family, girlfriend, side piece, whoever, just me and you talking about you put at least 20 of your money into it should be the first bill you pay. I beg of you. I know people gonna be like, yo, pay off debt first. Paying off debt first if you're black does not work because guess what? Another bill gonna Pop up always. I went back and calculated like from college through now. If I had did that, who is a big number? Oh my God. So put 20 of that money in and then you have to find a business car. Rashad asks him every week what should I do to scale? Because and this is the thing, if you have somebody that's a world leader and you don't use it like my family's, like I don't want to bother you, I'm not about to bother me, trust me. Like I you have to build a business. Because as the U. S economy is falling apart, entrepreneurship is more needed, especially internationally. I will find a way to get over to Ghana too with my uncle and say hey, help me build a business here. Because now like we have two tech two index. I think just to be in one country doing business is the biggest risk you're going to have on your plate over the next 20 years. So business in two, two countries, Microsoft, Visa, Bitcoin and put 20 of the money in no matter what happens. Then you can go have fun and traveling. Right. Go to Brooklyn, chop house, have a blast after. But put the capital to work and build your business.

[Troy]

Yeah, for sure. That's great advice for me. I would definitely say what you said, just piggybacking, invest early and it's hard to invest when you don't have money. I get that. Call Rashad and get it as soon, as soon as you start to have some level of income you gotta start investing and you want to invest in assets that have 50 year trajectory. So of course you're talking about bitcoin. You talking about like you said, you're talking about Microsoft, you're talking about Nvidia.

[Ian]

Yeah.

[Troy]

Smh the chip stocks. You know these are, these are tech leaning company. I would definitely qqq like you want to invest in companies that are going to change the world in the next 50 years and that's technology companies for sure.

[Ian]

Yeah.

[Troy]

And I think improving skill sets that are not even part of a school curriculum is important. Artificial intelligence, really diving in, learning it, figuring out every aspect, watching every YouTube video, watch the video that we did with x, watch every YouTube video, watch every, you know, just get your hands on it. Just kind of, you know, figure it out on your own trial and error. I do it all the time. I'm figuring out, I'm you know, cap cut, I'm in cap cut. Figuring it out. I'm in canva figuring it out. From a content creation standpoint you have to. The best life lesson is to actually.

[Ian]

Just actually do something, do something every day.

[Troy]

And I would, I would definitely. You know, the tricky part, a lot, for a lot of college graduates now is that it's hard to get jobs. And that's the. That's the tricky part. Right. So I think entrepreneur skill set is vitally important, but then also figuring out how to invest, how to invest in stocks, how to trade, how to invest in real estate, you got to find ways to have multiple streams of income. And like I said, I know that's difficult if you don't have any money, but at least learning, having an idea, having a set game plan, because you need your game plan now. You can't wait the days of, like, all right, I'm just gonna play around for my 20s, and then when I turn 30, that's when I'm get serious with life. That's.

[Ian]

It doesn't work that way.

[Troy]

That's an outdated mindset. So you got to figure out what you want to do early so you can already be planning and putting it in place, even if you're not actually gonna be able to fulfill that dream. So you're 30 at least by the time you get to 30. Because like, like B. I G said, being broken 30, given chills.

[Ian]

He never lied, especially at 40. Oh, boy. That's why autumn hate come from. You should have listened.

[Troy]

That's a fact. And the last thing I'll say about this too, is for parents and for people that's not even in college yet, you gotta make sure you're figuring out the right degrees to get. You gotta make sure that your student loan is. Is low as possible. Go to state schools. Go to schools. That's like, these are all things that you gotta take into consideration beforehand.

[Ian]

Yeah.

[Troy]

Because it's getting serious out here. So it was hard to get a job 10 years ago. It's harder to get a job now. But inflation is going up, so the cost of college is going up. So you don't want to have $400,000 of student loans and then still can't get a job. If you're not going to get a job, at least have no student loans or low student loans. Don't have one, don't have. Don't have both. That's a double whammy.

[Ian]

Tough man. At one point, before Troy goes.

[Raja]

Yeah.

[Ian]

To the parents, the lead developer of AI Microsoft, get laid off. Please be patient with your children. A lot of parents go out and get a job. They're laying off people who are putting together neural networks. They got a little AI Bot that they've put together with a human brain that some of that team got laid off. Be patient, be encouraging. I'm not saying them, let them be lackluster and let them play 2K all day, but encourage them while this job market is tight, while the leadership is a little bit off putting to some nations and while the, the hiring freeze is continuing slowly but surely.

[Raja]

Yeah, I think all those things, I mean that, that is a blueprint, right? Create the plan. I think one of the things that we have to recognize is what's your value add? I think a lot of kids will leave college with the degrees and I can speak for myself and it's like, well what do I do with this? Like what does this mean, right? I have this degree but in health science, what do I, what does that even mean, right? Like when I walk into a space, does, does that speak anything to me? So understand what value you bring outside of what that paper says is going to be important because you're walking into the space the paper isn't. The other thing, like you were saying, is that plan and you have to create it, whether from the investment standpoint, from a paying off debt standpoint, because real world starts, right? You graduate in six months after they're like where's that money at?

[Ian]

Right?

[Raja]

And you can go and deferment for 12 months after that. But then you're just pushing the, the, the, the barrel down, down the hill. It, it's not running away. Student loan is one of those things that you cannot file bankruptcy from and it will be with you and it will affect you long term. So creating a plan around how you're going to repay that, whether it's creating multiple streams or you know, having multiple sources of income from, from jobs is important. And I think what's as important especially for this generation is networking across, right? Like we gotta start surrounding ourselves with people who are like minded. And I think that's the beautiful thing about the community we've created. The community you've created is this like minded people. You graduated college, you've now separated yourself from certain parents, right? You can look around the kids you went to high school with and they didn't get to this point. And it's for a reason, right? There's a reason why you made it here. But the people you've graduated with have now done the same thing that you've done. I said this the other day. We was talking to, to some young adults in our community. They were like, what's the best thing about you know, being where you're at. And I was. I get to learn every day. They were like, well, what are you learning here? I'm like, I can learn something new from you today. Like, I'm never too. Too old to learn something new, especially from an age group. I said, what. What we got to realize is that when you're in elementary school, you're one of 20 kids, right. And it feels like, all right, that's what you're competing against. Then you get to, like, middle school, and like, you're one of 120 in your class or maybe a bigger, maybe 200. Then you leave and you go to college. And now you're one of maybe 20,000. Right. That you're competing against. And then what happens? Like yesterday when, you know, he graduates from College, now you're one of 4 billion. You compete against the world. And so it goes back to number one. What is your value add when that is your competition? And so microcosmo, all those things together. I think that is the blueprint. What you said, Raja, what Ian said, and those three things, like, put those things down, write the plan, create the strategy, and it's time to figure out you're part of the world now.

[Troy]

And then also, I'll say the last thing about this is tap into your social networks. As far as not Instagram or Facebook, but I mean, like, if you go to a school, they have an alumni association.

[Ian]

Yep.

[Troy]

You should be a part of the alumni association. If you were in school and you joined any maternity or sorority, of course that's good that, you know, stay in touch with dad and be active, because a lot of people are in fraternities and they're not active members. You got to pay your dues. You got to actually go to meetings. Because most of these people, like any. Any type of organization, 80 of the people are not active.

[Ian]

How they should be. Yep.

[Troy]

And they don't benefit the 20. Like, you got to go to the meetings. You gotta. You gotta volunteer. Like, you gotta actually do things. Right. So stay engaged because your network is. Is vitally important. And especially, like, if you go to a school that has a strong alumni association, you want to stay connected to that because you might get some benefits and breaks just based off of that, because you have some level of commonality that somebody else might not have.

[Raja]

That's why I said, when that paper comes across and it says St. John's grad, and you know the CFO or the CMO is from that. That school, you have a good chance. Right. Just that commonality that we Wait, we've shared something in common. There's a network here, right? That's what happens. A lot of times people say, oh, it's about what you know. Nah, man, it's who you know.

[Ian]

Yeah.

[Troy]

And, and, and we. You got to educate yourself. You got to watch Market Mondays. We wrote the book. It's called how you deserve. You deserve to be rich. Read the book. Like these kind of things that change your life, especially at a young age, that's vitally important. Speaking of St. John's switching gears.

[Ian]

Well, really, one. Can I add one more thing for your nephew?

[Troy]

Yes.

[Ian]

All nephews, everybody in the family. Put your ideas out into the world. And, and I will call my uncle because he's got a big social platform. Let's say hypothetical. If you want to work at Google, I will map out my 50 ideas that I will want to do at the company because it also makes the process like, I've seen people get jobs who have created speculative or concept projects for a company, and maybe it doesn't land, but at least they can see how you think. Or maybe a competitor will grab you. This is why I put out the content for free. Before we did the show, I was putting out stuff on Facebook for, for you. I didn't a decade. There's a point of reference. Like a lot of you are going into an interview blind with no brand leverage. But if you're walking into the interview with your 50 ideas or you did like a post of the day about what you can do to help a company be better, it's going to help you a lot more. Get a job, because at least that hiring person or CEO or CFO will be able to see what you could bring to the table. Post. I just want a job. So that's the last thing I would want to say.

[Troy]

And save your money, because one day your money is going to save you. So keep your expenses low. For sure, everybody's situation is different. But if there's no shame in living at home for at least the first couple of years while you get yourself together, like, you know, live at home, save your money, invest your money. Don't just spend your money on dates and a variety of other things that in the grand scheme of things is not, there's no return on that investment assets over liabilities.

[Rashad]

Today's episode is sponsored by Smart Travel, a new podcast from Nerd Wallet. Smart Travel doesn't just cover points and miles. They break down all the financial aspects of your trip, whether that's the best days to book, how to avoid hidden fees or which fancy travel credit cards pay off and which ones are just an expensive flex. If you want your travel budget to work harder, then dive into the best deals, products, services and more with Smart Travel from NerdWallet. Wherever you get your podcasts.

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[Troy]

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[Ryan]

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