Jonathan’s Advice for 2026 Graduates

What advice would you offer those graduating college this month? I imagine it’s a long list. Mine sure is. Here are just five of the items I’d emphasize:

Move quickly to build a financial cushion. That money should be in a regular taxable account, but it doesn’t have to be sitting in cash investments. If you’re comfortable, feel free to stash some of those dollars in stock funds, so you have a shot at earning decent long-run returns. The idea is to buy yourself some financial peace of mind and build a buffer that’ll soften the blow of life’s turmoil. As I’ve argued before, the dollars that bring us the greatest happiness are often those we choose not to spend.

Expect to change jobs and perhaps careers. That’s one of the reasons you’ll want that financial cushion. It’ll give you options if you decide you’re in the wrong job or the wrong career.

Buy diversified stock index funds—and don’t touch them. I wish I hadn’t messed around so much with my portfolio, imagining I knew something about the future that’s unknowable. If I could to it all over again, I’d buy a world stock-index fund, invest every penny I could and just let the money ride.

Pick your partner carefully. If your goal is to spend thoughtfully and save diligently, you need a partner who shares those goals—or your home life will be fraught with tension and your financial ambitions will likely be thwarted. Step No. 1: Pay close attention to how potential partners talk about money and behave financially. Step No. 2: For added insight into your potential life partner, also observe what the parents say and do.

Doubt yourself. By all means, approach your career and your personal life with a healthy degree of self-confidence. Nobody wants an employee or a friend who is racked by self-doubt. But when it comes to money, self-doubt is a virtue.

The fact is, none of us knows which investments will soar and which way financial markets are headed. We can never be sure the house we buy will appreciate handsomely, or the purchases we make will bring great happiness. That’s why we should try to insert a pause before pulling the trigger on financial decisions.