Wednesday, May 25, 2016

Investing as a College Student

A seasoned investment professional with more than a decade of experience, Barrett Wragg functions as a divisional sales manager at T. Rowe Price in Maryland. Throughout his career, Barrett Wragg has taught several investment workshops, including a workshop on investing while in college that he conducted for members of the Black Business Association at the University of Maryland.

When it comes to college, students are generally more concerned about getting good grades and balancing academics with a job and extracurriculars than investing. However, the sooner you start investing, the more money you can potentially save by retirement. Before you start, take the time to think about why you want to invest. Investing is often a long-term process that requires patience and hard work. While it is possible to invest and maintain both good grades and an active social life, not every student will have the desire to do it.

As with most things, investing requires some preparation and knowledge. During your free time, read as many books and articles about investing as your can. Your school library will likely have plenty of books on the subject, and many articles can be found online. Beyond basic investing information, make sure you understand investor psychology. Most investors doubt themselves at some point, and as a college student, you may doubt yourself more than the norm. Unfortunately, this can lead to poor investment decisions, so it’s important not to underestimate the tendency.

Once you’ve prepared, you can choose a brokerage and start making your first investments. Do plenty of research into the brokerage account that is best for your situation and investment goals. It is not a good idea to borrow money to invest, and some professionals even suggest paying off some debt beforehand. When picking your investments, avoid focusing on just one area. Instead, diversify across different investment choices. Further, create a strategy that fits your schedule to ensure you have the time to complete any necessary analyses.

Monday, May 9, 2016

Improving One’s Chess Game

Barrett Wragg brings extensive leadership, organization, and consultative sales experience to his role as a divisional sales manager for T. Rowe Price. He has given several presentations on various financial topics over the years and conducted a number of workshops. In his free time, Barrett Wragg enjoys playing chess.

Chess is a popular activity for many people who enjoy the cognitive challenge of the game, but improving one’s skills can often prove elusive. Following are just a few things players can do to get better at chess:

- Improve visualization: the ability to foresee moves on the board is key to figuring out the best moves to make during a match. As players improve their visualization, they can imagine multiple combinations of moves. This makes it easier to evaluate as many outcomes as possible based on different moves.

- Learn from mistakes: no one likes making mistakes, especially when a mistake is made during a tournament game. However, mistakes are some of the best learning tools around. Players looking to improve their chess game should take note of any mistakes they make and evaluate why they happened so they can avoid them in the future.

- Play against better players: one of the best ways of improving in chess is to play against a more skilled opponent. Even when a player loses, he or she learns new techniques and tactics from the more advanced player. Further, some advanced players are happy to share their knowledge with newer players.