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Just graduated college with degree in accounting with 15k sitting in the bank, what should I do next?

I just graduated college with my bachelors in accounting. I have about 15k in the bank from saved money throughout college. I've been looking into to investing, starting a business, buying a existing business, and just buying a new car. I really want this money to work for me but I just don't know where to start. Sorry this question is so broad but I need some kind of help. A foot in the door is all I need.

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Answers (4)
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Beltway Nationwide Business Brokerage

I agree with Don. If you can figure out what type of business you'd like to start or buy (I suggest buying an existing business unless you REALLY know what you're doing), then try and get a job with a business in that field. If it's a small business, and you do really well for 2-3 years and you like the business, the owner may let you buy into a piece of the business. Even if this didn't happen, though, you'd have the experience of how a business like this runs. That would make you a good business owner when you do become one.

Aug 7, 2009
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Congratulations on your success, we would be interested in your accounting skills, we work in Distressed R.E. Assets, Would like to talk to you regarding this matter. Thanks... Matthew

Jul 31, 2009
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How to Buy a Business

Consider taking a job with an accounting firm for a few years. A good time frame would be two to three years so that you can get some experience in the real world and make connections. At that point you will have a much better idea of where your strengths and interests lie.

Oftentimes the only way to find out what you like is by first discovering what you don't like.

Jul 31, 2009
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The BAF Group LLC

You are right - the question is broad; on the other hand, it is great that you are asking, rather than going off, half cocked in some foolish direction that may be doomed to failure. There are a lot of people that are apparently not asking such intelligent questions, in this Web Site; so I congratulate you.

College is like putting a foundation in the ground for a house; but the frame, the roof, the walls have not yet yet been put in place. Medical school is an incredibly intense educational experience, but without the continuing education and practical experience of an internship and residency, you cannot become a practicing physician in almost any area. Why not adopt a similar strategic plan, in business planning? The majority of businesses that we see fail, do so for several specific reasons: 1. Lack of owner experience; 2. Lack of adequate planning; 3. Lack of adequate capital.

Buying a new car may be something you need. But I would buy a clunker or ride public transportation (which may be impractical in Texas,) so that I could save my money and add to it if I were really serious about buying a business, any time in the near future. I would try to think about the kind of business I would want to ultimately invest in or own, and then find a job that would give me the polished skills that overcome any potential lack of experience in that area.

Give yourself a set of goals to achieve, both in terms of skills-related experience and savings, and then look toward investing in a business.

Good luck!

Jul 31, 2009