Racquel Oden, US head of wealth and private banking at HSBC, stresses the importance of starting to save and invest early. She advises focusing on retirement, prioritizing investments over student loan debt, and choosing CDs over regular savings accounts. Oden encourages people to make a plan with a financial advisor and think beyond just retirement. She recommends traditional resources like banks for financial advice over social media influencers. Oden suggests exploring high-yield savings accounts and money markets for better returns than regular savings accounts. She emphasizes the importance of having cash on hand and making sure it works for you, rather than letting it sit idle. Oden also highlights the benefits of paying off student loan debt to increase credit scores and make money work for you.

Read more at Yahoo Finance: I’ve worked in global banking for 25 years. These are the 6 most important pieces of financial advice I tell family and friends.