Dan Grzywacz, Senior Investment Associate, recently commented on the mistakes people make in investing and the importance on compounding wealth over generations. Please contact us if you are interested in learning more.
“I think there are a lot of factors you can discuss when you talk about generating wealth for the next generation. I think we can talk about education, making sure the next generation understands capital allocation, how to manage risk and reward. I think we talk about savings, making sure the next generation saves capital and doesn’t spend…
I want to talk about one of the mistakes I think people make, and that’s not having a long-term approach. You know, Einstein said, “the Eighth Wonder of the world is compound interest.” And the math is really quite simple. If you look at the numbers, if you can generate 10% a year for 20 years, at the end of 20 years you’ll have seven times your money. But what happens within that 20 years and how you react is very important.”
– Dan Grzywacz, Senior Investment Associate