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Compound Interest: A Financial Lesson Between A Dad & A Son – Finger Financial Five #136

Jeremy
Jeremy

“School, politics, sports, and games train us to compete against others. True rewards — wealth, knowledge, love, fitness, and equanimity — come from ignoring others and improving ourselves.” – Naval Ravikant

Elliott started as an intern at Riverbend Wealth Management. He is learning the basics of investing, like the miracle of compound interest.

He comes into my office excitedly, saying, “Dad, all you’ve got to do is save money, invest it, wait, and you can be rich.” 

“That is correct, son,” I said. 

“Why doesn’t everyone do this?” he replied.

I smiled and felt a sense of pride; knowing that this was a moment between a father and a son. A mentor and student. 

Knowing Elliott loves fashion, I said, “If you save $30 for every $100 you make, yes, you can be wealthy. But what if those shoes you want cost $100? Are you willing to wait to buy them?”

I could see the excitement on his face transform into understanding. At that moment, he learned something.

Today, he said he will take some cash he saved and invest it. 

This is the beginning of a long road of learning.

I can’t stop smiling…

I was on the Mind Body Podcast by Rebellious International about being free, letting go, introspection, personal and spiritual growth, and living fully. Click here to watch the video. 

If you are so inclined, you can vote for Riverbend Wealth Management as “Best of the Beach”. CLICK HERE to cast your vote. You can vote each day until June 30th

Let me know if you have any questions. Happy to help. 

On the lighter side, I am still smiling…

Hope all is well with you and your family,

Jeremy 

Finger Financial Five – 5 points in 5 minutes or less – is to provide you with a weekly shot of useful financial information.  My intention is to share principles, so that you will have more clarity and peace, that help you make better financial decisions. 

Investment advice offered through Stratos Wealth Advisors, LLC, a registered investment advisor.  Stratos Wealth Advisors, LLC and Riverbend Wealth Management are separate entities. 

This content is developed from sources believed to be providing accurate information and provided by Riverbend Wealth Management. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Stratos Wealth Partners and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Riverbend Wealth Management does not compensate existing or former clients for testimonials or endorsements.

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