For our most recent lunch talk, our MAcc council had a speaker come in and talk to the class about financial planning and health. Greg Zunkiewicz is a financial adviser for Edward Jones. He is also a 2012 graduate of the Masters of Business Administration (MBA) program here at Fisher!
The first topic that Greg discussed was budgeting. He said that whether you make $25,000 a year, or $250,000 a year, it is important to keep track of your money. By setting a detailed budget, you will know where your money is being spent month-to-month, and how much money you can save, all while maintaining your lifestyle goals. By determining how much you can save, you can then begin to look into various advantageous investment vehicles, such as a Roth IRA. Greg also discussed, at length, the benefit of compounding interest and having “interest work for you.” By investing early, young investors can assume more risk and substantially increase the wealth in their portfolio, all without having to pay taxes later.
Another topic that Greg discussed was regarding investment strategy. Since he provides investment guidance and manages his client’s portfolios, he is very knowledgeable in matching individuals’ risk preferences with a particular portfolio type or strategy. In his opinion, younger investors should be more willing to take on riskier investments, as they have a longer investment horizon. However, there is no one strategy for every individual, it must be tailored to the specific financial plan of the investor.
This was yet another enjoyable and valuable speaker to come and speak to the class. Greg was incredibly knowledgeable, personable, and open with the class!