95: Finance Tips Your College Professors Didn’t Teach You - Michael Taylor

Michael teaches personal finance at Trinity University and writes a weekly finance column for the Houston Chronicle and San Antonio Express News. He previously sold bonds for Goldman Sachs, and used to run a distressed debt hedge fund. He is not your typical finance professor as he gives you the real-life perspective of how to manage your money. During the episode, Michael reveals several tips in growing wealth which you did not learn from school. He believes that venturing into investments at an early age promises a future of fortune. He explains how compound interest works, why we need to understand it, and what benefits it could provide. You might not be interested in learning such early in life, but once you listened to this episode, you’ll have a whole new outlook at your finances.   Where we are: Johnny - Bulgaria Sam - Florida   Book: The Financial Rules for New College Graduates   Discussed: ILAB 11 – Advice for 17-24 Year Olds on Money, College, Credit and Finances   Time Stamps: 07:52 – Why professors experience difficulty understanding and teaching finance 13:05 – His personal finance course 16:55 – Students in debt vs. Students investing 24:00 – Investment advice for young adults 32:12 – Explaining compound interest to young adults 38:53 – US Tax Code 43:10 – Saving money based on income 49:04 – Advise for youngsters in getting an investment adviser 56:47 – The use of Robo-Advisor 1:00:28 – Favorite investment books 1:05:21 – What to look forward to in his book   If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2017. All rights reserved. Read our disclaimer here.