Brad Reifler is a serial entrepreneur and hedge fund manager. Brad is the current CEO of Forefront Capital Management. He began his career in 1982 when he founded his firm Reifler Trading Corporation, a company that that engaged in the execution of global derivatives. Brad also founded Pali Capital where he served as the chairman and CEO between 1995 and 2008.
Under his leadership at Pali Capital, Brad guided the firm to over $200 million annual profits. The company had more than 200 employees and expanded across the boundaries to Australia and the U.K.
Brad Reifler advice young people on the critical lessons in finance. Here are a few points you need to learn from the serial entrepreneur with excellent track record in hedge fund management:
It is Important to budget
Just as the established businesses prepare budgets, project revenue returns, and plan expenditures, individuals need to plan for their income, expenses, and savings. You would spend your money better if you considered yourself as a business enterprise.
You are paid less than what you make
Most employees take a little time to analyze their pay stub. The pay stub will give you detailed information on what you earn and the net cash you take home. Deduction ranging from the federal government income tax, social security contributions, local taxes, health insurance deductions, etc. will drastically reduce your net earnings.
The effect of Compound Interest
As a young person, if you begin saving a little cash every month, your savings can be quite substantial by the time you retire. That is due to the compound interest earned annually on what you save plus the interest earned the previous year.
You Need a Good Credit
Student loans can be acquired from non-existent or weak credit history. You, however, need a good credit record to qualify for mortgages or other asset financing services. You, therefore, need to build a good credit history by paying your bills promptly and taking out starter loans.
How to Pay For College
If you are paying your own fees, you might need to avoid the top class private universities and opt for affordable public colleges.