EDGE Controller Shares Tips on Money Management

By Sean O'Brien
Metro EDGE ControllerSean O Brien

I am very excited for the EDGE Young Professionals and Money Management Panel on Wednesday, October 15 hosted by Bank of the West. As EDGE's controller, they asked me to share some thoughts and tips with our members to prime your interest in the event - it would be an honor! If you ever have any additional questions, or want to know what its like on the floor of the NYSE, find me at a mixer.

1. Start saving money to your 401k immediately. I am shocked how many people I meet that have been at a job for a few years and have, "never gotten around to it." Furthermore some companies will match a certain percent that you save. (For example if you save 2%, they will also give you 2%) That is free money, don't let it get away! Ask an office friend or manager for help and they will point you in the right direction. And, if the company running the 401k isn't helpful, tell your boss you know this guy who is the Controller of Metro EDGE.

2. Do not listen to the idiots on TV yelling about how to invest in the stock market. I know that's not very nice of me to say and some are far smarter than me - Ryan Porter, the 2013 EDGE Chair would debate they all are - but I want you to ignore that noise. Investing is a life long study and I want you to read the greats, and not just listen to the loud mouths. Read books by Warren Buffet (The number one investor of all time), Benjamin Graham (Buffet's mentor), Peter Lynch (manager of one of the most successful mutual funds of all time), Malkiel, Bob Doll and Siegel. I had the chance to meet Bob Doll about 5 years ago. He was the nicest guy ever and held the door open for me when we left a meeting. Ha, yeah I can't believe it either.

3. Not sure about investing in the stock market? I understand, but look at how much of your day interacts with publicly traded companies. I wake up in the morning, brush my teeth with a Procter and Gamble tooth paste, put on a John W. Nordstrom dress shit, have a Starbucks, drive to work in my Ford, have breakfast, lunch and dinner at McDonalds, use my AT&T cell phone, come home and enjoy a Diageo brand beverage (Captain Morgan, Ketel One, Johnnie Walker ... I am just sharing some of their brand names, not saying this is my drink) while watching ESPN (owned by Disney) on my Sony TV ... oh, and I am typing this on my Apple laptop. You get the point.

All the best and I hope you enjoy the event! There are still a few spots left so register today!

SOB - Sean O'Brien