Professor Tobias Schildfat Interviewed by Leading Swedish Daily
John Cabot University marketing professor Tobias Schildfat was recently interviewed about personal finance in Dagens Industri, Sweden’s leading financial newspaper. Professor Schildfat, who is currently teaching EXP1023 Understanding and Managing Personal Finance as well as MKT 335 Retailing applied to the Fashion industry, was asked to give his best recommendations to young graduates on how to go about building up their personal finances.
The author of Vägen till din första miljon, (The Road to Your First Million), which sold over 100,000 copies in Sweden, he has worked as a stockbroker for Handelsbanken, one of the primary financial institutions in Sweden, and as business manager with Findus, one of Sweden’s largest food companies. He is an established entrepreneur and the CEO of Solentro, the company he founded in 2008.
“As a fresh graduate, it is an excellent opportunity to start investing in the stock market and build your own money machine,” says Professor Schildfat in the interview.
Professor Schildfat is a long-term investor, but says that it is not necessary to trade every day. “The dividend is important and it’s about letting the stock market work for you and not trading too much,” he explains.
His main advice for students and graduates is to save and start investing early in order to benefit from two “superpowers:” interest and time: “We often give these superpowers to the banks by borrowing money and paying interest. But it’s important to turn it around – you should have time and interest on your side. It’s important to start investing and put your money to work early. Then you will succeed in the stock market over time.”
Here are Professor Schildfats’ five best investment tips:
1. Get building blocks: Create a surplus every month. Even a small surplus is good.
2. Build your own money machine: Put your money to work so that it grows. For example, in a savings account with interest and buy shares in investment companies.
3. Do both, don’t stress: Create a surplus and invest while enjoying life here and now.
4. Start now and invest regularly: Be like the bank. As soon as you start, you have time and interest on your side, two superpowers working for you.
5. And don’t forget: The most important tip of all is to invest in health, love, and friendship.
