MMA Cadets Learn About Financial Responsibility from Visiting Financial Advisor

MMA Cadets Learn About Financial Responsibility from Visiting Financial Advisor

Kurt Reid, author of Financial Freedom Simplified, spoke to the Missouri Military Academy high school senior cadets April 17, 2023, about financial responsibility and the benefits of investing.

 A few seniors’ hands went up when Reid asked, “How many of you think that you will accumulate two million dollars in savings during your lifetime?” Reid learned about the accumulation of wealth when he was a paperboy, and the concept of earning interest was explained when he opened his first savings account. From those early beginnings, he formulated a methodology of saving money and accumulating wealth. He says the idea of having money work for him was fascinating and carried him through a successful career as an investment advisor.  

According to Reid, accumulating wealth begins with earning income and then saving a minimum of 10% of that income. Determining how to invest so that those savings earn the highest rate of returns, based on individual risk tolerances, can be enjoyable. This basic principle of financial discipline complements the concepts taught in MMA’s Personal Finance classes and made Reid’s message relatable to the senior cadets. 

Reid explained that an 18-year-old who saves $2,000 per year at a 10% compounded growth rate will have accumulated $2.1 million by the age of 65. The message was clear: earn money, then be disciplined enough to save and invest, making the money work. When the cadets were prompted at the end of the presentation, “How many of you think that you will accumulate two million dollars in savings during your lifetime?” nearly all of their hands were raised. 

Reid was an All-American baseball player in college before graduating from Southern Illinois University with a business degree. His book Financial Freedom Simplified is only available on Amazon and focuses on topics from spending habits to tax-advantaged investing.

Mr. Reid collects no speaker’s fees and all of the book's profits go to charity.

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