By: James Hunnewell '20
On Monday December 3rd, 2018, Mr. James Colgan P'16,'20 made a presentation to the St. Sebastian's Finance Academy. Mr. Colgan attended the University of Connecticut, the University of Massachusetts and Massachusetts Institute of Technology. He is now a Portfolio Manager at Frontier Capital Management.
Mr. Colgan introduced us to SAILOR, SAve and Invest for the LOng Run. This concept taught us the importance of saving and investing for retirement. He gave us examples of famous athletes who did not invest their earnings and are now bankrupt because they were not wise with their money. He showed us how important it is to start investing immediately after graduation. For example, if you save 7% of every paycheck and it returns 11% over your lifetime, you will have $5,440,000 at retirement. He stressed the importance of investing instead of spending. Mr. Colgan used a real world example to illustrate his point. When the first Apple iPod came out, you could buy it for $400, or you could invest $400 in Apple stock, and now you would have $63,000. Mr. Colgan's presentation was both engaging and informative.