Never invest in what you don’t know, drink good wine and embrace every opportunity, These are among the pearls of wisdom that prominent business and finance leaders fondly recalled being told by their dads whenwhat’s the best money advice you got from your father? Oh, and, if you get pocket money, don’t spend it all at once.
The second piece of advice, which is to avoid paying for something you don’t understand, can be hard to follow, he adds. But his father also taught him that financial success should “never overshadow the virtues of generosity and contentment”. And, his dad taught him to use the “richness of your character” to have a positive impact.– Philanthropist and director, Carol Schwartz, AO, and her father, Marcus Besen, 99.
But his dad also got him into the stock market. At the ripe old age of 7, Heine bought his first shares in mining company Haoma.Today, Heine’s own 7-year-old son is also a proud shareholder, picking up Microsoft, Alphabet and Apple through investing app Superhero. He picked the stocks because of his love for Minecraft, YouTube and his iPad.– Chief executive of Aware Super, Deanne Stewart, and her father, David Stewart, 74.
She called her dad, afraid that the opportunity was beyond her. “He always talked to me about three things. The importance of resilience, the importance of unconditional love and the importance of confidence and just getting out into the world and giving things a crack,” she says. “I want to educate investors, from those starting out, to those that may not even have begun, on all the ways the market can help you accumulate wealth reliably, if only you learn the right things and use the right tools.”– Head of wealth at BlackRock Australasia Chantal Giles and her father, Glenn Giles, 67.