At a glance
Professor Tom Stolberg of Alfred State’s Business Department met with Honors Program members on Feb. 20 with a simple but startling promise: by using the ‘miracle’ of compounding interest in tax-deferred index accounts held over many years, ordinary people can amass very significant amounts of money by retirement age, even considering current low interest rates.
Professor Tom Stolberg of Alfred State’s Business Department met with Honors Program members on Feb. 20 with a simple but startling promise: by using the ‘miracle’ of compounding interest in tax-deferred index accounts held over many years, ordinary people can amass very significant amounts of money by retirement age, even considering current low interest rates. Using basic math and easily understood concepts, Stolberg provided examples of how a student could use dollar cost averaging to begin investing now, even on a very limited budget. Stolberg’s presentation is based on his popular personal finance course taught at Alfred State for many years.
Pictured from left to right: Stolberg and Haomiao Yu, Brooklyn.