INVESTOR SPOTLIGHT, Peoples' State Bank, Steve Mammoser
Today we had a speaker, Steve Mammoser. Steve is a Certified Financial Planner (CFP), part of his job is to work with clients who want to save money for the long-term future. Another part of his job is to educate clients on their future options, like taxes, estate planning, and wealth management. One main thing we learned was the rule of 72. For example, dividing the rule number (72) by the annual interest rate (3%), equals the number of years (24) it will take to double your money..We then moved into stocks; I’ve heard about the stock market but never really in-depth like today. Steve showed us a long-term chart which showed the good and the bad years. On average it takes 25- 50 years to gain a large profit. On a chart that he showed us, it invested $1000, and in 5 years it turned into $1,857 average, and in 50 years it made $377,028 average. Steve also gave us some great future advice, like investing money at a young age is NOT a good idea without first building up an emergency fund and savings account. I learned that the stock market it 100% unpredictable, almost like gambling. I really liked the speaker today, I learned a lot of good information for the future.

Thank you, Steve, for speaking to the class and to PSB for their role in building the youth of JC!

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