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How can I become successful in becoming a great invester/CFO?
I want to create a relationship with stocks(like what stocks would be good to buy and how much dividends they would pay me, and when to sell if the stocks are decreasing in value). As well as expanding my knowledge of finance and business to become a Chief Financial Officer. What classes should I take in college to become a CFO? What scholarships can I apply to St. John University and its finance/business program?
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2 answers
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Grant’s Answer
Hi Skylar,
Glad to know you are interested in the numbers. First, I want to clarify the 2 area you mentioned are slightly different:
(1) Stock is one of financial investments and evaluation about a company's value and future outlook in the market.
(2) CFO (or Finance department) is more like managing & delivering the financial result of an organization
for (1) it's not recommended to open an account and put money in stock without any preparation or certain level of knowledge. There are some web resource and training you could find for fundamental knowledge. In addition, it's important to keep the habit of reading finance news to understand the basics drivers/factors of stock and also you could pick few companies you are interested in and monitor their news to know more about the linkage between what happened to this company & their stock prices.
for (2) there is no degree or education can guarantee CFO role but if you major in Finance or Accounting in college, there is higher chance for you to work as finance related jobs during your career. If you want to prepare and get more ideas before pursing degree, maybe you could try to start with family financial planning? For example, ask your parents or family members, understand what are the monthly income and expense, and what assets or liability under the family. The complexity level of family won't be that high compared to an organization/company but I hope that could give you some sense.
Thanks.
Glad to know you are interested in the numbers. First, I want to clarify the 2 area you mentioned are slightly different:
(1) Stock is one of financial investments and evaluation about a company's value and future outlook in the market.
(2) CFO (or Finance department) is more like managing & delivering the financial result of an organization
for (1) it's not recommended to open an account and put money in stock without any preparation or certain level of knowledge. There are some web resource and training you could find for fundamental knowledge. In addition, it's important to keep the habit of reading finance news to understand the basics drivers/factors of stock and also you could pick few companies you are interested in and monitor their news to know more about the linkage between what happened to this company & their stock prices.
for (2) there is no degree or education can guarantee CFO role but if you major in Finance or Accounting in college, there is higher chance for you to work as finance related jobs during your career. If you want to prepare and get more ideas before pursing degree, maybe you could try to start with family financial planning? For example, ask your parents or family members, understand what are the monthly income and expense, and what assets or liability under the family. The complexity level of family won't be that high compared to an organization/company but I hope that could give you some sense.
Thanks.
Good morning Grant Hsiao
Thank you for your ideas with the stocks and the CFO advice. How do you think I can level up in a company to become a CFO of their company?
Thanks for the replies
Sincerely Skylar
Skylar
Tammy Laframboise
Present pension and financial planning information to members of a pension
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Tammy’s Answer
Hi Skylar,
Learning about stocks is very worthwhile in terms of creating financial wealth. Investing requires patience and knowledge. Many books on finances address this area and are a good place to start to get the basics. Also, check out blogs on the internet, for example, The Motley Fool. For young and beginning investors, I highly recommend that you speak with people you know about their experience with investing. Ask them to tell you about both their successes, but more importantly, their failures, or losses.
The CFO of a company is more of a lifelone pursuit where you get the basic financial education and then grow your work experience. Look at CFOs and see what their educational background entails and you will know what steps to take to achieve your personal educational goals. When in the workforce it is important to get wide and varied experience. CFOs have challenging roles, working through their staff to help the company succeed. This requires an ability to work collaboratively and to communicate complex ideas in a straightforward and compelling manner. Ask questions whenever you don't understand something and seek out mentors to help you to grow. Remember also to continue to upgrade your education throughout your career.
Best of luck!
Learning about stocks is very worthwhile in terms of creating financial wealth. Investing requires patience and knowledge. Many books on finances address this area and are a good place to start to get the basics. Also, check out blogs on the internet, for example, The Motley Fool. For young and beginning investors, I highly recommend that you speak with people you know about their experience with investing. Ask them to tell you about both their successes, but more importantly, their failures, or losses.
The CFO of a company is more of a lifelone pursuit where you get the basic financial education and then grow your work experience. Look at CFOs and see what their educational background entails and you will know what steps to take to achieve your personal educational goals. When in the workforce it is important to get wide and varied experience. CFOs have challenging roles, working through their staff to help the company succeed. This requires an ability to work collaboratively and to communicate complex ideas in a straightforward and compelling manner. Ask questions whenever you don't understand something and seek out mentors to help you to grow. Remember also to continue to upgrade your education throughout your career.
Best of luck!