The Business of Finance: Money Meanings, by Charles Chhauv

Tuesday, March 31 The Business of Finance: Money Meanings

For this excursion day, we started very late compare to previous days, we had to be meet in the lobby of The Buckingham at 12:00 pm with Mrs. McCarthy, our other professor, who joined us and led us instead of our usual professor Beck, because she went to New York for her business.

« Time is money. », that is the way of a lot of people think, and I am not the one who will contradict this sentence. We need time to make money, because money does not grow on trees, we have to work hard and all actions you take can impact on your business. We have to stay focus on the straight path if you want to raise money. Almost people find that is the only one way if you want to make money, but actually, time is more for relationship than money. This is what I learn from our guest speaker Dave Ruths who is the financial advisor at IPI Wealth Management. We have met him during our lunch at Argo Tea, 140 S. Dearborn. It was tough to understand what he said, because of some financial words, but I could catch some global ideas as US system is very difference between French system especially for retireds. In France, the government take care of retireds with pensions, but not in US, people have to save money for their retirement. After that, we told more about what we have learned, networking was our topic. He said that networking is one of key of success, to take time to share with people, to make relationship, because it is thanks to that you can do your business, and a lot of people forget that, all they want are to raise money. According to our schedule, we went to the Money Museum after lunch in the Federal Reserve Bank. What surprised me so far are counterfeit money. Some of them really look like real money, just one detail can make the difference between a real and a fake. That was very impressed me. I have also liked the one million dollars in cube, it is a cube which contain one million of one dollar bill, that was so captivating.

To conclude, I just want to say that thanks to this day, I have learned more about finance and money, and it is an area which fascinates me but scared me at the same time, because you have to deal with huge numbers, and finally I don’t think I will can work in this work field.

http://www.ipiwealthchicago.com/about_dave.html
https://www.linkedin.com/in/dwrstock
https://www.chicagofed.org/education/money-museum/index
http://www.argotea.com/