One of our favorite traditions at SJS Investment Services is when students intern with us. It is an opportunity for us to teach the next generation of investors some of what we have learned, as well as learn from them.
From August to December 2022, four Seniors from St. John’s Jesuit High School - Kleiston Bonnell, CJ Hornbeak, Beckham Schmitz, and Zachary Zitkovic - interned with the SJS Team in Sylvania, Ohio. Throughout their internship, they did activities including:
Learn about a wide variety of topics on personal finance, from taxes to insurance to the financial costs with having a family
Study the importance of investing, as well as different ways of investing
Introduction to retirement and other investment accounts (ex. IRA, 401(k), 529, HSA, etc.)
Research different investors and specific investments
Read The Investment Answer by Daniel C. Goldie and Gordon S. Murray as well as The Psychology of Money by Morgan Housel, which they get to keep
Meet with most members of the SJS Team as well as some local business leaders
Create a LinkedIn profile (Kleiston, CJ, Beckham, Zach) and resume
Present an investment-related idea for the SJS Team to consider
We asked each student to write a summary of what they learned during the internship, which we share below. We thank Kleiston, CJ, Beckham, and Zach for spending their internship with us, and we wish them well going forward!
Kleiston Bonnell
I very much enjoyed my time at SJS. The staff was welcoming and very conversational. Bobby mentored us throughout the semester. We started with the basics such as what is a stock and a bond and how each works. We also learned early on some of the key characteristics of people who have become and stayed wealthy. We were provided with two books at the start, The Psychology of Money and The Investment Answer.
As our time continued, we met with many of the SJS team members to talk and sit in on calls with them. We would continue to sit with Bobby and learn about more of the jargon of the financial field such as REITS (real estate investment trusts) and ETFs (exchange traded funds). We learned about a way to get a head start on our future with a Roth IRA. We learned about different investment accounts such as 401(k)s, which are retirement plans offered by your job. We also learned about the 529 plan, which can be used to pay for education expenses.
Halfway through the internship, we met with a SJJ alumnus named Paul Kwapich, who runs River Asset Management. We were able to talk with him about his experience getting started in the real estate field. Coming to the end of our internship, I am very thankful for Kevin and Scott for giving us the opportunity to join them at SJS. And I would also like to thank Bobby for taking the time to mentor us and give us a head start on investing and helping us set ourselves up for success.
CJ Hornbeak
During my internship at SJS Investment Services, I have learned many things about the stock market, as well as many ways to save and potentially gain money. Because investments can lose money over short or even long periods, I need some stable money to keep and not invest (emergency account). I learned the difference between a stock and bond. A stock is a piece of ownership in a company you can buy yourself, and a bond is like a loan to a company or government. Also, owning a share of a REIT is like owning part of real estate, and with that comes the importance of paying off the buildings, taxes, and bonds.
I learned about mutual funds and ETFs, which are types of pooled investment securities. I also learned about different types of investment accounts, such as taxable accounts. I learned about Roth IRAs, in which you must contribute after-tax money. If you follow the rules, your contributions and earnings can grow tax-free, and you can withdraw them tax-free and penalty-free starting at age 59.5.
We went to Paul Kwapich’s real estate company, which owns, operates, and finances income-generating real estate. Bobby also gave us a book called The Psychology of Money, which talks about how dealing with money can be hard for many people. Doing well with money isn’t guaranteed - it’s a lot about how you behave. We also learned how a lot of wealthier people end up losing their wealth by buying nicer things and spending too much money instead of saving money and spending less.
I learned about FICA taxes, which provide necessary funding for the government to pay Social Security and Medicare benefits. FICA taxes are payroll taxes that occur before retirement plan contributions. Medicare provides healthcare primarily for people age 65 and older. Social Security provides income for people as they get older. We also learned about other taxes, as well as about tax deductions. Lastly, I learned about venture capital investing, which provides capital to startup companies and small businesses that may have long-term growth potential.
Beckham Schmitz
During my time at SJS Investment Services, I have been able to broaden my knowledge of the business world. Interning with SJS has presented me with a lot of opportunities and experiences. I had no idea what I was getting myself into when I first joined the internship program at St. John’s. However, I am very fortunate that I decided to intern with SJS and am grateful for the knowledge it has left me.
During my time at SJS, I have undergone many talks and activities with Bobby Adusumilli. He gave us a rundown of the ins and outs of business. He taught us about managing money and strategies to potentially help set ourselves up for our futures. Also, he taught us a lot of business vocabulary so that we can better comprehend investment markets. Additionally, I am thankful for the different SJS team members we had the opportunity to speak with. Being able to see the different jobs and ask specific questions regarding their positions was very informative. I think learning how to start and operate a business will prepare us for our futures.
I am very thankful to the SJS team for allowing me to intern with them. This internship has left me with a lot of new knowledge and skills. I think this time spent at SJS will better set me up for my future and leave me with connections. I appreciate everyone at SJS for giving us their time and broadening our knowledge in their fields.
Zachary Zitkovic
SJS has helped me learn some of the necessary knowledge needed in order to make smart financial decisions. I really enjoyed and valued our lessons in learning how to manage money. This is a crucial skill that can be vital at such a young age to accumulate wealth over time. You must learn what “enough” is for you. When you learn how to budget but enjoy your money in a humble fashion, it can lead to smarter financial decisions and greater profits in the long run. Whether it means living below your means, value of paying taxes and bills on time, or just learning the value of investing in a broad-market index mutual fund instead of trying to beat the market, I truly can say I’m much more knowledgeable now than I was before this internship. These skills learned will live with me for the rest of my life and I am blessed to have been given the opportunity to be introduced to them at such a young age.
I think it’s incredibly important for many people to know that past performance on the market can’t guarantee what the future may look like. I learned in the book The Psychology of Money (given to us by the Advisors) that almost nothing is ever as good or as bad as you think. It helps to be level-headed in the investment world and not rush decisions because of a high or a low. The best money lesson I've learned over the past few months is that your money mindset is more important than the number in your bank account. If you fear money or think you're terrible with money, that may become true. It was also great learning about the different retirement plans like the IRA and 401(k). You may have the option to do Roth plans where you tax the money you put in right away, or Traditional where it’s taxed when it comes out. Roth is popular among younger investors but both are good plans depending on the company you may work for.
These 75 hours spent at SJS have been some of the most important and crucial time in all my time at St. John’s. It was great seeing how there’s so many different ways to achieving financial success. I’ve realized this based on all the different SJS team members, CEOs, and popular figures we researched, and learned how there’s no one straight path to achieving wealth. It was amazing learning about all the different stories and paths to see how people got to where they are today. The ability to learn from the employees at SJS has been nothing short of a blessing. Bobby has done an incredible job giving us the basics of many financial topics. We were even given the opportunity to tour and learn at Paul Kwapich’s real estate business River Asset Management. There, we were able to learn about the basics of real estate, much like how Bobby taught us in finance. The connections I’ve made with all the team members at SJS and their connections will be relationships that I will cherish for the rest of my life.
Important Disclosure Information:
There is no guarantee investment strategies will be successful. Past performance is no guarantee of future results. Diversification neither assures a profit nor guarantees against a loss in a declining market.
Advisory services are provided by SJS Investment Services, a registered investment advisor (RIA) with the SEC. Registration does not imply a certain level of skill or training. SJS Investment Services does not provide legal or tax advice. Please consult your legal or tax professionals for specific advice.
Statements contained in this article that are not statements of historical fact are intended to be and are forward looking statements. All forward looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties which could cause actual events or results to differ materially from those projected.
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