“Invest as efficiently as you can, using low-cost funds that can be bought and held for a lifetime. Don’t go chasing past performance, but buy broad stock index and bond index funds, with your bond percentage roughly equaling your age,” he told Reuters in 2012. “Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don’t save, then you’re guaranteed to end up with nothing.”
John Clifton Bogle was born in Montclair, New Jersey, on May 8, 1929, along with twin brother David, to William and Josephine Bogle. The father lost much of the family’s fortune in the Great Depression. According to Bogle, his father turned to drinking, and his parents eventually divorced.
The family’s financial troubles during the Depression left an indelible impression on him.
“They were tough times, and I started working when I was 10 years old, delivering papers and eventually becoming a waiter,” he said in 2012. “I learned you work for what you get, and I feel sorry for people who haven’t had that upbringing.”
“We lived with uncertainty,” he added in a 2014 interview with The Sacramento Bee newspaper. “You learn at a very young age, you’d better roll up your sleeves. That’s an eternal lesson. If you do not learn it, you’re disadvantaged.”
Bogle attended high school on the Jersey Shore before earning a scholarship to Blair Academy, a prestigious private school in the state. He graduated in 1947 and went on to Princeton.
“My love for Blair is pretty close to eternal,” Bogle told students during a visit in spring 2018. “It was at Blair Academy that I learned to use the English language and how to write. My teachers spent so much time with me, mostly with a red pen. But I got better and better under their tutelage. The result is that my writing ability, among other things, enabled me to go to Princeton and start Vanguard and watch it grow into a colossus.”
from Just News Viral http://bit.ly/2TW5j40
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