Igor Cornelsen spent many years as an investment banker in Brazil. He managed some of the largest banks in the country during his career, guiding one through the worldwide financial crisis of 2007-2008. He is now partially retired and lives in South Florida. He works part-time at his investment advisory company, Bainbridge Group Inc., where he works as a consultant and offers his financial services.
As Igor wants more people to be able to successfully retire as well as meet other financial goals, he operates a blog where he shares many of the financial lessons he has learned over the years. He has posted some basic tips to those new to the world of investing that he thinks investors should always keep in mind. His number one tip is to not lose money. There is, of course, a risk investing even in a sound opportunity. Even though risk cannot be entirely avoided, the risk of losing money can be notably reduced. Igor Cornelsen says that if you have an investment that is losing you money you should get out of that asset as quickly as possible. He says the point of investing is to make money not lose it.
Another important part of investing is getting started as early as possible, due to the overwhelming power of compound interest. As Igor says, a dollar invested today is worth three dollars invested a decade from now. Time is one of the most crucial parts of investing and you’re going to retire much easier if you start saving money when you’re 25 versus waiting until your in your 30’s or later to get started. Another important part of investing that Cornelsen describes is to diversify your portfolio. A well-diversified portfolio has a lot less risk than one that is only invested in a few sources. Strong companies should be owned as well as risky ones so that returns are maximized and losses are avoided.
Outside of his career, Igor Cornelsen enjoys spending his time in the outdoors. He is an avid golfer and has other outdoor hobbies that he enjoys in Southern Florida as well.