What is not conveyed in the video, and that we want you to know:
- Math and science are his natural cognitive aptitudes. He graduated with honors as a double major in economics and political science and double minor in chemistry and classics.
- His four work areas (called rotations) at J.P. Morgan illuminated his attention to detail, efficiency, and accuracy, and have been one of his markers for praise.
- Knight earned excellent grades in school. Even more impressive was the consistent feedback from his professors and teachers throughout high school and college about his ability to participate vocally in class, bring new ideas to conversation, and up-level the education experience for all students.
- Discipline and dedication are necessary capacities to be a skilled financial planner. Knight demonstrates these capacities in many ways, as a third-degree karate blackbelt, and currently through daily weight training at the gym.
We asked Knight to share his passion for economics and political science:
One aspect of economics that always intrigued me was seeing how micro-shifts in any aspect of money can lead to macro-impacts in many aspects of our daily living. For example, a milk shortage in the Northwest Dairy Association can lead to a steep increase in your favorite morning beverage that contains milk. The model of the economy is cause and effect, just like our personal finances reflect the same cause and effect. The challenging and interesting aspect of economics – world and personal – is analyzing the situation to determine what aspects of economics are critical factors and what aspects of our personal choices make the most difference for our well-being.
Humans are just like the economy, we are a cause and effect. The greatest joy I have is being able to figure out people’s inputs and thus lead them to the most sustainable and beneficial output. Theoretically and philosophically, we gain inspiration from asking good questions. Like, why are we here? What do we truly know? How do I live a fulfilled life? How do I assist others to live their fulfilled life?
We asked Knight to share a few thoughts about money, investing and his experience:
Investing is discipline and consistency. Take a year-over-year rate-of-return of 6% with 40 years as an investment timeline, a person would need to invest about $5,000 a year to accumulate $1,000,000 by age 65. The truth about investing and gaining financial freedom is that it comes down to building what I like to call “millionaire habits.” If a person starts saving in their 50s, rather than in their 20s, they need to save a much higher annual number ($42,000) to accumulate the same million by age 65. Many people have the ability to save skillfully and have their money work for them, but do not have the financial acumen to make those decisions or the support of discipline and practice to implement good habits.
All investment philosophies indicate that we should be rewarded for the amount of risk we take in our investing. A Sharpe ratio is a method used by portfolio analysts to measure the risk-reward benefit. The work of a financial planner is to guide and navigate the optimal levels of risk for the unique circumstances of the individual. Being able to cognitively understand the way money works, accumulates and flows, while connecting to the genuine desires and life of another, is my dream. Bringing together my love of puzzles, being challenged to figure out the best answer, and helping people I care about find their happiness, is my purpose and passion.