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The $7 Million Bat Mitzvah

The $7 Million Bat Mitzvah

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My AEPi fraternity brother and financial consultant, David Ogman of Boca Raton, Florida, posted a very interesting LinkedIn commentary today. When the rabbi of his synagogue called to schedule his daughter’s Bat Mitzvah he considered how a long term investment would yield a sizable retirement fund for his daughter in lieu of a $100,000 Bat Mitzvah party:

DavidOgman: The $7 Million Bat Mitzvah…

Rabbi Calls Me Yesterday and Says It’s Time to Book My 10 Year Old Kira’s Bat-Mitzvah Date ?

My Wife’s Friends All Call Each Other Talking About Elaborate Party Ideas with Miami Dolphins Cheerleaders or Maybe Taylor Swift Appearance and Limos and Fancy Venues ?

As a Wealth Advisor, I Shut Down That Conversation Quickly! I Have Zero Interest in Keeping Up With The Cohens In Boca Raton ?

The Only Interest That I Have Is What Albert Einstein Called the 8th Wonder of the World: Compound Interest ?

If I Have a Bat Mitzvah Ceremony Where Kira Reads From The Torah (Low Cost, Small Donation), but I Skip the $100,000 Party and Instead Invest That Lump Sum (One Time) in the S&P 500, It’ll Grow From Age 13 to Age 65 for a Retirement Windfall of $6,955,788 ?

Now That’s a Bat Mitzvah Gift ?

$7 Million Bat Mitzvah