Personal Finance Column – Celebrating the Founder’s 100th Birthday
In 1934, when The New York Post hired a young newsletter publisher S. F. Porter to write a finance column three times a week, it was a new phenomenon. The author eschewed the complex jargon that investors and government usually hid behind, instead explaining concepts in plain English. By the time that The Post revealed that the respected S. F. Porter was, in fact, attractive 29-year-old Sylvia Porter, she had a following in the millions.
Porter, born in 1913, started college right before The Depression. She grew interested in finance after her mother lost $30,000 in the stock market crash. Porter’s mother urged her to pursue career interests, and Sylvia switched her major from English to Economics. She gained an expertise in savings bonds and found a job at an investment firm, where she learned about gold prices, the bond market and currency fluctuations. She pursued an MBA and began publishing her bond newsletter before finally landing the job at The Post. She published her money manual Sylvia Porter’s Money Book: How to Earn It, Spend It, Save It, Invest It, Borrow It and Use It to Better Your Life in 1975. The book has been periodically updated and remains a fantastic resource for demystifying money and getting a handle on your financial life. A few of Sylvia Porter’s best lessons: