After Hurricane Katrina, I wanted to go back to New Orleans to help musicians return to the city. But Andrew Young advised me, "If you want to help people, go work at an investment bank." His contrarian advice opened my eyes to the importance of capital. "Learn how to make some money before you give it away." I learned that you can bring about good in the world especially if you have a paycheck.
Kabir SehgalI think the money for the solutions for global poverty is on Wall Street. Wall Street allocates capital. And we need to get capital to the ideas that are successful, whether it's microfinance, whether it's through financial literacy programs, Wall Street can be the engine that makes capital get to the people who need it.
Kabir Sehgal"Begin with where you are." Everyone is looking to get ahead, but you get ahead by doing well at the things that are immediately in front of you.Start with the people around you, learn from them, and invest in them.
Kabir SehgalWe don't invest in financial literacy in a meaningful way. We should be teaching elementary school children how to balance a checkbook, how to do basic accounting, why it's important to pay your bills on time. First, education. Begin the learning process as early as possible, in elementary school. Second, encourage and support entrepreneurism. Third, policy. I know it's a priority of the US Treasury to augment financial inclusion and increase financial literacy.
Kabir Sehgal