Roger Farah on personal finance
From Roger Farah - TST Podcast #869 · · TheSmokingTirePodcast
“I've had friends come to me and ask, 'Will you invest in my business?' My answer has been no—not because it's a good or bad idea, but because I know it's going to ruin the friendship.”
On , Roger Farah, Executive Chairman of the Board at CVS Health, spoke about personal finance during Roger Farah - TST Podcast #869 on TheSmokingTirePodcast.
About Roger Farah
Roger Farah appeared on The Smoking Tire Podcast in October 2023, where he discussed investment strategies, workplace trends, and leadership. He advised that mutual funds are the most effective way for most people to invest for growth, noting that compounding at seven percent annually doubles a nest egg every ten years. Farah cautioned against investing in friends' businesses, stating that doing so can ruin the relationship, and recommended against investing in a lifestyle one cannot afford independently. He also addressed hybrid work, describing it as permanent and noting that CVS Health is reducing office square footage by 40 percent through hoteling and shared spaces. Farah commented that commercial properties are increasingly being converted into medical centers, university facilities, or residential units. He stated that the United States was founded on middle-class success and that government policy should aim to help the middle class and new workforce entrants succeed over time. Farah also suggested that if a rising internal leader had 15 minutes with a board member, the board would value an honest assessment of the company's current state or an idea for improvement.