Jack Bogle was the founder and chief executive of The Vanguard Group, and is credited with creating the first index fund.
He was an avid investor and money manager and preached investment over speculation, long-term patience over short-term action, and reducing broker fees as much as possible.
The ideal investment vehicle for Bogle was a low-cost index fund held over a period of a lifetime with dividends reinvested and purchased with dollar cost averaging.
According to Bogle, starting investment in early life is an important factor for success.
Therefore, parents should help their kids do investments even when they are very young.
In this video, Bogle talked about how he helped his children and grandchildren start to invest in the market when they were young.
He advised parents to buy index funds for their kids and hold for a long time until the kids grow up. This can help them accumulate wealth and learn how to do long-term investments.
Source: Finance Jane.
