John K. Ritter, CFP, CFS
Fun "return on investment" fact to start your week.
On this day in 1837, immigrants William Procter, an English candlemaker, and James Gamble, an Irish soapmaker, opened shop in Cincinnati. The business boomed, and soon each man put up $3,596.47 to launch Procter, Gamble & Co.
That investment in 1837, adjusted for purchasing power due to inflation (an average of 1.82% during this time), equated to an investment in today's dollars of $98,533.57. So, an investment of less than $100,000 by each man is what started a company now worth more than 350 BILLION dollars.
We hope you have a great week!
This material is not to be construed as investment advice or a recommendation to buy or sell any security. Investing involves risks including possible loss of principal. Past performance is not a guarantee of future results and there is no guarantee an investment will be successful.