My story in finance started by accident when I took a chance with a company offering me the chance to help teachers plan for retirement. We did this by helping them set up their 403b plans through their local school districts (similar to company 401ks). Both my parents were teachers, and I was not excited about the more traditional path for me within the engineering industry, so I went for it. The job was 100% commission and we called straight from school directories once a district approved us. 

That job was tough, and taught me a lot, but what I fell in love with was helping all those teachers. While I knew very little about the broader world of finance back then, I knew just enough more, at just that time, to have a positive impact on their life. In many cases it was just the help they needed to make that one small adjustment…that had profound implications for their future. However, even after helping all those teachers start saving for retirement, what I carried around most those early years was guilt, from having “sold” them an annuity. The fact that I cold called them, “sold” them an annuity, and earned a commission, already had me feeling “icky”…even back then in the late 90’s. The guilt was compounded by the many spouses who bragged of their 30%, 40%, even 50+% returns in the stock market…every year. The younger me used that guilt as motivation to learn all he could about personal finance, and specifically investments. They had to be making those returns because they knew more than me. Why else was I stuck selling a fixed/indexed annuity that would only make a lousy 8% the next few years? 

It wasn’t until many certifications later, and a huge drop in the market, that much of that weight was lifted. I was out in Dallas one night when a woman mentioned to her friends that I was her financial advisor. While it took me a second to remember her, it became instantly clear when her next comment floored me.” She said, “I saved her marriage…” and then proceeded to explain how her husband lost all their savings in “tech stocks.” Fortunately, her retirement account, “was always going up and was then more money then she had ever had.” That stability also helped them through some difficult financial times. Sage guidance from earlier in my career stated that those “who do good” in the short term, always “come out well” in the long run. I felt the power of that wisdom firsthand during that experience.