My short story:
My mom, a HS math teacher, raised my sister and me to be responsible with money - debt was bad and saving was good - but we learned little else. When I started working, I "felt" rich (making 100's of dollars a week), but didn't have much to show for it. When I finally met with a financial planner - it changed everything. My eyes were opened to the possibilities and strategies for success. Getting a comprehensive plan was the best financial decision I've ever made. For the last 20+ years, my passion to "spread the word" through teaching and coaching has driven me to create PathSetter Financial.
My Longer Story:
Raised by a single mom on a teacher's salary, I watched every dollar and considered myself a 'responsible saver'. I thought financial success just was about saving enough to not go into debt. I graduated from the State University of New York with a degree in Physics and Georgia Tech with a degree in Mechanical Engineering - so I was sure I could do the "math part of money", right? Wrong….
After almost ten years of working, I had no debt but no real "nest egg" either. My wife and I bought a house but we didn't have enough money to put blinds up on all the windows (we used sheets on our bedroom windows for a year). A friend suggested I talk with a financial planner. I learned so much! It was a long-term plan with goals for retirement, future child 1&2 education, tracking net worth, and included a tax strategy. Getting a “comprehensive financial plan” was the best financial investment I ever made. I was fascinated to the point that I became a student of financial planning!
A few years later I met the CEO of my Federal Credit Union and he suggested I join the board of directors. In 2000, I joined and was on the Budget and ALICO (Assets, Liability, Investment) committees. I saw how the objective of the banking industry was to make money, of course. Banks accomplish this by loaning as much money as possible with an acceptable probability the consumer can pay it back. Whether the consumer could also save for their own retirement was not their mission.
In 2010 I left the board and went right to the "consumer". I developed an interactive seminar on financial basics and shared this information with over 3,000 people at over 200 different events over the next 15 years. Traveling for a national company gave me the opportunity to meet with employees across the entire US. I was fortunate hear the story of hundreds of others during and after the presentations.
I also started a broad series of volunteer engagements in personal finance. I was in the IRS VITA program (volunteer income tax assistance) and prepared hundreds of federal tax returns. I did 1:1 coaching in Dallas. I joined a community organization that provided the opportunity to teach a financial literacy class to empower financial independence. The image to the left one of the graduating classes.
Along the way, I wrote executive opinion papers on Stock Options, RSU's (Restrictive Stock Units) and Executive Income Deferral strategies. I also developed and presented a review on investments with a focus on sequence of return impacts and strategies which is especially important in retirement.
Saving the best for last...my family. Tracy and I have been married over 35 years and have two awesome sons (both Engineers), a wonderful daughter-in-law and two fabulous grandchildren. I met my wife at work in one of our facilities. I was driving a forklift and drove up to her and asked her for a date - she said no, at first ;)
I think passion is an overused word. This work Fills My Soul. I just love financial planning and helping others with all aspects of what it can do for them. It comes up in almost 75% of conversations I've had with strangers on planes, trains, parties and other situations (my wife thinks 99%, and she may be right). Money doesn't create happiness, but an inadequately planned financial life takes away from your potential to enjoy all that life offers.
Helping others with their financial plan...Fills My Soul.
Financial Experience
25 years of experience including:
- Planner/Advisor/Educator at PathSetter Financial, a Registered Investment Advisor (RIA) firm.
- FINRA Series 65 Financial Advisor Law Exam
- FPQP® Certification
- Federal Credit Union Board of Directors (Chair of budget committee and ALICO) - 10 years.
- Professional Tax Preparer (IRS PTIN/eFile)
- VITA (IRS certified Volunteer Income Tax Assistance program)
- Taught Financial Empowerment classes at a Community College (volunteer for WINGS - Women In Need Generously Supported Org)
- Mentoring/Coaching 1:1 (volunteer at Interfaith Housing)
- Developed/Presented "Personal Finance Health" to over 3,000 attendees
- Created White Paper on Stock Options/RSUs
- Attended Dave Ramsey Financial Peace University (for fun)
- Created White Paper on Executive Deferral Strategies
- Developed/Presented Investment and Sequence of Return Strategies to Executives
- Member of XY Planning Network, NAPFA and FPA (Financial Planning Association)
I've had the unique opportunity to see different perspectives of the financial world: from inside the banking industry, to personal conversations via teaching and mentoring thousands, as well as understanding executive compensation strategies. I've lived and demonstrated these principles through the many phases of my life with real world experience.
Business Experience
I started working at 14 bussing tables, then a camp counselor, fast food worker, and the owner/operator of a mobile snack stand. After college, I joined Frito-Lay (a Division of PepsiCo Inc). During my career, I worked in several functions: engineering, R&D, project management, and both field and headquarters operations. I finished my career as an executive in supply chain. Over the years I received three patents and developed synergies between people, processes, and technologies.
The best part of my roles were always working with others - hearing their concerns, aligning on objectives, identifying solutions, and planning for mutual success. There was always a new challenge with a unique problem to be solved or an opportunity to improve. I took an early retirement to further pursue other life objectives - especially personal finance.