I have always known I wanted to be a financial planner.
Hahaha…I can’t even type that with a straight face.
So often, when perusing the bios of other advisors I see statements similar to the one above. They may very well be true. I know plenty of advisors who graduated college with a business degree and watch CNBC in their free time.
That is definitely not my story. I have always enjoyed math and been good at numbers and problem solving. Those interests, however, never inspired me to pursue a career in business.
I Once Had No Interest In Business
When I considered studying business it seemed either dull or slimy. It was all facts, figures, and formulas (accounting, economics, statistics) or it was about manipulation (sales, marketing, advertising). Neither path appealed to me.
*** I know plenty of lovely individuals with business degrees, I am speaking only to my own feelings and experiences***
In college my mother regularly tried to convince me to become an accounting major. I even took Accounting 101 just to satisfy her request. I struggled in the class and felt vindicated that I had been right about my accounting abilities.
Instead, I pursued a BA in English literature (not dull or sleazy, but also not very lucrative). I followed that up with an MA in Elementary Education. Sadly, six years of education later, I discovered that I love learning, the philosophy of education, and instructional design. Actual teaching, however, was not my calling.
How I Came to Be a Financial Planner
I fell into the field of personal finance completely by accident.
I left teaching, but still needed to earn money and pay my bills so I got a job at T. Rowe Price Associates. TRP is a large financial company and they hired and trained those with college degrees, but no experience or knowledge, to provide customer phone support.
It was far from my dream job. In fact, I still have recurring nightmares about working in a phone bank. But I am very appreciative of the training I received at TRP. I was introduced to field I knew nothing about and unwittingly started down a new career path.
Seeing Strength In My Differences
Right about now, you may be wondering why I am giving you my long form resume. My purpose is to convey is that I was not born to be a financial planner. I don’t daydream about investments or tax code.
I would suspect that most folks reading this feel the same way.
For many years, this felt like a professional disadvantage. I thought true advisor should want to track stock prices or discuss yield curves. More recently, however, I have begun to recognize the benefit of having a life before finance.
I can recall a time when I did not know what an IRA or a covered call was. So, when I speak with clients I can relate to where they are coming from. When we have a passion, it can be challenging to identify with others who do not share that passion. My mother in law cannot understand why I don’t want to spend an hour a day gardening, because that is her happy place. Likewise, it can be challenging for some advisors to understand a client who does not want to know all of the minute details about their investment portfolio.
My true passion is not for the financial plans themselves. It is for the people implementing those plans. I love helping people to gain confidence in their ability to manage their finances. I get joy out of using my knowledge to help others chart a financial path to achieve their goals.
If you have spent any time in the personal development space you have certainly heard that your uniqueness is your superpower. I confess that it took me over 45 years to really feel the truth of this concept. I can now celebrate that my prior lack of interest in finance, which I once saw as a hindrance, helps me to better relate to clients who are disinterested in personal finance.
Stop Focusing On Shortcomings
It is easy to emphasize what we need to change and harder to focus on what we are getting right. There is a tendency to fixate on perceived shortcomings and believe that we are uniquely defective. What is more helpful is to bring our attention to our unique abilities that allow us to succeed and reach our goals.
Likewise, I want us all to focus on our financial successes. People may worry that they are bad at budgeting or they are not saving enough for retirement. I am very interested in helping others improve these practices. But, there are also, undoubtedly, aspects of their finances of which they should be proud. Maybe they have a good credit score or have their estate planning documents in place.
Have you ever painted a room? If you are like me, you can have every brush stroke perfect with the exception of that one dot of wall color that landed on the trim. Rather than appreciating the beautiful wall, you will sit in the finished room and fixate on that one spot of paint.
What Are You Doing Right?
So, my challenge for you today is to consider what you are doing right. I will get you started with a list of financial accomplishments that you may not even be considering. There will be items listed below are still on your “needs improvement” list. Very few people can check every box when it comes to financial management. We all have our struggles. We all have our skills. My goal is to provide a starting point for thinking of your accomplishments:
- Have a high credit score
- Pay your bills on time
- Have been hired and Maintained a Job
- Have established credit
- Are able to live frugally
- Have a good rental history
- Know how to comparison shop
- Are insured (health insurance, life insurance, homeowners insurance, auto insurance, etc.)
- Have a will
- Are up to date on your taxes
- Have a retirement account (IRA, 401(k), 403(b), Pension Plan, etc.)
- Are paying into social security
This is clearly not a comprehensive list. But, I hope that it shows you that you have some financial successes that you are not even considering. In reviewing this list, I certainly know people who are unable to check each of these boxes. So, take time to acknowledge the achievements that you have already made.
And, know that by working in incremental steps you can continue to make progress.
My life is so much more satisfying since I have recognized my professional singularities and launched my firm. Recognizing how my unique viewpoint and skill set can benefit others has been very gratifying. Similarly, we all have unique financial skills and accomplishments. Learning to acknowledge and leverage these skills will help us to achieve my satisfying financial lives.