Starting With My Why?


At the tail end of my families vacation I walked up the stairs of my grandfather Vern’s house (built by his own blood and sweat by the way), I saw him Sitting in his favorite chair with a blank look on his face. A look that could only be translated as someone whose mind was grasping an overwhelming truth. He sat there looking out onto HIS Big Wolf Lake, trying to come to terms with the fact that he had just months to live. Considering our relationship never went beyond the rare conversation about fishing, it was going to be hard to say my goodbyes but I knew if I was going to do it, this was going to be my last, and only, chance.

I nervously walked over and sat on the couch next to him preparing myself. As the thought of saying goodbye for the last time entered my mind, I knew my grandpa had lived a hard life but a life he was proud of. Looking each other in the eye was never something the men in my family were good at. It had an intimate and genuine vibe about it and no one wanted that level of interaction-especially, Vern Walters. Well, I was gonna make sure he looked me dead in the eye and held that attention too.

He needed to know this conversation wasn’t going to be about fishing.

As our eyes locked I held my gaze even though everything was fighting inside me to look elsewhere. I blurted out two simple sentences, and they took all the courage I had to say them.-“Grandpa, you are going to be leaving soon. What advice do you have for me.” -Boring? too simple? Maybe even shallow? It is hard to admit but that sums up me and my grandpa’s relationship.- He looked away for a second but quickly looked back. With tears in his eyes he gave me the simplest yet most genuine response.

“ Just be honest James. Just be honest. It is the best thing you can do.A short term investment with long term rewards.”

These few and simple words were delivered in the most vulnerable of moments. In fact, it might have been the most vulnerable I have ever witnessed someone. After he said that, he got up, grabbed my suitcase, and headed for the car. He died 4 months later in a Minnesota nursing home while I was finishing up my last year of college in San Diego.

Just be honest.

This lesson is something taught to us as 5 year olds. It’s a quality we search for in significant others. And it’s a critical component of what we consider, “good character”.
How could such a simple concept be SO important to us? Let alone important, but how about difficult!

The brutal truth is, genuine honesty is hard to come by. We have this switch inside us that subconsciously turns us defensive any time we are exposed to a new experience.

Just be honest.

This lesson is what has prompted me to seek true integrity in my life and work. As a financial planner, my DUTY is to be honest. Honest with family/friends, honest with clients, and especially, honest with myself.

This is what prompted me to start a blog. A simple way I can share knowledge at the little cost of 5–10 minutes of your time to read the article.

Poor investment savings isn’t because of a lack of resources but more of a lack of knowledge!

For example, 27% of retirees say their biggest financial regret was not saving money for retirement early enough (Marketwatch). In fact, More than half of those retiring this year will have under $100,000 (The Motley fool)!

Let’s do that math. The average salary of a US citizen is about $51,000 a year(census bureau report for 2013). So? If they have $100,000 in savings, how long can they maintain their standard of living in retirement? That’s right, LESS THAN 2 years!

What’s this tell us? It tells us that they didn’t prepare! At the very least, they didn’t prepare correctly.

One of the only quotes My Ten Second Tom-esque memory is capable of remembering; Luck= preparation + opportunity, simplifies just how successful a little preparation can be. Obviously, you can’t prepare for EVERY situation but you’d be surprised what an hour of preparation can do concerning your future.

When you are ‘lucky’, success has no choice but to follow.

44% of entrepreneurs under 30 say their number 1 financial regret was not saving enough (Forbes).

That screams the need for preparation.

SO? How do you get lucky and avoid having financial regrets?That’s where I come in. I want to bring you along on my journey to understand and master the financial realm. I plan on posting articles about relevant content that you WILL face during your life. Shoot, you may have already faced some of them!

Please check out my Instagram account for more content:

Thelandofmilk_and_money

As always, save early and save often!

James A. Walters, CRPC

“Securities America and its advisors do not provide tax advice. Please consult your tax professional regarding your individual tax situation”

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