I have never written a detailed bio before, so this has been an interesting experience.
In short, I’m a pretty normal, average, and ordinary guy.
- I went to a great university, but not an Ivy League. (UW-Madison)
- I live in California, but not in LA. (Outside SF)
- I have a second home, but not in the Hamptons. (Hazelhurst, WI)
- I own two businesses, but they are quite small. (2 & 3 employees each)
But I have and continue to make my own luck. Hard work and good decisions lead to good things for me. And, I’m thankful.
Writing a bio is, of course, highly reflective. I suggest you do the same. If you’re like me, it’s easy to get caught up in the daily grind. It’s difficult to see how our daily work fits into larger trends. Writing a bio, if it does nothing else, forces us to see just how far we’ve come.
I have organized my life into four distinct stages. (How tidy!) I list my age during this time, the corresponding years, and then draft a very short summary.
Next, I share a few things that jump out at me as having gone very well during that time or not so well. Enjoy!
Life Stage 1 Growing Up
Childhood through college. 1976 to 1997. Ripon, WI (small town) to UW Madison.
Some kids are savers. Some are not. I was. I mowed lawns, babysat. I worked summer jobs. I saved my money in a passbook savings account at my local bank (M&I State Bank). I used the money for college and, with some scholarships, graduated debt free.
How’d it go?
- (+) I saved early and often, often not knowing what it was for. I’m fortunate to have done this.
- (+) While I didn’t know it at the time, leaving college debt-free was huge. It allowed me to start saving from zero, not from a hole.
- (-) In high school, my dad offered to help me start a lawn care business. I didn’t do it, but wish I had. I’d need to wait 20 more years to start a business.
- (-) I wish I had backpacked around Europe at this point in my life. Traveling around Europe is a big part of my ten-year plan.
Since this is a personal finance blog, at the end of 1997, what did I have to my name? $5,000
Life Stage 2 Establishing a Skill: Consulting
My 20s. 1996 to 2005. Madison to New Orleans to San Francisco!
I met my wife in my 20s, and we married (2001). She pushed me to do things differently. My experiences were wide-ranging. From a business degree to teaching (Teach for America) to big consulting (Accenture). I ended my 20s with a skill I would rely on for another 15+ years.
How’d it go?
- (+) Claire is my partner in life. Professionally, she helped me ask the questions: “why am I doing what I’m doing?” and “should I be?”
- (+) I sold my mutual funds in Jan 2000, before the dot-com crash, to pay for grad school. I was darn lucky.
- (-) I could have house-hacked while in Madison.
- (-) Buying a large whole-life insurance policy (when I didn’t need it) was a huge mistake. I took a big loss to get out of it but slept far better afterward.
I found Vanguard index funds and saved everything I could for retirement. $150,000
Life Stage 3 Working Very Hard
My 30s. 2006 to 2015. Moved throughout the Bay Area: San Francisco, Berkeley, Alameda
As a consultant, I managed projects of increasing complexity in my 30s. I spent five years each at a mid-sized consultant (Point B) and a university health system (UCSF). Claire and I had a son, bought real estate, and stretched ourselves too thin. I aged in my 30s.
How’d it go?
- (+) I found three great mentors who I didn’t appreciate until later (Tim, Darran, Keola). I learned the importance of a strong culture in business.
- (+) Our choice to invest in real estate was a good one. We bought our Bay Area home in the depths of the housing downturn (on purpose, believe it or not.)
- (-) Early fatherhood was stressful. My work commute was bad, and I was away from home too much. Parents of young children have it tough; it is a challenging stage of life.
- (-) I didn’t pay close attention to my investments (80/20 portfolio). I earned an okay return but could have done better.
I continued to save for retirement. I put my leftover savings toward real estate. $500K plus home (California) & 2nd home (Wisconsin)
Life Stage 4 Becoming My Own Boss
Ages 40-46. 2016 to 2022. Alameda for 9 months & Summer on a lake in Wisconsin
I started a software business with friends (ReadyList) and consulted independently (Herriot Consulting). And, I began my third venture in Fast Follow Investor.com. COVID hit our family hard (no to homeschooling!), but it also opened doors.
How’d it go?
- (+) Becoming my own boss improved my take-home big time. There are tax efficiencies too.
- (+) In the last 2 years, I have been able to streamline my efforts too. I spend time on the important things and pay for the other stuff (yard work).
- (-) My big mistake was moving my investments to cash when COVID hit. I missed out on most of the market run-up.
- (+) That mistake forced me to find my forever investing strategy. Now, I want to share it with the world.
My savings increased as a business owner. I put it in taxable investment accounts. I refinanced both properties to 15-year, low-rate, fixed mortgages. $1.75M plus home & 2nd home
After reviewing what I’ve written above a few times, a few lessons jump off the page at me.
Let’s call these my five lessons for well-intentioned investing.
- Investing in yourself is the best investment you can make.
- Take more big swings early when you have less to lose; don’t wait to be your own boss.
- Invest well using the Fast Follow Investor strategy. From the start.
- You learn as much, if not more, from your missteps than you do from your successes.
- All experience is good experience. And, in time, that experience becomes wisdom.
I have so much more to learn.
What’s next for me?
- I want to get better at leveraging my time.
- There is more work to do to understand my purpose in life.
- Lastly, I want to get back to teaching…
