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Bonnie's Story

A Life Re-Moored

A Life Re-Moored

My first trip on our boat was a little (ok, a lot) like my first meeting with a financial advisor . . . a bit of a disaster.  I may have been a bit overconfident in captaining my first water expedition and, when I decided it was time to cast the anchor and enjoy our spot on the lake, I also “may” have neglected to confirm said anchor was secured to the boat before tossing it overboard. 

Picture me and my first mate, if you will - standing at the edge of the boat - watching helplessly as the anchor swiftly pulled the end of the rope past our disbelieving eyes and out of sight to the bottom of the lake.  

Oddly enough, this was the very same overconfidence I carried to my first meeting with a financial advisor.  It was my spouse's suggestion we schedule the meeting and I was a bit confused as to why.  It seemed all was shipshape with our finances; we both had stable jobs, we paid our bills on time and we were actively looking to purchase a seasonal cottage on a lake.

However hesitant, I attended the meeting with the financial advisor, most certain she would validate how great we were doing and send us on our way.  Sixty minutes later, I exited her office feeling about as secure as my anchor that has found its’ permanent home at the bottom of the lake.

During the meeting, we were asked a series of questions that, to my dismay, either I didn't have an answer to, or I didn't like the answer I was giving.  Questions included:  Are your parents still alive and are you expected to help care for them at some point?  What would happen to you, financially, if you were too ill or injured to work?  How much money do you have set aside for cash reserves?  How are you saving for retirement?

Fortunately, I could answer the retirement question and proudly presented my 401(k) statement.  "Great", she replied (the one and only time I heard the word great from her). "Now help me understand how you decided on this investment option."  So much for my small victory (cue me sinking in chair).  "To be honest", I mumbled, "they had a blue chip fund and well . . . I have blue eyes . . . and I like chips . . . so I chose the blue chip fund." 

I left the meeting uncomfortable, mad, embarrassed and perplexed. I have a bachelor's degree in business and considered myself to be a responsible person. How could I not have a plan in place to address these basic life questions? 

The following day I called the advisor and made a decision that changed the trajectory of my career and life.  I asked her to share with me everything about her job, the specifics of her role, the ins and outs of how she helps people and what she found to be the joys and obstacles of her work.  It was my "ah-ha" moment.  My life was forever changed. 

Fast forward twenty-six years and, as the captain of my own ship at First Anchor Wealth Management, I can honestly say I embrace each day with enthusiasm and joy for the work that I do. I consider it a great fortune to connect with so many different clients and to now be a witness to many “ah-ha moments” in our discussions.  

If you can relate to my experience and are feeling like you're floating with no wind in your sail, give me a call.  I am much better with an anchor now.

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