Common Sense Investing… Thankful For A Good Teacher
Issue 45.09
In 1965 at the age of seven I began working for my Dad mopping the floors in his aircraft parts manufacturing plant. It was hard work but the 50 cents an hour made it worthwhile. On the way home we often stopped by Knott’s Berry Farm to ride on the old Model T cars. It was one of the only rides in those days. The cost was one hour’s pay but it was well worth it. I often wished he would let the janitor mop the floors and just give me the money to ride the cars.
By age fourteen I had moved up to the milling machines and was earning $4.50 an hour – an astronomical wage at the time. The job required cutting wing struts and small parts for the Lockheed L1011 wide body jet. He trained me how to carefully and safely use the large machines to cut the parts to within the thousandths of an inch required by the specifications. If the part was cut incorrectly you could not tell by looking at it, but it would show up in quality control and be rejected. I learned that the smallest error in measurement could result in improper metal fatigue and premature failure of the part, which would be disastrous for the plane.
The lessons learned in that dirty factory have served me well as a Certified Financial Planner®. I learned the value of taking time to do my work carefully and to exact specifications. There is a general assumption that most investor accounts were decimated by the market crash. Some days I wish it were legal for me to publish the results our clients saw at Wyson Financial. I am sure people would be surprised at how well our financial aircraft flew through the turbulent storm. I am so thankful to my Dad for teaching me such valuable lessons that I still use every day.
A good portfolio is not much different from a well-built aircraft. Seemingly small errors can lead to weakness and failure in the future. When I fly commercially today, I often look out at the wings of that plane and, thinking back on that fourteen year old kid, I am thankful my dad taught me to take the time to do it right.
Dan Wyson, CFP® is author of the book “21 Financial Myths” and owner of Wyson Financial, 1173 S. 250 W #305 St. George 435-986-9525 - Securities offered through LPL Financial member FINRA/SIPC
