This Easter weekend I would like to speak to the younger generation, those who in this very difficult time wonder about their future, or if they will even have one.
When I got married, I lived in Las Vegas at a time when the nation was suffering through a very painful recession. Unemployment was high and the future looked dim. Being an optimistic person, I always believed difficult times held opportunity for those willing to work for it. One particular day I was driving around town and I came upon a partially framed home on a lot overlooking the city. It was clear the project had been abandoned for some time. When I found the owner, he was thrilled someone might be interested in it. We made a quick deal and the next day I stopped by my bank and secured a construction loan at the very unreasonable interest rate of 18%.
At the young age of 23 I had a theory that with so many builders out of work, I could probably secure cheap labor and materials to complete the project. My theory played out well because no sooner did I commence work on the property than a steady stream of contractors and suppliers stopped by to offer their services, at almost any price. My home was quicky built and I was able to secure permanent financing at a very attractive 12%. (You young home buyers today are totally spoiled)
While building the home a friend asked why I would attempt such a project when experienced contractors were unwilling to do so. After a brief pause I responded, “The gold eggs in life are usually found in the nest farthest out on the limb. Those who would have them must be willing to climb out after them.”
That answer stuck in my head for years until I finally decided I needed to write a book about it, a book that both young and old could learn from. Thus was the inspiration for my first children’s book, “The Gold Egg.”
The principles I learned while building my home many years ago are still true today. Life is full of challenges, and we can either let them get us down, or we can rise up and find the opportunity in them. I work with many people who became successful investors, not because things always went right, but because they never stopped climbing. Behind every successful retirement account is someone who stuck with it, through good and bad, finding opportunities in both. Things didn’t always go well for them, but they never stopped climbing.
Young people, don’t worry about the troubles in the world around you. Identify your gold egg and start climbing towards it. Work, learn, save and sacrifice and you can be the master of your own destiny. Sometimes it will be easy and sometimes very difficult, but success comes to those who keep climbing. Happy Easter!
Hi, I'm Dan. I'm a CFP® Professional.
Securities and advisory services offered through Commonwealth Financial Network®.
Member www.finra.org / www.sipc.org , a Registered Investment Advisor. Wyson Financial, 375 E Riverside Dr, St. George, UT 84790
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