Ep 122: Dave’s Best and Worst Personal Money Moves

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Join Dave and Nick as Dave reveals one of the best and worst money decisions he’s made over the years.

Don’t worry, you will hear from Nick soon, as he reveals his own trials with money as well.

People often assume that because we are financial planners and have lots of experience we never screwed up along the way. Our clients are often surprised when we tell them about mistakes we’ve made or things we almost did.

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A Tough Investment Choice

One of the toughest things Dave went through earlier in his career was buying a new house before selling the old house. He and his wife thought it would only take a couple of months to sell the old house. However, it ended up taking about two years. So they had two mortgage payments for two years.

Great Investment Choices

Dave is very happy with his retirement planning for his own future, but since that is an ongoing story and he hasn’t retired yet, he also talks about his children’s education funds. “I’m pretty proud of the fact that we started 529 plans for the kids when I was brand new in this business. It was one of the first things I did for myself that we were also doing for clients. My daughter was about 3 and my son was a newborn and we committed right then to putting money away for their education. It was at a time when things weren’t as nailed down in our own overall financial picture. There were other things that could  easily have been talked into other priorities but we started small and added to it.”

In the end, their 529 plans paid for their kids’ education in full.

Related: 529 College Savings Plan Basics

Dave and Nick go on to talk about more investment choices and compounding interests.

Do you have a great, or not-so-great investment story that you’d like to share? We’d love to hear it.
Please send it to info@srbadvisors.com.

About Shotwell Rutter Baer

Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This means that we are only compensated by our clients for our knowledge and guidance — not from commissions by selling financial products. Our only motivation is to help you achieve financial freedom and peace of mind. By structuring our business this way we believe that many of the conflicts of interest that plague the financial services industry are eliminated. We work for our clients, period.

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Call us at 517-321-4832 for financial and retirement investing advice.