About five months ago, I wrote a One Wealth Perspective on an important goal I had set out to achieve: passing the CERTIFIED FINANCIAL PLANNER exam. On Friday, November 3rd, after 14 months and approximately 1200 hours of studying, 170 questions and 6 hours in a cubicle at a Reno testing center, and maybe a few tears later, I did just that.
Last week, WeWork, a company known for the lofty goal of creating community in the office space, filed for bankruptcy. WeWork was my first job out of college, my introduction to San Francisco, and a teacher of what I value in the workplace.
For those of you that know me well, you know I have a tendency to take on projects that consistently challenge me – and the results have often been incredibly satisfying once the project is in place. One of the ways that I increase the chance that I will take action when I have inspiration is to share the idea with those in my sphere. By doing so, I become accountable to anyone I have shared the idea with. The accountability becomes highly motivating, as I am someone who is proud to be a person others see as doing what I say I am going to do.
Did I scare you? You want to know what’s been scaring me lately? Unprecedented weather. The ceiling of my room, which is the shape of a coffin. A death count over 9,000 and what the number will be when it’s all over. Recurring-Thoughts-of-Death Barbie. Angry, lonely men with guns. Being angry, but mostly, being lonely. The ubiquity of horrors. How inured we’ve all become to empathy. Now I’ve made you scared and depressed. Which is exactly where I wanted you because I’m about to lift your ghostly spirits by telling you why I love Halloween. And why you should too.
As you may have seen, heard, or read, there was a very short lived trend last month on TikTok, X, and Instagram Reels that uncovered a subset of people that apparently ruminate on the Roman Empire with a shocking frequency. I’m not one of them. But the meme did cause me to step back and ask ‘Well what random thing DO I spend an inordinate amount of time thinking about?’ For me, at least over the last decade, I think that ongoing thought in my head revolves around demographics.
Today I sent my daughter off to her first day of toddler “school.” This new phase will be her first time leaving the house for the whole day on a regular basis. While I feel a sense of relief (to now be able to work from home without distraction), I can’t help but think about what the future might hold for our family at other big life stages. We live in an expensive area with access to excellent public schools and are living a lifestyle that means we may not be financially independent for quite some time. This might mean we’ll have to make sacrifices from time to time especially in comparison to others living in the same area. Despite lamenting about it constantly, I am actually at peace with it. At the end of the day, I just want my kids to live happy and peaceful lives and I believe I have and will continue to set them up as best I can to do so.
As a young lad in high school, I was a mediocre student for reasons that I won’t get into, but could be a whole other discussion. When I got to college it was a different story. What changed? Goals. For some odd reason I got it in my head that I wanted to graduate with highest honors and once I made that commitment, everything changed. All my behaviors became about the goal. I made it to every lecture and sat in the front row of every classroom so I could be closer to the action. Sure, there was the occasional party till 3AM and then being in a lecture hall on campus for a 7AM class, but I never missed one.
Most clients know we preach asset allocation, which is an investment approach that helps spread your risk and opportunity across a variety of stocks, bonds and other investments. Well, it hasn’t worked so well this year. Despite some equity indices being up for the year, the average stock is up only about 1% so far and bonds are generally down again, after having their worst year in generations. What is one to do?
I would like to introduce our newest employee, Thomas Kone. I met Thomas and his family through our shared love of basketball. He is a good friend of my son Hayden, and we have known him and his family since the 7th grade (my, how time flies!). Thomas and Hayden played middle and high school basketball together. Thomas reached out to me earlier this year looking for a summer internship, and he joined us in June. As an intern, he was influential in helping us find new ways to more effectively utilize our technology platforms. Thomas brings a skill set that is, quite honestly, something we haven’t seen and he adds tremendous value to the team. He is currently working on his Bachelor of Science in Computer Science while helping us out on a part-time basis. It’s a really great feeling to see Thomas grow up and blossom right before my eyes, and I couldn’t be happier to have him join the One Wealth team. Welcome Thomas!
As the resident technology lead at One Wealth Advisors, last week I had the opportunity to attend the Coachella of tech conferences: Dreamforce. Dreamforce is sponsored by Salesforce, a company that builds Client Relationship Management (CRM) systems for organizations, including OWA. The theme of this year’s conference was Generative Artificial Intelligence (AI) and how it can help different types of companies, including Financial Planning firms, in a variety of areas, such as predictive analytics, risk management and AI enhanced customer solutions.
