My short story:
My mom, a HS math teacher, raised my sister and me to be responsible with money - debt was bad, and saving was good - but we learned little else. When I started working at PepsiCo/Frito-Lay, I "felt" rich (making 100's of dollars a week). But after 10 years, I didn't have much to show for it. When I finally met with a financial planner - it changed everything. My eyes were opened to the possibilities and strategies for success.
Getting a comprehensive plan was the best financial decision I've ever made. For the past 25+ years, my passion to "spread the word" through teaching and coaching drove me to create PathSetter Financial in 2022.
My Longer Story:
Raised by a single mom on a teacher's salary, I watched every dollar and considered myself a 'responsible saver'. I thought financial success was just about saving enough not to go into debt. I graduated from the State University of New York with a degree in Physics and Georgia Tech with a degree in Mechanical Engineering - so I was sure I could do the "math part of money", right? Wrong….
After almost ten years of working, I had no debt but no real "nest egg" either. My wife and I bought a house, but we didn't have enough money to put blinds up on all the windows (we used sheets on our bedroom windows for a year). A friend suggested I talk with a financial planner. I learned so much! It was a long-term plan with goals for retirement, future child 1&2 education, tracking net worth, and included a tax strategy. Getting a “comprehensive financial plan” was the best financial investment I ever made. I was fascinated to the point that I became a student of financial planning!
A few years later, I met the CEO of the Frito-Lay Federal Credit Union, and he suggested I join the board of directors. In 2000, I joined the board and was on 2 committees: Budget and ALICO (Assets, Liabilities, Investment). I observed that the primary objective of the banking industry was, of course, to generate profits. Banks accomplish this by lending as much money as possible with an acceptable probability that the borrower can repay it. Whether the consumer could also save for their own retirement was not their mission. The mission of the consumer became my focus!
In 2010, I left the board and went right to the "consumer". I developed an interactive seminar on financial basics and shared this information with over 4,000 people across more than 300 events over the next 15 years. Traveling for a national company gave me the opportunity to meet with employees across the entire US. I was fortunate to hear the story of hundreds of others during and after the presentations.
I also started a broad series of volunteer engagements in personal finance. I was in the IRS VITA program (Volunteer Income Tax Assistance) and prepared hundreds of federal tax returns. I did 1:1 coaching in Dallas. I joined a community organization that provided the opportunity to teach a financial literacy class, aiming to empower individuals to achieve financial independence. It was so rewarding! The image to the left is one of the graduating classes (ask me about a particular feel-good moment in one of my classes!).
Along the way, I wrote executive opinion papers on Stock Options, RSU's (Restrictive Stock Units), and Executive Income Deferral strategies. I also developed and presented a review of investments, focusing on the impact of sequence-of-return strategies, which is especially important in retirement.
Saving the best for last...my family. Tracy and I have been married for over 35 years and have two awesome sons (both Engineers), a wonderful daughter-in-law, and three fabulous grandchildren. I met my wife at work in one of the Frito-Lay facilities. I was on a forklift, so I drove up to her and asked her out.
I think the word 'passion' is overused. This work...Fills My Soul. I love financial planning and helping others with all the ways it can benefit them. It comes up in almost 75% of conversations I've had with strangers on planes, trains, parties, and other situations (my wife thinks 99%, and she may be right). Money doesn't create happiness, but an inadequately planned financial life takes away from your potential to enjoy all that life offers.
Helping others with their financial plan...Fills My Soul.
Financial Experience
25 years of experience including:
- Founder/Planner/Advisor/Educator at PathSetter Financial, a Registered Investment Advisor (RIA) firm.
- FINRA Series 65 Financial Advisor Law Exam
- FPQP® Certification
- Frito-Lay Federal Credit Union Board of Directors (Chair of budget committee and ALICO).
- IRS Professional Tax Preparer (IRS PTIN/eFile)
- IRS AFSP (Annual Filing Season Program) IRS website listing.
- VITA (IRS certified Volunteer Income Tax Assistance program)
- Taught Financial Empowerment classes at a Community College (volunteer for WINGS - Women In Need Generously Supported Org)
- Mentoring/Coaching 1:1 (volunteer at Interfaith Housing)
- Developed/Presented "Personal Finance Health" to over 4,000 attendees at over 350 sessions.
- Created White Paper on Executive LTI (Stock Options/RSUs)
- Attended Dave Ramsey Financial Peace University (for fun)
- Created White Paper on Executive Deferral Strategies
- Developed/Presented Investment and Sequence of Return Strategies to Professionals & Executives
- Member of XY Planning Network and NAPFA (National Assoc of Personal Financial Advisors)
I've had the unique opportunity to see different perspectives on the financial world. I've gained experience within the banking industry, enjoyed personal conversations with thousands of individuals through teaching and mentoring, and have an insightful understanding of executive compensation strategies. I've lived and demonstrated these principles throughout the various phases of my life, drawing on real-world experience. And I value my relationship with all my clients.
Business Experience
I started working at 14 bussing tables, then a camp counselor, fast food worker, and the owner/operator of a mobile snack stand.
After college, I joined Frito-Lay (a Division of PepsiCo Inc). During my career, I worked in several functions: engineering, R&D, project management, and both field and headquarters operations. I concluded my career as an executive in supply chain management. Over the years, I received three patents and developed operational synergies between people, processes, and technologies.
The best part of my roles was always working with others - hearing their concerns, aligning on objectives, identifying solutions, and planning for mutual success. There was always a new challenge, a unique problem to solve, or an opportunity to improve. I took a voluntary retirement to further pursue other life objectives, especially personal finance.