I was about to get fired
It was late summer in 2005. The incident happened on a Friday afternoon and I was pretty sure that on Monday I would be out of a job. Over the weekend I assessed my situation:
Credit card debt? Yep.
Car loan? Check.
Student loans? You bet.
Mortgage debt? Of course.
Savings? Not much.
Retirement savings? Nope!
I was 30 years old and in worse financial shape than I had ever been my entire life, and I was about to lose my job. Fast forward to that Monday…
“You did what?” asks my boss. “Oh that? I’ve done that! No worries, just don’t do it again.”
Fortunately for me my worst fear did not come to pass. But that very long weekend drove me to make some significant changes.
Born out of crisis.
Unfortunately for me my financial planning journey started in a similar fashion to a lot of people. Something goes wrong and panic ensues. Hopefully this is not your case.
What is ironic to me, is that it took the specter of getting fired to kick start my own personal planning process even though I was working as a portfolio manager and had already received an undergraduate and masters degree in finance.
A financial plan does not hold all the answers but it does act as a guide and touchstone to your personal financial life. Don’t wait for the crisis. This does not need to be your path.
Hello! I’m Adam. I have been investment management and personal finance professional for over 18 years. I strive to maintain a “keep it simple” ethos towards financial planning and personal finance.
I enjoy talking about and teaching money skills, general finance, financial planning and investment concepts. I even teach a couple of classes at the local community college.
I have a Bachelor of Science in Finance from Boston College (cum laude), and an International Masters of Business Administration (IMBA) from The Darla Moore School of Business.
During my investment management career, and prior to embarking on my financial planning career, I held various roles. I was a Portfolio Manager, Senior Portfolio Manager, Head of Implementation Services (Australia & New Zealand), and ultimately Global Head of Investment Operations.
I stay busy helping clients with their financial planning needs, helping my wife raise our son and daughter, working on my own self-imposed construction projects around the house, cooking, hiking, running, and getting out on the water whenever I can.
Why start NW Straits?
I was motivated to start NW Straits for a few different reasons. Through NW Straits I can impact lives for the better. And, unfortunately the initial motivation was born out of a deep frustration. Frustration at the fees I saw for the financial advice and lack of relevant financial planning that my friends and family were receiving. Frustration when I looked at the broader industry and tried to reconcile my deeply held beliefs that there is a real need for practical, affordable, fee only financial advice and planning for those that can benefit the most.
What is some random Adam trivia?
I have lived in two foreign countries.
Germany for around 4 years; 6 months as an exchange student in high school; 3-ish years stationed there while in the Army; and 3 months as a graduate student intern.
Australia for 2 years while working for Russell Investments.
I sailed from Trinidad and Tobago across the top of South America to the Panama Canal.
I still own the first car I ever purchased back in 1997 (it’s a 1971 Karmann Ghia).
I am an Eagle Scout.
What is your most useful skill outside of financial planning?
Building things. I have remodeled kitchens and bathrooms, re-wired and re-plumbed most of my own projects, built a deck and new front entryway. I have even built a two-story garage from the ground up (my dad helped me frame it). The only thing I didn’t personally do was the concrete slab, the roof and painting.
What are a couple of interesting fun facts about yourself?
In high school, my best friend and I participated in the Second Annual SPAM carving contest in downtown Seattle. We carved SPAM-uel Noriega (the former military dictator of Panama). Not sure why we chose that, I guess because it was topical at the time…
When we lived in Australia I was interviewed live on a national morning news show. What I was there to talk about was not what the producer thought I was there to talk about. This was discovered about ten minutes before we went live. The producer basically told me to wing it and that the news anchor would figure it out! I still have the clip here.
(In general, I don’t talk about myself a lot, so if you made it this far you know more about me than most!)