FEATURE — The first time I remember feeling myself falling in love with Launa was when she sat down at the piano and sang a song she had written for me. Launa’s talent for music goes beyond just singing, writing or playing it; music is the very nature of what she is. It fills her soul and when she hears it or sings it, its beauty radiates from every ounce of her body.
For 13 years, Launa directed the Southern Utah Dixie Children’s Choir, and many regular concert attendees would comment that they loved watching Launa direct as much as they loved listening to the kids sing. When she shared her talent, it became a gift to all in attendance.
We have a few children who have a similar gift for art. With some brushes and a little paint, they can turn the walls of a home into a magical experience. Their children’s bedrooms are a sight to behold, not just from the pure artistic talent but the imagination from which the images come. All of our children are blessed with unique and amazing gifts that are more than mere education, though they have added plenty of that, but the creative and natural foundations of their talents were born in them.
I cannot paint, and my singing voice is wisely reserved for the choir, but one day, while moving some boxes, I came across something interesting. I found an old financial ledger that I had kept as a young boy for the various businesses I created. I sold lemonade, candy bars, soda pop at ball games and even repaired old movie reels for a local company.
I nostalgically turned the pages and noted the careful entries of credits and debits, with itemized expenses and savings deposits clearly spelled out. Each page even had a column for the anticipated profit margin. Since my youth I have been fascinated by, and had a natural knack for, the uses and workings of money. As a financial advisor, I find that once I get to know the investor, choosing the specific investments and creating the plan seem to come quite naturally.
Some of the people I work with have a natural gift for managing money. Others struggle their entire lives making poor financial decisions, never really figuring the whole money thing out. I’m always fascinated to find people with great talents in several areas yet find basic financial concepts difficult to internalize. I suppose this is why I was taught in business school that every new business needs three minds to succeed: an entrepreneur, a certified public accountant and an attorney. Being brilliant in one area often does not transfer to the others.
Research from Claremont College in California into the money management habits of individuals has shed some amazing light on the subject. The researchers tracked the financial habits of over 15,000 sets of twins and found that identical twins, raised apart, exhibit the same financial characteristics. They determined that even education and social environment were overridden by genetics when it came to how they handled their finances.
As investors attempt to navigate the challenges of building a financial nest egg, they might want to do a little self-evaluation first. Most people know whether they can paint or not. We all know if we are singers or just listeners. But how do you feel about your natural gift for managing money? Do you have the genetic talent, or would your finances be better served by sitting in the audience while you let someone else produce the masterpiece?
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