Recently, we celebrated Father’s day, and it made me think about how important my father, Owen Olson (Ole to his friends) has been to my life. Not only to my growth as a person, a dad and a husband, but also to my career as an advisor and retirement planner. First of all, he taught me about hard work and ethics. My dad worked at General Motors in Janesville, Wisconsin for a total of 38 years. Over his career at General Motors, he spent almost 20 years working on the line installing tires on cars. He then moved up to the “easier” job of driving a forklift for 18 years. During this time, he never complained about leaving for work at 3:30 a.m. or about lifting tires for eight to 10 hours a day; he did what he needed to do to support and care for his family. When General Motors was struggling and hours were cut, he would take jobs repairing cars, building garages or helping friends. Retirement did not stop him. He continues to repair small engines, and is well known in Beloit as the guy that can fix anything.

Secondly, he taught me responsibility and ethics. My dad has the theory that if you cannot pay for it, you do not buy it. Maybe the country would not be in the mess we are in if more people had that attitude? He also taught me to do what you say you are going to do, as that is what makes successful people different.

How does this correlate to investments and retirement planning? It gave me the foundation to understand the day-to-day sacrifices clients make to accumulate for their retirement. Therefore, when someone entrusts me with the responsibility of helping him or her accomplish his or her financial goals, it is a great honor that I do not take lightly.

So what is an “Owen Investor”? I learned early on in working with clients and through discussions with my parents, that not all people can handle the potential loss and fluctuations seen in the markets. My parents are not risk takers, as illustrated by their occasional trips with friends to play the slot machines. After an afternoon at the casino, I asked them if they had won any money. They said they lost $10 and did not know why they bother even playing. To quote them, “we started with $20 and that grew to $40, but we only left with $30, so we lost $10.” In my mind they had won $10, but from their perspective they could have left when they had $40, so they ultimately lost $10. I realized then the parallel between my parents and many investors who do not like experiencing fluctuations in the markets.

Risk adverse investors usually like to invest in lower risk investments such as certificate of deposits, fixed annuities or equity indexed annuities, treasury bills, bonds and notes and municipal bonds. Over the long run, I believe these risk adverse investors would have been better off if they would have diversified and invested in some market related investments, but they are the type of people that cannot handle fluctuation. Some investors adhere to the following Mark Twain quote, “I am more concerned with the return of my money than the return on my money.” You have to decide if you are a conservative investor, a market risk investor or a combination of both.

Dad, happy belated Father’s Day and thanks for the lessons you have taught me!

Brad Olson is a Financial Advisor and registered representative who offers securities and investment advisory services through Walnut Street Securities, Inc. Member FINRA/SIPC. The branch address is 2312 N GRANDVIEW BLVD SUITE 210 WAUKESHA, WI 53188.