PEOPLE 401K – A Long Term Investment Plan For a Wealth of Relationships

It’s called “People 401K”

No need to google this. It’s not an actual financial device. Instead, it is a way to think about creating, building and growing critical business relationships in a clear process just like you can build your long term financial wealth and security.

I’m a planner. Always have been. Save for that rainy day. If I got any “birthday money” from grandparents, mom & dad, aunts/uncles who may not have had the time to get the nifty sweater; I’d immediately stash it in my higher secure hiding place in the recesses of my sock drawer.

It was always there.

Not for youthful spending on desired youthful extravagances.

No this buried treasure was constantly at the ready for inevitable financial meltdown case that only a 11 year old can dream up. Through subsequent holiday and birthday cash collections, I could reinvest and imagine how my doomsday nestegg would continue to grow.

This youngster was not blindsided by today’s fleeting needs, but, instead, laser focused on conquering tomorrow’s challenges.

OK…OK…I was a strange kid.

But this teenage aberrant behavior became the accepted norm the moment I received my college diploma and started my first job. At that point, my parents informed me that I was now an adult and the time had come to abandon my childish focus on today’s trivial needs and think about my future, and more importantly, my family’s financial security.
I was never quite sure who, exactly, they were talking about, but I still respectfully feigned interest by nodding my head when I felt my eyes starting to close.

“No time to wait, you need to set up and contribute to a long term financial plan.”
With absolutely no idea what I was doing, I met with the trusted family investment dude and set up a 401K, or whatever it was, and began dutifully contributing pieces of my newly acquired paycheck to this account. I was clueless and single, so the added cost of this expenditure, bundled with rent, utilities, insurance, food, and the other disbursements that established my official adulthood, didn’t bother me. Afterall, I was a natural saver, so this fit right into my core competency.

Fast forward a few decades, and I really am a big person with “littler” people relying on me, and my wife (the real adult), and, I have to admit that I’m really happy I took that saving, investing in the long term thing seriously.
I’m not sure if I’ve reached the feeling of “secure” yet, but I am very satisfied with the people relationships I have built, invested in, and grown as I move through middle age.
You thought I was going to share my secrets to achieving financial security, didn’t you?

Well, I have something even better—a way to grow the business relationships throughout your life.

It’s called the “People 401K”

No need to google this. It’s not an actual financial device. Instead, it is a way to think about creating, building and growing critical business relationships in a clear process just like you can build your long term financial wealth and security.

 

A Blog Post by Bill Auerbach, CRN Founder, CEO, Dreamer & All Around Good Guy!

 

Leave a Reply

 
Let's Get Started Back to the Blog