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HR
West
®
How HR Helped Me Retire Early
By Jesse Blount, III
M
ost people live very busy lives
combining family, professional, and
personal obligations. To make the best
use of their time at work, productive employees
focus on their primary job functions. Prior to,
and immediately after work, family obligations
kick in. If there is time for personal “stuff,” most
people do not enjoy spending time reading the
latest information regarding Estate Planning and
Trusts, Modern Portfolio Management, Women
and Investing, LBGT Investment Strategies, or
Comprehensive Financial Planning.
By providing Financial Literacy Seminars which
are usually held on a lunch and learn basis,
employers allow their employees an opportunity
to learn about extremely important aspects
of financial management. Ask yourself these
questions, “How many of your employees know
the difference between a will and a trust?” “How
many employees know what probate is and how
to avoid it?” “How many employees have their
personal asset allocation strategy consistent with
the way their money is actually invested?”
The gate keeper that allows or prevents employees
from receiving the critical financial literacy is most
often the Human Resource Manager. In some
cases, HR managers embrace financial literacy as
a benefit to their employees. Through education,
employees can learn the benefit of a living trust
and perhaps save themselves or a loved one
from going through probate. In so doing, the HR
manager did the employee, and their company a
huge service.
On a different level, HR Managers can allow
employees the opportunity to learn asset
management strategies for retirement and non-
retirement assets. On a non-sales basis, financial
literacy provides a huge benefit to the parent
company by giving the staff an opportunity to
maximize the returns on 401K and other employee
sponsored savings programs. A well-informed
employee can actually retire earlier than an
employee with no financial plan at all.
There are of course HR managers who are
exclusively concerned with legal and compliance.
Those are the HR managers who fear the speaker
will ultimately try to “sell” instead of “educate”
their staff. That being the case, no education
is provided to the employees with perhaps one
exception. Typically the only person allowed to
speak with the staff in this case is the “401K”
person who can only speak about the company
retirement plan and nothing more.
The critical components to financial literacy
working are as follows. There must be a
motivating, competent speaker who under zero
circumstances will try to sell anything to anyone
at any time during the presentation. Next, there
has to be a captive audience and typically a free
lunch is the best way to get people to sit down
for an hour and learn. Finally, the parent company
must see the education as a benefit to both the
employees and to the company itself.
Employees who can retire early often work longer
because they enjoy their jobs. People know the
company is interested in more than productivity
when they allow for an estate planning lunch so
employees can address what faces each and every
person employed at some time in their lives. By
providing an objective financial advisor to answer
questions at no cost to the employee or firm,
employees feel they are not being “sold”, but rather
helped by their employer.
By implementing the strategies they learn, HR
managers can actually help their employees retire
early. And who doesn’t want that?
HR
Jesse joined Dean Witter in
December, 1985 as a Financial
Advisor after having earned a
Bachelor of Science Degree with a
minor in Economics from San Jose
State University. He has continued
to enjoy a long and successful
career with the same firm, now
Morgan Stanley, and his experience and success has advanced
his status at the Company to Senior Vice President Wealth
Advisor. As a fully registered investment professional for
more than 27 years (Series 7 & 66) and a licensed insurance
professional, Jesse is firmly committed to growing long term
relationships and striving to deliver exceptional client service.
Financial Wellness
