Fire Tower Watchman

I recently read a newspaper article about a man whose career spanned three-and-a-half decades. It was something that he loved doing and even spent long hours fulfilling his duties. What struck me wasn’t his job (a fire tower watchman), or even the fact that he was often snow bound for long periods during winter months. It was his take-life-as-it-comes attitude and dedication to his job.

After reading this article, I began to think about the fire tower watchman and how we at Parsec Financial try to provide security to our clients. One of the obvious ways we help to provide financial security is through our investment management process. Our Investment Committee regularly reviews the investments we buy and hold for all of our clients and cycles through each of them 3-to-4 times each year. There are other ways we help our clients too.

Financial security also comes in the form of a review of insurance needs. While we typically steer away from permanent life insurance policies, we feel that term life is a good layer of protection for families with a mortgage, young children, or other financial commitments that could drain a net worth in the event of a premature death. We normally recommend carrying enough insurance that would pay off mortgages and put children through college.

Another important policy to hold is a personal disability insurance policy; such policies provide income, usually income tax-free, during a time when it’s needed the most. For the same reasons that one should have a life insurance policy, the disability policy can protect individuals and families by helping them pay for mortgages, utilities, medical bills, and maintain a certain standard of living.

I know that we’re not heroic firemen or the vigilant watchman that I read about. But as I think about the services we provide and genuine nature of helping our clients with their investment portfolio and also helping them understand how to protect their net worth, I wonder what the employees of Parsec would say about our careers after 3½ decades of work. My feeling is that each of us will look back over our careers and have a sense of pride, knowing that we acted in our clients’ best interests and helped to provide a layer of financial security like the fire tower watchman did for the mountain ranges he served.

Neal Nolan, CFP(R)
Financial Advisor

Share this: