Sanford Krilov, CLU®, ChFC®, CRC®, RSSA®

When I was growing up the only spending money that I had was what I earned either by mowing neighbors’ lawns, shining my families’ shoes, selling airplane models or used comic books in my Dad’s store. We never took vacations as he couldn’t leave his shop, even for a weekend get-away. Both of my parents were born in the Great Depression. My Mom encouraged me to save by helping me open a homestead savings account with my annual birthday moneys from a favorite Aunt. It was fascinating to me that the homesteads paid more interest than the banks. Quickly I learned the value of saving money and the importance of proper insurance, as a hurricane ripped thru New Orleans and destroyed my Dad’s furniture business. In order for him to rebuild, he had to ask my high school-educated Mom to go to work and asked me for my entire savings so he could attempt to rebuild. Realizing that his ability to save was unreliable, and college was my goal, I worked summers in maintenance during the week and selling shoes on the weekends and holidays in order to pay for my college.

Seeing that my bank account was not going to provide the returns, I searched for alternatives to bank savings. I carefully researched stocks at the library (there was no internet!). Armed with my fresh knowledge, I then caught a Public Service bus routed to downtown New Orleans and opened my first brokerage account as a teenager. I had some instant success and some defeats.

The cloth from what I was cut impacted my financial tapestry. I learned what it means to have a safety cushion, the value of insurance, how it feels to lose hard-earned money in the market and the joy of family vacations. Little did I know at that time, that this would be the groundwork of not only my personal adult life with its uncertainty and disasters, but how to guide my clients thru their perils.

The financial roads I have traveled will serve you as a directional path to help you create your own financial plan.