I learned about investing from textbooks, but when it came time to teach my kids, I took a different tack.
Now kids aren’t normally drawn to the concept of investing (saving is hard enough), and so after the requisite (and largely futile) attempts to explain stocks and bonds and mutual funds, I took a page from Peter Lynch, who led Fidelity’s storied Magellan Fund throughout the 1980s. Lynch’s articulated philosophy (simplistically stated) was to invest in companies you know.
Now, my kids were not going to delve into company financials and balance sheets, mission statements and corporate leadership, or even long-term economic trends. Instead, I tried to open the doors to such things by modest investments in companies my kids patronized as consumers. And then, as these companies’ fortunes evolved over time,[i] I found opportunities to talk about the “whys.” It turned out to be a “fun” (it was my money, not theirs, after all) way to approach a complicated topic.
This notion of investing in a business with which you’re familiar still resonates with me, and in this COVID-19 constricted world, all the more so.
A Critical ‘Investment’
We’re coming up to the revised dates (September 9-11) for the NAPA 401(k) Summit—now dubbed the NAPA 401(k) Cyber Summit, as we’ll be conducting this year’s event in a digital environment. Though it’s become commonplace to refer to these type event platforms as “virtual,” this one won’t be that. You see, “virtual” to me indicates something that is “not real,” and I can promise you that this year’s Summit is going to be very real, certainly in terms of topics, speakers, content, and your ability to hear and learn from the most important voices in our industry.
That said, some things haven’t changed, despite the pandemic. This year, as in years past, the steering committee, conference team and NAPA leadership have been hard at work for months, developing the program, fleshing out the agenda, lining up speakers, and assigned session “owners” to make sure that you get maximum bang for your buck in terms of information and session quality.
That’s no mean feat in a year like this one, where the events on the ground—SECURE, CARES, Labor Department proposals on ESG, lifetime income disclosures and a new fiduciary rule—have created a fast-moving target in terms of content—not to mention the intense planning—and re-planning—that needed to be done as we considered event alternatives. Despite all that, we’ve lined up an innovative platform worthy of this information, and while the networking events can’t be the same, we’re offering you access to all the sessions and speakers at an incredible price.
What’s (Really) Different
Yes, without question 2020 has certainly been a year of sudden, drastic, and unanticipated change—and it’s not over yet. With all that’s been going on—this year, more than most, you really can’t afford to be without the kinds of insights and information that have long been a mainstay of this nation’s retirement plan advisor convention!
But there’s a more important reason—and it goes with the notion of investing in something you know. Among all the things that really set the NAPA 401(k) Summit apart—one thing stands out, this year more than most. Quite simply, it is that—and unlike every other advisor conference out there—your NAPA 401(k) Summit registration helps support the activities of NAPA—your advocacy, information and education organization—not the bottom line of some corporate media organization or some private equity firm. Yes, it’s an investment in yourself and your practice. But in addition to that—and to the insights, and information that you might be able to scrap together from some other events, your attendance at the NAPA 401(k) Summit is a unique investment in your future—and the future of your profession.
It is, quite simply, a great way—perhaps the best way—to not only put your money where your mouth is—but where your mind is.
It’s not too late to sign up—and even if you can’t make all the sessions, you’ll have access to the recordings!
It’s all online at https://napasummit.org. Join us.
[i]For those who may be interested, those modest investments—which I still maintain—were Starbucks, Game Stop, Hot Topic, and—for my wife—Novartis (they make Excedrin).
