Lesson In Self-Sufficiency
Diego grew up in a privileged Latin American hometown, where he lived for 40 years. His life was the stuff of envy: los empleados (the employees) handled his every need and want. If he wanted to throw a party, he merely told his personal assistant when and where. He had never been in a grocery store nor pumped his own gas. He could recite Shakespeare and Pablo Neruda, but didn’t know how to make a bed. He was an accomplished pianist, but didn’t know how to drive. He could speak six languages, but couldn’t boil water.
At age 40, Diego moved to The States, determined to be on his own. He decided to buy a house but needed coaching on how it all might work (“What’s a realtor? What’s a mortgage?!”). He had seen an interview with The Wealth Conservancy’s founder Myra Salzer in a newspaper, which led him to call. With TWC’s coaching, he picked a realtor, chose a house, and although he could pay cash, decided to get a mortgage just like “an American.” TWC coached Diego through every step in the process.
After a smooth closing, the house was Diego’s. He personally set up electricity, phone, and garbage pick-ups—each one utterly unfamiliar, but manageable with coaching. TWC even introduced Diego to the owner of the local janitorial store who showed him the difference between a mop and a broom, how to clean a toilet, and how to load a dishwasher. Diego learned about thermostats, timers, hose connections, and re-keying locks. With each new step toward self-sufficiency, he stepped toward self-acceptance.
Three weeks after moving into his new home, Diego called TWC. The garbage collectors hadn’t picked up his trash. “They told me they would pick it up Tuesday and Friday mornings and they haven’t come yet.” On a conference call including Myra Salzer of TWC, the haulers explained that they had, in fact, been there for the past three weeks but there hadn’t been any garbage set out for them. “Oh!,” said Diego, “Okay. It will be there tomorrow. Thanks.” Diego hadn’t realized that he had to put the trash out himself! He went right out and bought a trash can that day.
Sometimes managing a portfolio is the easy part of wealth. Diego’s greatest challenge was self-sufficiency; without it, his money meant nothing but dependency on others. When The Wealth Conservancy establishes a relationship with a client, no question or challenge is too small when it stands between you and your happiness. Now, after a few years in his house, Diego hires help and delegates chores he doesn’t like. Taking out the trash is not his forte. As it turns out, Diego loves to cook.