The Guys in the Cafeteria

My first job was as an engineer at an oil refinery. In an industrial part of town, the only source of sustenance for morning coffee break and lunch was the company cafeteria.

Long tables, aging linoleum, meatloaf on Fridays.

I mean, we couldn’t talk about the food, so sports, family and social activities were the center of most of our conversations. While I certainly chatted up the other young engineers, I also learned a lot from those who were approaching retirement.

Contrary to the stereotypes of boring engineers, they were lively and interesting: Don Smith, Bill Holmes, Lew Mote. At a time where gym memberships were nascent and “The Complete Book of Running” was a recent national bestseller, Jerry Cline was cycling “centuries” at age 60.

They also had an extremely keen understanding of company benefits, the stock market and the power of compounded financial growth. Though their world of pensions and retiree medical coverage would not extend to my generation, they were very helpful in explaining the stock market, company matching contributions…and this emerging concept called a 401k.

With remote work and frequent job changes, this company cafeteria mentorship has largely faded away. If you have parents that invested and budgeted (and explained it to you), you are lucky. If your friend from college has a job selling whole life insurance and invites you to a free lunch seminar, you have my sympathies.

With my advice-only planning approach, I can provide information that is educational, actionable and sets up a better future. It fills the gap that has been created by the loss of this informal workplace mentorship.

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Dave Pedersen is an Advice Only Financial Planner. Based in Hermosa Beach California, he shepherds clients (typically age 40+) through “The Complicated Years”, where they have overlapping goals and need insight from a trained professional. Compensated only for his time and work (and not commissions or management fees), Dave provides true independent insight. Interested? Reach out to discuss further.