Kidney, no, Knee Replacements
Mar 2, 2021 21:51:52 #
In this dream, there were three of us in the back seat. I am not sure but think there are at least two others in the front of the vehicle. I have no idea where we are going, but we are going somewhere and at the same time having a lively conversation. It is not clear where we are going, in fact that is never known.
It is obvious that all of us have had careers as brokers and financial advisors, and all have recently either retired or have been terminated. After a lot of discussion, it appears that all in the group have recently had major surgeries, either a transplant, or one or both knees being replaced and must endure lengthy physical therapy. I had just had my second knee joint being replaced with a titanium joint.
We are curious as to why, or what the company’s motives were for kicking us out. Our employment wasn’t hinged upon being able to run a 100-yard dash, or anything that required an athlete’s stamina. Even those who had a kidney transplant were not so handicapped they could not fulfill their role as a broker when they were released from the hospital.
It appeared to have to do with the corporate profit. If the corporation could consolidate the number of brokers, a lower head count with the same revenue would simply mean the corporation would be more profitable. It became clear to me that even though my partner purchased my book, she would be handsomely compensated, and so would the corporation.
It was simple arithmetic that trimming the head count. The surest and simplest method was for those who were of an age to have either a kidney transplant or knee replacement to be put out to pasture.
In my personal case, all about a couple weeks before Christmas, my partner and I had been at lunch with a client. Upon leaving, I was limping due to the pain in my right knee. I had already had the left knee replaced and understood what this meant. With my age being in my middle
70’s and bone rubbing against bone, I was virtually crippled and knew surgery was the only recourse.
While this was something in the best interest of the corporation, it was not something that anyone in this car agreed they wanted or had agree it was best. Not one of us had wanted to be put out to pasture, regardless of age. We had all made close friends with the others in the office where we worked, and with our clients, with whom we had long and close relationships. After retirement we were not to continue our relationships with any of the former clients nor discuss their portfolios, since we were no longer licensed.
As a warning to all you readers, you had better make plans for your retirement. Whether you are with a major corporation, or not, age and circumstances may creep upon you more quickly than expected. You should also be reading the “tea leaves” of what the company has and is doing with other older workers. If they are suddenly being shoveled out the door against their will, it may also happen to you! You may be, as I was, a profitable performer but that doesn’t necessarily mean you are a keeper. It may very well be your office could be easily consolidated and your function fulfilled by a younger employee. I’m sure not a broker in my office would have turned down my assets or revenue I had been generating.
Now you don’t have to listen, nor plan. But a hint to the wise, things change and you and easily be replaced and time marches on. Just Sayin…RJS
It is obvious that all of us have had careers as brokers and financial advisors, and all have recently either retired or have been terminated. After a lot of discussion, it appears that all in the group have recently had major surgeries, either a transplant, or one or both knees being replaced and must endure lengthy physical therapy. I had just had my second knee joint being replaced with a titanium joint.
We are curious as to why, or what the company’s motives were for kicking us out. Our employment wasn’t hinged upon being able to run a 100-yard dash, or anything that required an athlete’s stamina. Even those who had a kidney transplant were not so handicapped they could not fulfill their role as a broker when they were released from the hospital.
It appeared to have to do with the corporate profit. If the corporation could consolidate the number of brokers, a lower head count with the same revenue would simply mean the corporation would be more profitable. It became clear to me that even though my partner purchased my book, she would be handsomely compensated, and so would the corporation.
It was simple arithmetic that trimming the head count. The surest and simplest method was for those who were of an age to have either a kidney transplant or knee replacement to be put out to pasture.
In my personal case, all about a couple weeks before Christmas, my partner and I had been at lunch with a client. Upon leaving, I was limping due to the pain in my right knee. I had already had the left knee replaced and understood what this meant. With my age being in my middle
70’s and bone rubbing against bone, I was virtually crippled and knew surgery was the only recourse.
While this was something in the best interest of the corporation, it was not something that anyone in this car agreed they wanted or had agree it was best. Not one of us had wanted to be put out to pasture, regardless of age. We had all made close friends with the others in the office where we worked, and with our clients, with whom we had long and close relationships. After retirement we were not to continue our relationships with any of the former clients nor discuss their portfolios, since we were no longer licensed.
As a warning to all you readers, you had better make plans for your retirement. Whether you are with a major corporation, or not, age and circumstances may creep upon you more quickly than expected. You should also be reading the “tea leaves” of what the company has and is doing with other older workers. If they are suddenly being shoveled out the door against their will, it may also happen to you! You may be, as I was, a profitable performer but that doesn’t necessarily mean you are a keeper. It may very well be your office could be easily consolidated and your function fulfilled by a younger employee. I’m sure not a broker in my office would have turned down my assets or revenue I had been generating.
Now you don’t have to listen, nor plan. But a hint to the wise, things change and you and easily be replaced and time marches on. Just Sayin…RJS
Mar 2, 2021 22:21:02 #
Mauwehu
Loc: Norwalk Ct
It’s always been attractive for corporate America to trade older heavy hitters for younger less expensive workers. Especially when the company changes hands. They used to try to avoid the pensions. I’m the sole proprietor of my own company but I can imagine what that must feel like. My wife worked in corporate America for a short time. She said everyone worked in fear of trying to blend in.
Mar 2, 2021 23:39:53 #
Mauwehu: You are fortunate in many ways, and burdernd in others. I ran seminars for several years, using several experts to highlight "how to dispose of your business" for individual owners like yourself. We would usually get a good crowd to attend, but only infrequently would anyone really consider selling.
We would not only be there but also have a CPA and Attorney who were experienced in their phase of an owner planning his disposition of his firm. Just Sayin...RJS
We would not only be there but also have a CPA and Attorney who were experienced in their phase of an owner planning his disposition of his firm. Just Sayin...RJS
Mar 3, 2021 00:29:39 #
Mauwehu
Loc: Norwalk Ct
Robert J Samples wrote:
Mauwehu: You are fortunate in many ways, and burdernd in others. I ran seminars for several years, using several experts to highlight "how to dispose of your business" for individual owners like yourself. We would usually get a good crowd to attend, but only infrequently would anyone really consider selling.
We would not only be there but also have a CPA and Attorney who were experienced in their phase of an owner planning his disposition of his firm. Just Sayin...RJS
We would not only be there but also have a CPA and Attorney who were experienced in their phase of an owner planning his disposition of his firm. Just Sayin...RJS
Burdened? Not sure if I have anything to sell. Considered hiring someone to teach them the business with the intention of “selling” them the business.
Mar 3, 2021 01:40:32 #
Mauwehu wrote:
Burdened? Not sure if I have anything to sell. Considered hiring someone to teach them the business with the intention of “selling” them the business.
Now that sounds like a plan
Mar 3, 2021 19:14:53 #
hey rj...since i know you seem to know what you're talking about, and you've been around this block a few times, what are the odds that you could talk sense into some of the people responsible for running your state.You know theres a ton of room for improvement.
Mar 3, 2021 20:52:44 #
Fishinphil: I'm sorry, I cannot respond to your comments. I have been sanctioned, warned and sent to the Attic for political comments, so will have to pass. Just Sayin....RJS
Mar 3, 2021 20:58:32 #
yeah..i've been there for a lot less...wonder what political affiliation the owner of this place is for?
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