Time and money, how do you make it all work for your family? Jane Landsberger, Financial Advisor with over 20 years experience and mother of a son with severe challenges, shares her experience and expertise. Contact her at Jane.Landsberger@wealthwave.com or visit her website.
Emmalou Penrod
Welcome to our series on How Money Works. And today I get to talk to Jane Landsberger, who is a financial advisor. And she has a really interesting backstory. So I want to start with that. Jane, can you tell us how you became a financial advisor?
Jane Landsberger
Well, thank you, Emmalou. And it’s my pleasure to have this opportunity to get to visit with some of your audience. Thank you for asking me to share some of my story with you. How I began, I need to give a little bit of background, too, I feel like and that is that I was employed. And I had gotten my degree, thought I was going to be going into more of a corporate type environment. And my husband and I got a phone call one morning from his daughter, who was 16. And she had a child and he was 10 months old at that point in time. And she could no longer keep him and asked if she could bring him to us. So we woke up one morning, we got a phone call. And by that evening, she had flown out with her 10 month old child who was absolutely adorable. But she did not want to stay. And so she chose to go back home, which was several states away. And we then, of course, kept Lance and we then adopted him when he was about two.
Emmalou Penrod
So, sudden family.
Jane Landsberger
Sudden family. Yes, not. Sometimes it’s like, do I answer the phone anymore? You know, so,
Emmalou Penrod
You didn’t even get nine months to prepare.
Jane Landsberger
That’s exactly what I said. Oftentimes, most people have nine months. And we, I don’t know if we had nine hours. And fortunately, of course, the neighbor across the street had had twin little boys and she brought over all kinds of things. And we had baby showers and you know all those things. But all of a sudden, we have an infant, precious little boy. And he seemed fine. And then somewhere around the way before he got to be two, we did have some major problems that were developing. We did adopt him at two legally. And so he is my son. And actually the biological grandson of now ex husband. Lance was diagnosed on the autistic spectrum, with a form of autism along with a number of other diagnoses, so when Lance was six, then my ex husband and I divorced. So I was a single mom now with a disabled developmentally delayed child. And it’s a challenge. It’s a blessing to always have a child and it’s a blessing to have a special needs child. But trying to get the right diagnosis, trying to find some help trying to figure that thing out is very hard. And then you’re working full time. And I didn’t receive Child Support either for a while. So, you know, I know very much what it’s like to be a single parent, trying to make it all work with your children. Whether it’s one or more. It’s a challenge.
Emmalou Penrod
Being the breadwinner, bringing in the income and being the caregiver just, yeah,
Jane Landsberger
Very, very much so.
Emmalou Penrod
Trying to juggle it all.
Jane Landsberger
Yeah, so it was a real juggle. But I was very blessed. And I was able to speak with a friend of mine who had referred me to a gentleman who has been in financial services. And I’ve always had an interest there. And, but rarely can you be able to work in that industry part time. And I was at a point where I couldn’t leave my current position, because I had to have that security, and then build my business on the side. So there were several things that I knew I needed. One was to, of course, take care of our immediate needs. Two is to plan for, you know, our own retirement. And then when you have a special needs child, you have to plan for their future because typically they’re going to outlive you. So the things that you normally do for a typical family is just the opposite for a family with a special needs child. So you know, essentially you’re building two buckets of retirement, so to speak. And so I knew I needed the opportunity to be flexible. Because as Lance got older and behaviors got worse, it was very difficult to find any kind of childcare. Even after school, there were even times at school, I had to come and get him. And so you know, when you’re in a position that you need to be there, and it’s not something you can pick up during the evening, that makes it very hard. So when I found this opportunity to be able to help people, which has always been, I guess, on the forefront of my heart is to be able to help other people in some way. And to also be able to help other special needs families walk through some of the journey that I was either had or was continuing to walk through. I wanted to be able to, for me, that made sense for me to be able to help other people in some way.
Emmalou Penrod
So you were able to combine your desire to help others, especially families with a child with special needs and that flexibility you needed in your employment.
Jane Landsberger
Exactly, because many of the kiddos will have a lot of therapies they need to go to. There’s normally more doctor’s appointments. Lance did have seizures. We did years of different therapies, different things that were non traditional type treatments, which are also very costly as well as they’re time consuming. So you have to have a schedule that you can make on your own, and also be able to make good money. And I didn’t want to be in a position that I didn’t get paid for what I was worth. And, you know, I had the opportunity to make a good income. And so when I found this opportunity, I was very, very thrilled. I get to work with a wonderful team of people who are very positive. And you know, it certainly has worked out. I transitioned from working a full time job along with part time, and then to being completely in the financial service industry. And now we concentrate a lot on education. We’ve always done education. But now we have some even better tools to be able to educate families. And I feel that the clients that I’ve worked with, that if I can educate them on some of the concepts, give them some different options to meet whatever their goals are, then they can choose what is best for them. So I feel like it’s more of a consultant type position to work with people.
Emmalou Penrod
Giving them the information they need to make the decisions that are right for their family.
Jane Landsberger
Exactly. You know, when we work with families, we usually are looking at what are your goals? Where, you know, where do you want to be? And not only in for your retirement, but also where do you want to live? For your children, I mean, all those things. It’s a very comprehensive program that we put together for families. And I feel so fortunate to have been into the business for a while. And I’ve worked with a number of families, and now those people are retiring and those people are getting to do the things that they have been working forward to those goals. And when they thanked me for oh my goodness, I’m so grateful that we did this at this time. And, you know, we went through the time in the 80s and 90s, when the market dropped 50%. And we were able to lock in some of those, and they didn’t suffer that or maybe their parents. And then you know, of course we always utilize life insurance. And when there is a loss and you’re able to bring them a check. It makes a world of difference. And even before my life with Lance, my first husband, at 31, developed leukemia, and he passed away after seven weeks, and we were very young. So to be a widow at 30 and 31 was, you know, just very unusual for me. It’s something you think, oh, that’s gonna happen to someone else. But the fact that we did have some insurance in place, just I mean, it’s invaluable. I don’t know how else to say it. I don’t know how I would have made it had we not had some. And if I’d known then what I know now, we would have had more, but I was able to make it through that time. So it’s also something that is on my heart and I want to make sure that people at least have the opportunity to make the decision for what they want for themselves.
Emmalou Penrod
So how long have you been a financial advisor?
Jane Landsberger
Nearly 20 years
Emmalou Penrod
So you’ve seen a lot of changes in the financial scenario. And, and I love that you mentioned, you’re seeing the results of that. People are saying, “You know, I’m glad I made this change.” You know, a lot of times, I think young families feel like, my immediate needs are so pressing, how can I possibly think about planning for the future? And yet, for those families that did, they ended up being very grateful.
Jane Landsberger
Yes, and usually, we’re able to find some ways to come up with some money without even taking it out of their budget. And so we can, we have some different techniques that we can be very creative and work with families along those lines, because, you know, we work with people from all walks of life. Sometimes we have to get out of some debt, even to free up some money, to be able to do some things. But most of the time, if we can work with people, and find a way to save $7 a day, and break it down on a daily basis, so if the husband and wife come up with $3.50. I mean, right now, I don’t think you can buy Happy Meals for much less than $7. And so if we can cut out one little thing, you know. It may be a latte. It may be, you know, it may be something simple, that we can both put together $7 a day. Well, seven times 30 is $210. So, you know, if you tell someone, we need to save $200 a month, they’re like, “No way!” But if we break it down to where $7 a day, or $10 a day, or can your husband save $3.50 and you save $3.50? Then you’re like, “Well, yeah!” You know, just different things that can be simple ways to come up with it that we just don’t think about, but you can. Almost everyone that I’ve ever met, there are some ways to come up with a little bit of money. And if you do it consistently over time, it’s going to compound. And then now, we’ve got some great educational tools with the book that we have available. We have education classes, that you can learn the best basic concepts for finances. And when we know those things, and we learn those things, it’s much easier then to apply it on to, you know, our situations.
Emmalou Penrod
So the book you’re talking about is How Money Works. So you you started in this industry before the book was published. How would you say the book has changed things for you as a financial advisor?
Jane Landsberger
Oh, the book is just phenomenal! We taught those concepts to our clients. But now it’s in a book that is so easy to read. And like I tell a lot of people, it’s got a lot of pictures and you know, it’s fun. It’s fun to read. It’s not some boring book that’s going to put you to sleep. It’s a short little book that you can get. You can buy it on Amazon, or, if you attend our classes, there are classes on each segment of it, and it breaks down the different. We call them elements or steps along the way, as to how do we put a plan together for every family. And basically, whether you’re single, you’re married, you’re a business, it doesn’t matter. They all go through some of the same steps to get to where you want to be. And many times, you know, you have to work on one step to get to the next step. Or we may have things in place, but we know where we’re going. You know, most people spend more time planning a vacation, then they do their future. And so, you know, and a lot of times it’s just easier to, “Oh, we’ll think about it later.” or that type of thing. But once you’re able to do that, and you have those things in place, it’s such a burden off your shoulders. That you know, we’re doing we know and a lot of people will ask them, “What is your FIN number?” And that’s your financial independence number. So if someone tells me they want to retire at 50, or they want to retire at 60 fine, tell me what kind of money you need to retire on at that age, and where you are now. And I continue if you’re on target or how much money you need to save to get there. But retirement is not a number and it’s not automatic that when you get 65, “Oh, I’m going to retire.” No. It’s when you have enough money to be able to live off of, to meet whatever your financial goals are. Some people, not me, but some people can live off $30,000 a year. Some people want $250,000 a year. There’s not a right or wrong number, of course. But it’s just what is your goal, and at what point, and then we can help you find the best way that has the best tax treatments, that can do the best for compounding. The most important thing we could ever teach any of our clients and kids is the rule of 72. And what that is, if you will take the percentage you’re making on your money, divided into 72, it tells us how many years it takes for your money to double. So if you’re making 10% on your money, divided is 7.2. And you know that money is then gonna double every 7.2 years. And you know, same thing, it works for you when you’re making money, it works against you whenever you are paying interest.
Emmalou Penrod
I’ve heard the quote that, “Those who understand interest, earn it. Those who don’t, pay it.”
Jane Landsberger
Very wise. Yes. Yes, I should know who actually said that, because that is one of the quotes that we use often. But the book and the classes have just really changed the industry for clients who want to know that information. Technology is so much different. I still love meeting with my clients one on one. Zoom, though, is a real help. So we can visit with people anywhere and but you know, I’ve become such good friends with nearly every one of my clients. And so it’s more like working with your family, and being able to help those people and knowing what’s going on because we meet with them regularly. So we know when there’s a baby born or somebody gets married, or there’s a loss in the family, and just like you would other good friends. And so I just love, I love people. I love getting to know them. I love being able to help them. And I am so grateful for this opportunity to be able to work with people. And also for me to be able to meet my personal goals of being able to plan for my son’s future, so that he has the funds to live a good life, even when I’m no longer here to be with him.
Emmalou Penrod
Yes, and it’s true money does not buy happiness, but it gives you options. You have choices, when you have money.
Jane Landsberger
That is very, very true and good people with money, good things. And yes, that, you know, we just do the whole, we work with people in the whole gamut and whatever their needs are. And, you know, I just feel honored to be able for someone to trust me to be able to work with them to meet their financial goals. And the whole organization that we work with through Wealthwave is just a fun, they’re just an awesome group of people. And they’re so willing to help each of us, as well as all of our clients. And so if someone is looking for more information, please let me know, or Emmalou let them get in touch with you.
Emmalou Penrod
And that’s what we were getting to. How do people contact you to find out about those classes or getting the book?
Jane Landsberger
Well there, I will give you my phone number as well as my email address. And my phone number is area code 972-523-1177. And my email address is Jane.Landsberger@wealthwave.com.
Emmalou Penrod
All right, and we’ll have those links in the show notes as well. So, Jane, thank you that’s a lot of good information and I can tell by your voice, you are very sincere and genuine about this. You really do you care about families.
Jane Landsberger
Well thank you so much, Emmalou. I truly do. And I feel like this is my way of giving back to people because so many people have influenced me in my life at different times. And I just love to be able to help other people. And it makes some sense if there are some things that I can learn if I could then turn around and help other people with that. It gives me a real sense of gratification.
Emmalou Penrod
Yes, I’m sure does. Well, Jane, thank you and you have a great day.
Jane Landsberger
Well, thank you so much and you do the same.