Adam Klein sits down at a Delray Beach Starbucks with a leather portfolio in his hands and a look of determination in his eyes. The last time I saw Klein, we were graduating from Spanish River High School in 1998. Now here we are, 11 years later, in the middle of the worst recession since the Great Depression.
But much like the ray of light gleaming off his Florida State University national championship football team ring (he played offensive guard in 1999-2000), Klein insists the worst thing we could do is freak out and ignore the hidden opportunities that lie in the current economic climate.
"I never thought I would love what I do. When I got out of college, I worked in sports media," Klein says. "I also never thought I'd work in financial planning at such a challenging time, but we haven't lost one client."
Klein works for Peters, Klein and Associates, a financial advisory practice of Ameriprise Financial Services Inc. He serves more than 250 clients ranging from 18 to 89.
"I got into this business in 2007 because I wanted to work with people and show them the importance of financial planning," says Klein, 29. "We educate and empower our clients. We advise them by giving them options on choosing the right insurance or setting up the right estate plan. But they need to fully understand why they're doing it."
Specializing in saving for education, insurance and retirement and planning strategies, Klein says we all need to ditch this stereotype that the world is going to hell in a hand basket or, in my case, a Prada bag.
"For three straight years in this country, people spent more than they saved. Saving is the sexiest thing you can do right now," Klein says. "Someone in their 20s should have a long-term plan in place. If you don't set goals, how will you ever get there? Talk is cheap."
Klein and his partner, Alex Peters, draw out plans for their customers on paper so they can visualize how much time and savings it's going to take to get to where they want to be.
"People need to be proactive," Klein stresses. "When you wait for things to happen, they probably won't."
Klein says at least 10 percent of your paycheck should be going into savings each month. "Change is everyone's biggest fear," Klein says. "It's not death or public speaking – it's change people fear most. But without change, there's no progress."
And then he explained the stock market to me in a language I could finally understand – fashion terms.
"It's a great opportunity to get into the stock market now. We always come back stronger," Klein says. "Come in at a lower price. You wouldn't go to the mall and buy something full price when you get the exact same thing on clearance."
And at that moment, as soon as I was able to compare the stock market to the stock room at Neiman Marcus, I finally felt interested in investing in my future beyond this season's Christian Louboutins.
Ameriprise Financial is at 2650 N. Military Trail Suite 350, Boca Raton. Call 561- 997-9602 or visit Ameriprise.com.