One of the many great things about being an IBEW electrician
in Los Angeles was the collectively bargained wages and benefits. Even as a
young apprentice living in an old but very nice apartment on Beverly Drive just
a block south of the Beverly Hills’s southern border of Olympic Boulevard, I
always felt like I had more than a little discretionary money.
Like a lot of young people I didn’t always make the best use
of it. I probably ate out a bit more than I should have. There was a classic
old restaurant in West Hollywood called Chasen’s that was a staple for
Hollywood’s elite back in the day. It was a favorite of folks like Frank
Sinatra, Ronald Reagan and Dean Martin and I remember what a big deal it was
when my parents decided to go there. My Depression era and WWII vet father was
also a union electrician, and best I can remember, we only went to Chasen’s on
three occasions when I was a kid. Once when my parents paid off their 30-year
mortgage (it was approximately $130.00 a month), once when I completed the IBEW
electrical apprenticeship (a proud day for my old man), and one last time when
my wife and I got engaged (probably an even prouder day).
I was just a punk apprentice but my fiancée (now wife) and I
must have gone there 5 five times on our own before I even hit 25. We went
often enough that we even knew you could order the chili, which wasn’t even on
the menu. I remember walking out one night just as Barbara Eden was coming in.
There were always a couple of photographers out front and we had to cover our
eyes from the flashes as we exited the door. That place was really something.
I’m guessing I was probably making about $12.00 an hour at the time, but man…I
was living (or at least dinning) like I was making a millionaire.
My old man asked me one time how much I was saving each
month…but the mere fact that he inquired made me more determined to show him I
knew better by saving nothing. I remember telling him I had no extra money to
save, and he followed up by asking how much I was spending a week eating out? I
told him I didn’t know…but that it wasn’t enough to make a difference. I distinctly
recall him saying “why don’t you set aside $50.00 a month?” “$50.00 a month” I
responded… “that’s like $600.00 a year. What difference
will that make in my life?” “It won’t in a year” he shot back… “but in 10 years
in will be $6,000…and that’s just the principal. Factor in the interest and it
will be a lot more.” But…because it was coming from my dad I mostly ignored
him. I even remember saying something like “that’s the problem with you
dad…you’re stuck in the Depression. You’re always saving for a rainy day…and
the truth is…there aren’t going to be anymore rainy days.”
Thankfully I was fortunate enough to work with some seasoned
old journeymen that were not my dad. Many of them were a lot like him though,
and because they didn’t raise me I was more inclined to listen to them when
they passed along nuggets of wisdom. I remember buying a brand new pickup truck
as an apprentice. My journeyman at the time was a cat named Johnny (he was a
great golfer too by the way). He’d worked up in Alaska when they built the
pipeline, and unlike many of his peers, he saved the boatload of dough he’d
made up there and came back to Southern California and bought a couple of
income properties. He didn’t criticize me for getting the new rig…as a matter
fact, he was pretty enthusiastic about the purchase. But…I do remember him
saying this. “No…you’ve bought a new sled and you did the smart thing by paying
cash. Now…don’t do what all your peers do. Make that car a good buy by taking
care of it and keeping it for 10 years.” I kept it for about 13 years I
think…and though I’m in a stronger position now…I haven’t purchased a new
vehicle since. I’m just too cheap.
Perhaps even more thankfully, I was blessed to be part of a
union that negotiated a collective bargaining agreement that more-or-less
ensured a stable future. Sure, I had a duty to get up and go to work every day,
but if I did, a percentage of my paycheck would be deposited in both a defined
contribution and defined benefit pension that I really couldn’t touch. In a
way, I was sort of forced to do what my father so wisely advocated…and they
made it pretty hard for even me to screw up. Then, additional savings vehicles
came a long, and though I could have done much, much better, my dad’s words
finally resonated and I’ve tried feebly to put something aside in case the
clouds ever did form in the west.
Sure, I’ve
pissed away way too much bread on fancy meals. Heck, if I saved all the money I’ve
blown on wine alone I’m guessing I could have a second home and maybe even a
couple of Cadillacs. Problem is I’d also have to be sober too much of the time,
and I just can’t deal with the stresses of work and life without the wonderful
soothing benefits of Cabernet. To be honest I’m not sure there’s a god…but one
of the best forms of evidence for me is the existence of grapes. That had to be
part of a grand plan.
What’s
the point of all this? Don’t faint here but unlike most Fridays…there might be
one today. A ton of time and poor writing is devoted here most weeks of the year
singing the praises of spending time with the people that matter. Being
financially stable in your advancing years won’t make you happy…but it will
provide you greater flexibility in doing the things and spending time with the
people that will. So…today’s message is really pretty simple. If you at all
possibly can, take some of your discretionary money each week and do the smart
thing and drink some wine (or whatever you enjoy that makes you smile). If at
all possible…save a little too. Dad was right…it will make some difference over
the long haul…and you really won’t be sorry.
Have a
great weekend. And please...take a few minutes to start the day with some music.
No comments:
Post a Comment