The Impossible Choice….

And there it is. Like something out of the movies, someone who previously had no options now suddenly has to make an impossible choice.

You recall from my earlier post that I had been unemployed for the last three to four months. I had a few really good prospects on the line. Some of which didn’t pan out and the rest of which were dragging their feet. Then suddenly out of the blue things began to happen. I had two offers; two different offers from two different companies at the same time. I’m not sure but this may be unprecedented. Surely this has never happened before in the history of man!!! How lucky I was to have the flood gates of employment suddenly opened to me. However, once that euphoria wore off, there was a very serious matter that needed attending to. The matter of the CHOICE!

The two companies that were soliciting me were Edward Jones (investments: socks, bonds, ect….) and Kentucky Farm Bureau (insurance: car, home, life, health, etc….). Both are dynamite companies. Kentucky Farm Bureau is a regional insurer operating in Kentucky only, but a part of the larger Farm Bureau family of companies. Edward Jones on the other hand is a nationally known name, though some would argue a small fish in the large pond of securities and investments. Either way, these are two great companies each offering me a great position and great future potential.

The case for and against Edward Jones

Stock Brokers make a lot of money. We’ve all seen the movies; Wall Street, Boiler Room, The Pursuit of Happiness. So you know that “stock jocks” can make a ton of money. While Edward Jones isn’t like those Wall Street sharks that you see in the movies, instead offering conservative financial solutions in more of an “advisor” role, still the opportunity for huge salaries is there especially if you hook into a few large investors. The Edward Jones job was what I refer to as a “rock star” job. It’s the kind of job where you either make it big or not at all. Like rock stars, you’re either famous or you’re nobody. This job is similar. You either do very well, or you end up quitting a few years into it. Nobody in the stock market business is eeking out a modest living. It just doesn’t work like that. So like the stocks they sell, the Edward Jones job offers huge reward, but also huge risk. The question in my mind wasn’t so much could I do it (which I really think I could have) but rather, was I willing to risk it? I mean I’ve got a wife and two kids. I’ve got bills. I’ve got needs. I can’t be twisting in the wind on a maybe. I need a sure thing. That said, I love stock market stuff and would have enjoyed the crap out the work. It would have been tough starting from scratch; they expect you to build your client base from nothing by knocking on doors. Who does that anymore? But once I got going I would have really had a good time being involved in the markets.

The case for and against Kentucky Farm Bureau

I have been in the insurance world for the last 15 years. So it makes a lot of sense to stay with something I know. Kentucky Farm Bureau is a well-respected name in the private insurance market. People all around here, when they think of insurance, think about Farm Bureau first. It’s where your dad, and likely his dad before him, had their insurance. It’s a huge part of the community and people around here know and respect the name. Also, insurance is a different animal than investments. While everyone needs to invest very few actually do it. With insurance, most people are required to buy insurance of some kind; car insurance, home insurance, and now health insurance, etc… However, insurance is lower dollar stuff than investing. If someone came in and invested $50,000 at Edward Jones, how many $500 car insurance policies do I have to sell to make the same money? You see the dilemma. With Farm Bureau the clients will come to me because they have to, instead of me chasing them.  Even still, the potential earning power of the average insurance agent is far less than the average stock broker, but the insurance agent is more likely to be in business three years from now regardless of the economic climate. That’s what Kentucky Farm Bureau represented; less attractive but far more reliable and secure prospects.

So there’s the choice. I felt a little like I was at the casino in Vegas. Do I let it all ride and throw the dice hoping to win big with Edward Jones? Or do I play the safe bet and just win a little, without risking much, at Farm Bureau?

What to do? Who to choose?

I didn’t realize at first how much the decision would weigh on me. It seems like it might be an easy choice for you as I’ve laid out the options. You might very well say, “Well it’s obvious what you should do.” But I didn’t feel like it was obvious. I tossed and turned with this decision for two weeks. In my heart I really wanted to be the big shot stock broker, but I was unwilling to risk the welfare of my family to get it. At the same time I didn’t want to take the insurance job and then set there for the next however many years and feel like I missed out on something, or lament that I let my one big chance pass me by.

My wife and I prayed for God to give us the wisdom to make the right choice. But it was not easy. I even told Edward Jones I couldn’t work for them once and they came back and offered me more money!!! They really wanted me and I really wanted them. Edward Jones was the sexier job, the rock star job, all I ever wanted in a job. However, I kept getting this terrible feeling that I was being selfish; that I was jeopardizing my family for my own vanity. We asked God to show us what to do and the next day I talked to two professionals who both advised me the same way. These disinterested third parties had no agenda, and weren’t trying to move me one way or another. They just offered me sound logical advice. I think God was showing me the sign that I had asked for.

So in the end I chose Kentucky Farm Bureau. True, it’s the less exciting, less sexy job, but it’s the one that guarantees that my family will be provided for. Ultimately that’s worth more to me than all the money in the universe. And who knows, after some number of years when the kids are grown and we’re more financially stable,…. I just may go back and try that stock broker job anyway. After all, I’m still a young guy and plan to work till I’m 120!!!! So I’ve got time for another career change down the road.