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DOUG LINDSEY, CFP®
Q&A with Doug
Describe a time when it was challenging for you to be a fiduciary.
Fiduciary is a fancy word that simply means we must legally do what is right for our client, not what is best for our business or just what is easiest for me. A few years ago, in December, I was helping a local small business start a retirement plan. Turns out one of their employees had a criminal record which caused problems getting his paperwork approved at our custodian, Fidelity. I called the employee to discuss the situation and he asked me not to bring this up with his employer. I felt stuck. If I don’t tell the owner, I’ve left her at risk. But if I do tell the owner, she might terminate the employee. Merry Christmas, you’re fired. As a fiduciary, my duty was clear but still uncomfortable. I considered my options, took a deep breath, and phoned the owner. Turns out she already knew about the employee’s criminal past. She generously stated, “my employee has paid his debt, I’m giving him a chance to move forward.”
Describe your pro-bono or community work.
I enjoy teaching, simplifying complicated ideas, sharing information, being on stage. I love seeing people laugh and learn. I’ve been teaching at our local continuing education program for many years. I give classes on Social Security and Medicare. Almost everyone will eventually use these complicated government programs, but most don’t understand how they work. I wanted to fix that. More recently, I’ve been teaching a beginner’s investment class at a local non-profit, Saranam. Their mission is to empower families to end homelessness. They provide an innovative, transitional living program which includes a home, an education, and intensive case management. I am proud of the students in this program and teaching them gives me that warm, fuzzy, satisfied feeling like nothing else can.
Describe a situation where you’ve changed your mind about something important.
I used to hate insurance. I despised the idea of insurance, the cost, the complexity. I hated interacting with the state bureaucracy, the continuing education, the insurance companies, and the mind-numbing paperwork. I’ve changed my mind. Many reasons. My mentor, Jim, patiently, repeatedly describing how a certain feature worked and why he thought this was a good choice for the client. My other mentor, Mary, exclaiming “Will you look at the leverage on this life policy?!” Thoughtful, intelligent insurance agents explaining why they thought a particular policy was a good idea. And a retirement income professor named Wade Pfau. Wade says there are two types of advisors. The insurance guy who thinks every client problem can be solved with a new policy. And the investment lady who thinks stocks and bonds are the only solution. Turns out both have their place. Wade’s open-minded research encouraged me to create our Retirement Pyramid, a unique framework for making decisions about what is most important to a retiree. And now I’m giving due consideration to both insurance and investments, which work together to make our clients unbreakable.
What do you like to do for fun?
I love board games. The pieces. The rules. The strategy. The laughter. The time together with friends and family. Finding a way to win! At last count, we had more than 100 games. I enjoy teaching new players how to play, although my son says I’m bad at it. Probably because my mind has already drifted to “How Will I Crush You?” Current favorites include Splendor, Terraforming Mars, Everdell and Agricola. My kids hate Agricola. The only time I get to play it is on my birthday when I force them. Let me know if you’d like to play? I also cherish reading. I’ve been in a book club for 20+ years. I read everything: fiction, non-fiction, graphic novels (yes, comic books, but no superheroes!). My favorites tend to be science fiction or fantasy and “how-to” business books. I’ve mostly made the switch to reading on my kindle. But when Amazon wants to charge me $5 more for the e-book, then I order up a physical copy and cram it onto my overflowing shelves. I also like vinyl, ice cream, mountain biking, dark chocolate, dark beers, and dark starry nights around a campfire. And, of course, anything with my family. Thirty+ years with my wife Cindy. Four wonderful kids. Amazing daughter-in-law and three perfect grandkids. Ask me, I’ll tell you.
Doug moved to Albuquerque from Illinois after he married his wife, Cindy, in 1991. They have four awesome children – Nic, Sam, Ben, and Ellie – and one lovely daughter-in-law named Lindsey. Nic married his childhood sweetheart, Lindsey, and her name is now Lindsey Lindsey, yes really. Lindsey is expecting Doug’s first grandchild mid-2014.
The three younger kids still live at home where they keep their full-time mom young and busy. Sam is in high school at the Academy, loves reading, computers, and his dog, Loco; Ben is also at the Academy and loves architecture, swords, and video games, especially Minecraft; Ellie is at Double Eagle and loves art, soccer, and ice cream and recently came in 2nd place at the Albuquerque city-wide “Battle of the Books.”
Doug loves running and mountain biking in the foothills and belongs to a book club where he enjoys reading everything from post-apocalypse fiction to philosophy, science, and humor. He was an avid water skier in his youth and wishes Albuquerque had more lakes. He enjoys pop-up trailer camping in the mountains with Cindy and the kids, playing cards and strategy games, dark chocolate, and dark beer. He is learning to play the electric guitar (mid-life crisis). Doug is a certified referee for his daughter’s AYSO challenge soccer team and claims to understand the offside
Doug Lindsey is a Certified Financial Planner™ professional and has been with MGM since 2008. Doug has a Bachelor’s Degree in Computer Science and is one of the four advisors at MGM to have the CFP® certification. Doug loves helping clients align their money with their personal goals and specializes in retirement income planning and social security issues. He has the heart of a teacher and is currently teaching Social Security classes at the Osher Lifelong Learning Institute at UNM Continuing Education.