Our great grandfather was known for his sound financial advice and wisdom. At a young age, it quickly became apparent he was gifted with financial logic and reasoning. He would help his parents move money around to maximize interest returns and maintain savings. He was fascinated by the stock market and read everything he could to further his knowledge of investments and financial matters.
As a boy, he convinced his neighborhood friends to stop buying baseball cards and candy, and instead put their money to work by investing. He worked with a local candy store owner to be a small investor in the store’s expansion into the grocery market. Within one year, the thriving store had returned the invested money for a 700 percent increase. For every 50 cents invested, $350 was paid out. In today’s money, $6.45 turned into $ 4,515. While most of the neighborhood kids felt one year was too long for an investment, he gained notoriety for recognizing business opportunities and having a keen financial and business mind.
A Financial Planner Before
the Age of Financial Planning
As he grew older his friends' parents and grandparents frequently sought his financial advice and insight. As they profited from his guidance, word of his expertise grew and soon individuals from surrounding towns came to seek his advice. The role of financial planner would not be officially recognized until the late 1960s.
Troubles with Renting Your Power
When homes were finally wired up with electricity, our great grandfather knew there was no going back. Electricity became an essential commodity that was extremely difficult to live without. The price was high, but we all had to pay it or face the alternative.
From a financial perspective, the monthly payment for electricity is thrown away each month. Payments to the electric company are equivalent to renting. At the end of the month, all the benefits are gone and there is nothing left to show for the money spent on electricity.
Own Electric Company Stock
From the beginning, our great grandfather wanted to help people use their money to invest and build ownership. The amount of money spent on electricity each year is a massive waste. His solution was to purchase stock in the electric companies.
Although it was far from ideal, purchasing electric company stock was the only way to get anything back from your electric payment. This method allowed about 4.3 cents on every dollar spent on electricity to be returned in the form of dividends and stock growth.
Searching for a Better Way
Our grandfather grew up hearing his father give the same sound advice to everyone, purchase the electric company’s stock. While it was better to get a little bit of your money back, than none at all, he could not help but believe there had to be a better way. This search would eventually lead him to a new form of energy production.
Modern Day Solar Panel Invented
Our grandfather was full of excitement when Bell Labs announced a new highly efficient silicon-based solar panel. He understood the significance of smaller panels producing more electricity. Unfortunately, the price was too high for homeowners and small businesses to produce and own electricity. He would have to wait longer for the price to come down.
Affordable Solar Arrives
In the early 1960s, Sharp began mass-producing solar panels, which dropped costs down significantly. By 1965, prices had dropped enough for homeowners and businesses to afford solar. Being trained in solar installations, our grandfather started installing solar panels and never stopped.
Go Solar and Be Your Own Electric Company®
From this point on, our grandfather and great grandfather knew technology had provided a better alternative to owning electric company stock. Everyone could be their own electric company and reap the benefits of generating their own electricity.
Finally, homeowners and businesses could save 100 percent of all the electricity they produced, instead of only getting 4.3 percent back. Our great grandfather was happy to change his lifelong advice from “own electric company stocks” to “go solar and be your own power company”®.