Page 26 - September 2020 Issue.indd

DOLLARS AND SENSE by Tolbert Rowe

“I Wish There Were More Leroy’s”

It is hard to believe that my father passed the future. He lived for today but made Many of these people reflect Lesson
away 10 years ago. A life long old school sure to leave something for later in life. number 3 from Leroy which is, “Th ose
conservative Republican at a time when Everything he did in his career and that got it don’t always show it.” This
there were eight Democrats for every in his financial life built upon a solid means that some of the wealthiest people
one Republican in Caroline County, foundation of living within your means live very frugal lifestyles and don’t own
Dad would be shocked at what his and saving for the future. the biggest house, the nicest car or
Republican Party has morphed into. I most expensive clothes. Sam Walton of
Lesson from Leroy number 1 is “the

find the following, written 10 years ago Walmart comes to mind. And some of
only way to get ahead in the world is
more than appropriate in today’s crazy the people who seem to have everything
to work hard”. Nobody is going to give
world. I wish there were more Leroy’s. really don’t. Dad made it clear that if you
you a future; you have to work for it. He
feel you need to have the nicest “stuff ”
In memory of my father, G. Leroy Rowe, made all of us kids work as soon as we
to feel important, your priorities are
who died on September 25, 2010, I am were able and for me that was picking
out of whack. Dad knew the fi nancial
dedicating this article in honor of him. tomatoes and cantaloupes when I was 12
status of many, many people. He knew
For those who did not know him, he was years old. I learned very quickly that the
who possessed the “symbols” of fi nancial
a banker, an entrepreneur who started more I picked the more money I made,
success and who could actually aff ord
an insurance agency and owned several making it easy for me to understand the
those “symbols”. He also knew who had
small businesses, a pilot, and a person value of producing something, even if it
a lot of “things” making them appear
who truly enjoyed people. He was the was only a basket of tomatoes.
wealthy and important. But in reality,
epitome of a “people person”.
Lesson number 2 from Leroy is “keep they were struggling with debt to try to

In reflecting upon the lessons I learned your debts to a minimum,” when you “keep up with Jones.”
from him during my lifetime and the do incur a debt, pay it as quickly as
For those of you who knew Dad,
meaning they have to me, I feel that by you can. Every dollar spent repaying a
don’t worry, he never divulged who
sharing some of them with others it will debt today is a dollar taken away from
these people were. He only used this
help me in dealing with our families loss. savings for tomorrow. Borrowing for
knowledge to deflect a whiny son who

I will call them “Lessons from Leroy”. large purchases like a home or a car is
complained that so and so had a mini
acceptable but you should pay it off as
My parents started their married bike and I didn’t, or so and so had a
quickly as you can. It is hard to save
lives together in 1956 with very little fancy car and we didn’t. Needless to say,
for the future when you have large debt
financial resources, and for Dad the I never had a mini bike and we never
payments to make in the present. Too
banker, prudent management of their had a fancy car.
many people become obsessed with
finances was the foundation he built
“keeping up with the Jones” and have a Dad never spent more on something
his family’s life upon. Everything Dad
lot of “things” to show for the monthly just to have a certain “label” or because
did in his professional career and in
payments they are making. it was “popular”. He did not understand
his life revolved around preparing for
how people could pay a premium for
a product just because it had a certain
logo when something of similar quality
“Your Mortgage Consultant Since 1985”
would provide equal quality for a lower
Purchase or Refinance price. For him every dollar that he
saved on a product was a dollar saved.
Everyone that knew him knew that he
was tight with a dollar.
He was not into trying to impress people,
which is Lesson from Leroy number 4.
115 E Dover St. Ste 3 - Easton, MD “The only person you need to impress is

tolbert@baycapitalmortgage.com C. Tolbert Rowe, yourself.” And the only way to truly do
www.baycapitalmortgage.com NMLS Vice President/Lending that is always do your best. God knows I
182844
was not always the perfect son but I can
410-819-3005 / cell 410-310-3520 honestly say that for every predicament
26