The Best Financial Advice I’ve Ever Gotten

Late in 2024, my financial advisor, Jay Dixon, gave me some of the best financial advice I have ever received. It was not a private equity play. It was not about asset allocation. It was not about taking advantage of some unique market conditions.

Jay and I met for our annual review.  At the time, my middle son Cole, was knocking out general electives at a two-year college and considering what direction he wanted to take in his academic pursuits. My boy is a true creative and a grinder when he wants something.  His dream is to be an illustrator, a world-builder, and a storyteller.  We considered options for this track of study, and the schools with the best programs were all pricey art schools. It’s a lot of money and not what one would consider a “practical career path.” I can dream with the best of them, but I also have a lot of the pragmatic, Protestant, middle-class ethic ingrained in me, and I struggled with whether this was the right course.

I shared this dilemma with Jay. “Is this a good investment?” “What kind of ROI will we get on an illustration degree?” “Shouldn’t we pick a more pragmatic path?” Jay listened, gave me a smile, and said without reservation, “Send your son to the expensive art school; you will never regret that.” That answer washed over me like a wave of cold water—shock, a reset, and relief.

It’s particularly important for young men to strike out on their adventure, to pursue the life they believe God is calling them to—the summum bonum. This is an ancient call. The helicopter parent in me wants to spare him the potential pain associated with dreaming big, to keep him from going totally broke like I did, and to push him toward the practical, safe path. I also know what the money we are spending now on art school could be in 30 years invested at a 10% interest rate. But my boy doesn’t want my money when I’m dead; he needs to know now that his parents believe in him and want him to dream big and steward his gifts to the fullest.

He ended up getting a large chunk of his tuition paid through scholarships, but a BFA from Auburn would still be significantly cheaper. I’m blessed that we are in a financial position to cover that gap. Yet, the practical, Protestant part of me chafes at—gives me a guilt trip over—the extra expense. That part of me is no fun.

As I gave my son a long hug goodbye this week and we left him at school 10 hours away, he whispered in my ear, “Thank you for sending me to art school, Dad.” That heartfelt thank you is all the ROI I need! Since when is the practical path necessarily the right path? I was reminded of the way my parents supported me going to Berklee as a music performance major. Much of why I am in the financial position to pay for the “over-priced” art school is that I, too, am a dreamer who was willing to throw everything I had at a big dream.  Indeed, an unorthodox path in life can be a great advantage in the long run and it is certainly more interesting than the conventional.  

As Aimee and I watched him walk into his dorm with that last crate of supplies, I was hit by a warm wave this time and thought to myself, “How could I ever have considered not sending him here?”