Life Lessons My Parents Taught Me

By Greg Farrall, PPC®, CWS®, CPFA®

One of the joys of parenthood is passing wisdom on to the next generation (even if kids aren’t ready to listen just yet!). Growing up, my father and I would go fly fishing together, where the lessons seemed to flow out of him like the ripples of the river. Lessons like: Have a legacy. Don’t be average, be excellent. Strive to achieve the impossible. And my favorites: Make a footprint. Make the world a better place when you leave it. Find your passion. If you are passionate about something, it won’t feel like work. 

My parents imparted many life lessons, but to sum them up in one simple phrase, the best lesson would be: Be different by making a difference.

A Little About Dad

Dad played football at The Ohio State University. As a short, undersized, half-blind, slow, third-string right guard, he was told by Coach Woody Hayes to concentrate on an education: “Make the most of the opportunity, son.” It was great advice and Dad never looked back. After playing for four years, graduating, and going off to medical school, he became a prominent orthopedic surgeon in a small town. He used an opportunity to commit a life to helping others: his difference was healing through medicine.  

Dad found a great wife at Ohio State; she became a nurse, and they built a life together, raising three great sons (of course I’m the best of the three, the most handsome and the middle child). Growing up, we would go out to eat as a family, I watched in amazement as we walked through the restaurant. It seemed like everyone knew my dad. He had set that child’s broken arm, he had replaced that elderly lady’s broken hip. It was almost comical at times. To me my dad was cooler than Mick Jagger. 

A Little About Mom

The year was 1977, Jimmy Carter was president, and my dad was five years into his practice. Inflation was 17%, CD rates were 13%, a good mortgage rate was 21%, and the top tier income tax was 70%. On his own as an entrepreneur, Dad just wanted to practice medicine. Business was not his forte, and he was oblivious to the fact that taxes were killing him. On the other hand, my mom knew something had to be done. She enrolled in night tax classes at local Wittenberg University to understand tax code; however, her real passion was investing. 

I grew up with the dining room table covered with stacks and piles of legal pads listed by stock: IBM, GE, Ford…this was her investment portfolio. Mom would track the daily closing prices and write them down on the legal pads almost every night. (Obviously, this was way before stocks could be filed on an app.) Brokers who called the house always asked for the doctor in the house. They never knew that Mom ran everything. Dad got a $20 allowance every Sunday and that was it for the week. One broker from Columbus, Ohio, called and asked for Mom—and she worked with him for over 20 years. She had found her difference.

And she passed this difference in finance on to all three sons. Today Mom is 83 and we still talk stocks almost every day. 

My Difference

I played college football, once had the sack record as an All Big Ten Defensive End at Indiana University, and graduated Kelley Business School with a degree in—of all things—finance. I quickly made my way to the derivative pits of the Chicago Board of Options Exchange (where I literally played football every day), and my difference turned into 13 years of great success, trading the .com boom and .com bust, devaluation of the peso, and many other stories. With partners that I trusted, my difference built a multimillion-dollar firm into something anyone would want—anyone except me.

Among the many lessons taught by my parents, I was advised not to take, but to give. With trading you just take. I was unhappy. So I sold my firm and started a new life. I stayed in finance, and rather than just taking, I began to give. I really found my difference, my passion. 

Now I am a financial concierge to a select number of affluent families. Like my dad helped people heal physically, I help others heal financially. I help them invest their money, grow their money, preserve their money, distribute their money during their lifetime, and distribute after death. I am not only helping individuals but generation after a generation. I am making the world a better place and leaving a footprint. Although I practice in a small town, we are a national firm, currently in 21 states and growing. I have three great kids and a great wife…and none of it feels like work.

A Different Approach

If this sounds like a different approach, it is. We are different. Our clients are different. If you are different or you want to be treated differently, we’d love to connect with you to discuss your financial goals and how you can make the world a better place before you leave it. 

Call our office at 219-246-2516, email greg@farrallwealth.com, or schedule a complimentary consultation online. Be sure to visit our website to learn more and connect with us on LinkedIn, Facebook, Twitter, and YouTube.

About Greg

Greg Farrall is CEO and owner of Farrall Wealth, an independent, boutique wealth management firm that is dedicated to helping women and business owners create customized financial plans that allow them to grow, protect, preserve, and distribute their wealth. Greg is known for being a problem-solver who walks his clients through whatever life throws at them. He prioritizes building long-term relationships and is passionate about going the extra mile for his clients so they can pursue their goals and live the lives they want. Greg has a bachelor’s degree in international business from the University of Wollongong in Australia and a bachelor’s degree in finance and marketing from Indiana University Bloomington. He is a Professional Plan Consultant® (PPC®) and a Certified Wealth Strategist® (CWS®) professional. And he recently received his Certified Plan Fiduciary Advisor (CPFA®) designation. You can listen to him on his financial literacy and business topic podcast, Money Matters with Greg, on iTunes, Google and Spotify. He’s also on YouTube, Twitter, and Facebook at @FarrallWealth.

Greg is a pillar of his community and served as the 2013-14 co-chair for the United Way campaign, through which he helped raise $1.8 million for 38 nonprofit organizations across Porter County, Indiana. He also served as president of the Valparaiso Rotary Club. Currently, he is on the advisory board for the Kelley School of Business and Dean of Students’ board at Indiana University. He also holds a position on the Culver Academies parents’ board. 

When he is not working, you can find Greg spending time with his family or investing in one of his many passions, which include cooking, Spartan races, fly fishing, and meditation. To learn more about Greg, connect with him on LinkedIn.

Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.