Dad and I weren’t exactly the closest father-son pair during my formative years. It seemed like we stood at odds regarding everything about my life, from the way my hair should be cut to my choice of major in college. At times, I resented having him as a father. I suppose one could say I was just being a rebellious teenager (and later, a rebellious young adult), but when I acted out my rebellion, I actually believed that I knew better than he did. It is only in retrospect, as a 35-year-old today, that I have come to understand Dad’s wisdom and influence in my personal and financial well-being.
A civil engineer in the Philippines, Dad immigrated to New York City in the mid 1970s. He lived with his sister in Staten Island and worked as a clerk in Manhattan. Later, in 1978, the rest of the family followed. We settled in Southern California, living in the attic of a relative’s house in Glendale, California. Then around 1980, Dad and Mom bought a home in central Los Angeles. At some point in my early childhood, Dad landed a job at the City of Los Angeles, ultimately working his way up to civil engineering assistant before his retirement in 2002. In addition to his work, he served as a deacon for the church for about two decades, dedicating his evening hours and weekends to his religious duties. He and Mom bought a second house in the late 1980s in an inland suburb called Rancho Cucamonga, using it first as a rental, then later as their retirement home.
As I write this short, and woefully incomplete, summary of my father’s life in the United States, I stand in awe of what he has accomplished for himself and his family. During my undergrad years, I took out student loans to pay for tuition, but he and Mom paid for my room and board, bought me a new car after my freshman year, and even made the car loan payments and car insurance premiums. Dad didn’t have a 529 plan, IRA, or any stock/bond portfolio upon which to draw funds. He simply continued to work, save, donate to church, and keep expenses in check. Rarely did he indulge himself in extraneous things (except for the Honda Accord he suddenly bought one day many years ago… and still drives). His income now consists of a city pension and spousal Social Security, which, along with Mom’s pension and Social Security, is more than enough to meet his needs.
Through his actions, Dad taught me about the value of educating yourself, working hard, saving diligently, and giving time to a charitable cause. Anything that is financially positive in my life- a good credit score, a solid retirement portfolio, an emergency fund, a home- can be traced back to Dad’s industrious nature. It is because of him that I carry such a strong passion for personal finance. Perhaps his greatest gift to me is the ability to survive and thrive independently.
Finally, to Dad– Happy Father’s Day.
Isaias Sarmiento
© 2011
