My Who
I’ve come to appreciate that saying, “We’re known by the company we keep.” I glad to be in the company of Tackle Trading and Elite Legacy Education folks and look forward to continued growth as a trader, investor and life-long learner.
— Beth Salamanca —
My fear of economic insecurity led me to seek solutions for managing my Nest Egg. I was also entrusted with my spouse’s and parents’ portfolios and I wanted to be a good steward of their assets. Goal is to make all our golden years golden. Who could help guide my investments?
For my entire working career, I followed the standard suggestion of investing as much I could in a 401(k). For federal employees, this is the Thrift Savings Plan. I contributed to get the max matching funds and socked it all in the C Fund that mirrors the S&P500. By retirement, I had a sizable nest egg.
After retirement, I shopped around to see where I’d place my IRA. First was the great company that we were put in touch with during our 1-month retirement seminar — offered by the US State Department to smooth our transition to “civilian” life. This company was great! They even offered me a job!! But I had to relocate from the DC area to Philly to take care of my aging mom. So I did nothing. In PA, I checked out Fisher Investments and was visited by an account manager. Knowledgeable, interesting and intense, he explained their custom-tailored plans. They even focused on my interest in strategic materials (one of my focus areas at The Eisenhower School.) Fisher is perfect for a hands-off type investor. This was not me. My fears cause me to want to be actively engaged in the process.
Somewhere along the line, I reread Rich Dad Poor Dad. I saw the immediate parallels to my own family except it was: Rich Dad, Poor Mom.
My “Rich Dad’s” investment style was heavily invested in stocks, real estate, bonds, preferred stocks. As a Navy aviator and Pan American/United pilot, he and his pilot buddies did quite a bit of stock picking and active investing. As a kid, I read his piles of Fortune magazines and saw the physical silver stored in the safe deposit box. They started restaurants, small businesses and kept their eyes peeled for opportunities. After his retirement, my dad turned his portfolio over to Morgan Stanley to be managed. When dad’s longtime broker retired too, I went to meet his replacement. I asked the new guy what the plan was for the next recession. He said, “we’ll do what we always do.” “What’s that?” I asked. He answered with a shrug. This was not the best answer in my view. I suspected he didn’t want to give away trade secrets. My “Rich Dad” had participated quite a bit in the investment world but paid someone to do it for him. A totally hands-off approach. My “Poor Mom’s” investments were in the bank. As a depression baby, she was anti-stock market so had most of her money in cash and bonds. Like many women, she depended on her spouse for income — until they got divorced. She went back to work a US Marine. Had to get an age waiver and re-entered the workforce as the USMC’s oldest Lance Corporal. She got some stock holdings in the divorce. And banked her USMC earnings. The cash was invested in laddered CDs. The bonds were EE Savings Bonds that she systematically bought with her military paycheck. The stocks she got were defensive stocks — utilities and aerospace. She also got a real estate investment that generates steady income. Her portfolio was hands-off and never actively managed. Like Kiyosaki’s “Poor Dad,” my mom worked hard, saved hard, and led a frugal lifestyle. Not bad for an “Old School, Poor Dad” type.
Because I liked Kiyosaki’s book, I decided to attend a Rich Dad Poor Dad event. You know, the free one that introduces us to real estate and financial markets. This introductory course made so much sense that I signed up for the basic Financial Markets live trading at Philly Airport. Enter Tim Justice: Engaging. Energetic. Honest. Tim’s live basic trading class was fascinating. It whet my appetite and introduced me to the enormous possibilities. I was so amped by what I learned in this 3-day class, I signed up for an Elite Legacy Platinum package including 3 courses and mentorship. Best investment I ever made!
My first course was Master Trader. They encouraged us to take the On-Demand course before the Live On-Line. Enter Noah Davidson. Here I learned the SUCCESS model and so much more! I’ve watch Noah’s Master Trader video series a number of times as it is foundational to my understanding of the markets. Aka, Coach D at Tackle Trading, I relate to Noah’s “PermaBear” bias. Am now working to get more time listening time to Mr. PermaBear!
Back to Tim who, in late 2016, next became my Live On-Line Master Trader instructor. Energizing and relating well to everyone are hallmarks of Tim’s participatory teaching style. He is trustworthy, hardworking, incredibly patient and demonstrates humility. I was thrilled when he agreed to be my mentor! Tim suggested I put six months between my Master Trader class and my mentorship, so I continued my Legacy course work.
Next, enter Tyler Craig: Options instructor, Chartered Market Technician (CMT), and gifted writer. I am NOT a natural when it comes to heavy (or even light) technical topics, like “the Greeks,” but Tyler made them understandable and fun. I also got him as Options II instructor, who amplified my options trading knowledge by leaps and bounds. His Tales of a Technician, Cash Flow Condors and Bear Market Survival Guide have contributed enormously to my options trading and to my peace of mind!
In March 2017, I traveled to Salt Lake City for my 3-day mentorship with Tim. What a great experience! Even though I had three live classes under my belt, I still had (and have!) so much to learn. Tim sent me back to the drawing board. Made me retake all my classes and hit the Elite Legacy Labs. This was the best thing for me and I truly benefitted. Tim also reinforced my daily routine and reassured me he’d be available whenever needed. His reassurance meant the world to me, especially for a person who has fear as a key motivator.
I said my goodbyes to Tim and headed for my flight home. Ironically, who did I meet in the TSA line standing right next to me? Matt Justice! Wow. Another gift from the Higher Powers. Matt took me to the Delta Sky Lounge where we chatted a bit. He told me about his experience working for Robert Kiyosaki. Also gave some history about forming Tackle Trading and their goal of “Under-promising and over-delivering.” I note these words still ring true today. So I signed up as a Tackle Trader and have been benefitting from their products ever since.
Since those foundational years in 2016–2017, I’ve come to rely on the people in the Elite Legacy and Tackle Trading communities. I’m continuing to meet and get to know great Elite Legacy instructors like Keith King (aka Coach Keith at Tackle), Jeff Crystal, Micah Brooks, Donna & Sam Miller — to name a few. Now I’m getting to know the Tackle Trading coaches like Gino Poore, Cody Maki, another Justice brother — Mark, Emily Muiruri, Grant Larson, and fellow students and traders.
I’ve come to appreciate that saying, “We’re known by the company we keep.” I glad to be in the company of Tackle Trading and Elite Legacy Education folks and look forward to continued growth as a trader, investor and life-long learner.
Beth Salamanca,
Trader. Investor. Life Long Learner.
Beth Salamanca is a retired Senior Foreign Service Officer and US Marine. She’s traveled to 77 countries and uses this experience to support her investing. She trades stocks, options, futures and commodities. Under Tim Justice’s mentorship, Beth was inducted to Elite Legacy Education’s prestigious Hall of Fame in 2018.
Originally published at tackletrading.com on March 1, 2019.
