What’s the most valuable thing in your life? Is it money? Is it time? Perhaps your health, your family? For Ron Speaker, he sees the value in it all. While money is life-changing, the lessons learned through mentorship are priceless and keeping the wonder and mystery of life alive is a joy money can’t buy. Starting in the mail room of Janus Capital in the mid-1980s and rising up through the ranks to become a trained investment analyst and successful money manager taught Ron a lot about the financial world. However, it was traveling the country and the world learning about the characteristics of good businesses, meeting some of the world’s most iconic business owners along the way, and taking in the wisdom and perspective of impressionable mentors that instilled in him a wealth of experience he refuses to gatekeep.
Now, after enjoying a successful 21-year career at Janus and running his own business, Equus Private Wealth, for 15 years, Ron is paying it forward, mentoring others on financial literacy, likely imparting more than just financial knowledge along the way. He’s truly living his best Scorpio life as the youngest 60-year-old around. From parenting two preteen twin boys with his wife to focusing on his physical and mental fitness, Ron is motivated, thinking, and living like a 30-year-old. Career-wise, he’s pivoted and adapted. Mentorship-wise, he’s engaging with the youth and instilling teachings that only come with years of experience. And life-wise, well, he’s continuing to expand his worldview all while having creative, mischievous fun along the way.
How old are you?
I am a 60 year-young Scorpio.
Are you into astrology? Do you feel you “fit” the Scorpio description?
Yes, and I live next door to a wonderfully intuitive astrologist who provides delightful insights when we walk around the neighborhood. On our travels, I have also visited with astrologists worldwide. I’m wearing a new red ruby wrist band suggested by a fantastic Indian astrologist I met in Udaipur last year.
What does being a “young 60” mean to you?
Young sixty is a mindset that embraces the chapter of life I’m in, but I’m motivated like I’m 30 to pursue new passions and projects now that I have more available time. After grinding in wealth management for 38 years, I enjoy having more time for family, fitness, friends, and fun.
Where are you from and where are you currently based?
I was born in Savannah, Georgia, and currently reside in Carbondale, Colorado.
Are you married? Kids?
Yes, I have been married for 22 years, and we are late parents with 12-year-old twin boys who keep us thinking young.
How do the people in your life (friends, family, etc.) inspire your initiatives?
I have been blessed to be around many inspiring people, from my career mentors and talented friends. I started my first project, Aspen Women’s Wealth, in honor of my wife and female clientele. For me, I wanted to encourage them to control their own money, make their own decisions, and learn by getting into the game. Since then, my wife has become a great investor in the markets by following her own intuition. Most women don’t give themselves enough credit for what they already know about the economy, products, and companies.
The Finance Camp was created to formalize what I constantly teach my young sons about the markets and share that information with others in a very personal, one-on-one intensive summer camp using real money, no fake competitions. My latest venture, Youth Entrepreneurial Zone, is an effort to help teens learn how to make their own money so they can contribute earned income into Roth IRAs, the ultimate retirement account. It is the link to The Finance Camp, which is better suited for 14-year-olds and older.
If you could use one word to describe the trajectory of your career, what would it be and why?
Lucky-timing. I started in the mail room of a small but fast-growing mutual fund, in the mid 1980s, named Janus Capital. The mutual fund business was beginning its long bull run as interest rates were declining and the technology boom was beginning with the creation of the public internet.
What prompted you to leave your 21-year-career at Janus and start your own business, Equus Private Wealth?
The mutual fund business was about serving a large number of shareholders under a shared investment objective. I also had the opportunity to manage a few private accounts at a young age for wealthy clients and then the founder’s personal wealth after his liquidity events. The personal nature of private accounts suited my personality better and allowed me to provide the risk profiles they desired rather than trying to beat a specific benchmark index.
Out of all the world’s iconic business owners whom you’ve met, who surprised you the most and why?
Meeting Jeff Bezos when I was in my early 20s was a highlight, both for his optimism, intelligence, and unique laugh. Of all the people I met on investment road shows, he was the most relaxed and enjoyable. At the time, he was only selling books online; it taught me to never underestimate someone.
In your opinion, what are some of the greatest wealth-creation tools that most people overlook?
Despite all the great stocks I’ve seen over my years in the market, I would say “time” is the greatest wealth-creation tool. Most people don’t appreciate the power of compounding over long periods. Over 50 years, you can compound your money by 74 times with average market returns. Surprisingly, adding in just another four years and it’s 105 times your money. When you start saving early, it doesn’t take nearly as much contributed capital to produce an enjoyable retirement.
What are some suggestions for people in midlife around wealth creation?
Take advantage of all available tax advantage accounts, such as 401Ks and Roth IRAs. Learn how to budget and save using apps, such as Monarch Money, and make sure you are in the game of investing. One great stock investment can change your life, so open an account where you can pick a few stocks that you know the company and products. The biggest companies that became the most successful stocks didn’t get that way without you, the customer. Consumer related stocks (such as Apple, Netflix, Microsoft, Walmart, Amazon) that most people supported have far outperformed the general market. Invest in what you know!
You do a lot of work with the youth, specifically helping instill financial literacy skills in teens. What led you to start those educational programs?
I had previously started initiatives such as Aspen Women’s Wealth and Senior Finance to help women in our valley and my parent’s friends. After a few years, I noticed that most people don’t make major investing mindset changes in midlife and beyond. With our youth, I am able to help them establish early investing habits, and they seem to have more passion for taking risks. Also, if I can get to them early enough—in what I call the “Golden Zone”—they will have 50 years of compounding ahead of their retirement. Showing them that it only takes $100 a month over 50 years to become a millionaire usually gets their attention.
For you, what’s the most valuable aspect of mentoring youth on financial literacy and why?
Learning money skills early can change anyone’s life, and it’s not taught enough in schools. Teens love knowing they can control their financial lives at a young age and work toward a life of financial freedom using the power of compounding over long periods. There is a Trojan horse hidden behind my initiatives for teens: mentoring. It’s my way of returning the life-changing mentoring I received from incredibly intelligent, kind, and worldly people. The people I met along my way opened my life to new possibilities and pushed me to challenge my limited view of myself based on my early conditioning.
What was your early financial education like as a kid?
I was raised in a very fiscally conservative family of savers who grew up during the Great Depression years. They were disciplined with money but also had major fears of taking any risk. I didn’t learn about equity investing until my college years when I started as an intern in the mail room at Janus.
You’ve been blessed to have some pretty wonderful mentors and father figures in your life. What are three of the greatest lessons they taught you?
In the investing world, learning how to think for myself and look at the world through the lens of opportunity were the best lessons. From another mentor, who encouraged me to travel the world, I learned just how fortunate we are to live in America and have the freedoms that so many others only dream about.
If you could only give one piece of business advice to a youngster, what would it be?
Incredible opportunities and people are waiting to meet you in life, but you must step through the door to meet them. Be social: Show up to events and introduce yourself. Good manners will serve you well along your journey along with personal thank-you notes. There is a lot of power in the pen versus an email.
What’s one goal you hope to accomplish in the next five years that you’re excited about?
I would like to reach 1,000 teens through my two youth programs (The Finance Camp and Youth Entrepreneurial Zone). I look forward to hearing from them in five to 10 years to see what great things have happened. Several of my prior students have had some challenging circumstances, and I can’t wait to see them rise above and find their own joy.
How do you prioritize your health and stay vibrant?
I prioritize my fitness with daily exercise in our home CrossFit-style gym designed by my wife, Lisa. It was our best investment during the pandemic. I do a variety of movements, some of which I call CrossFit Silver for my age group. It’s also a quiet place to start the day with a morning meditation.
I have also invested a great deal of time and resources into my mental health over the years. I was lucky to work with several magnificent therapists and coaches. They challenged me to look deeper, ask myself the hard questions, and find my courage to do something about it. Personally, I hope everyone can find the inspiring wisdom they need to bring more joy into life. Mental fitness should be encouraged with no stigmas.
What do you do for fun?
Creative mischief is the most fun thing for me. Creating mystery and doing things people don’t expect from me brings the most joy and excitement. I have a set of fancy stationery that is only my middle initial, “V.” I have sent notes to friends complimenting them on specific activities, but I never tell them who they are from. One night, we were at a friend’s house, and the note was on the refrigerator. I inquired about the note, and they lit up as they could not figure out who it was from. The delight I felt inside me was palatable. I have some mischievous friends and great stories.
What are your favorite travel spots? Any bucket list destinations on your list?
My family and I have traveled extensively since I pivoted in my work. We want to show our boys the world while they are available. That is, before their own lives get too busy with friends. More countries in South East Asia are on our list but spending more time in fewer spots is my preferred way to visit. We have covered too much ground on trips in the past.
What music are you listening to these days?
Music motivates my workouts, so Eminem, Dua Lipa, Snoop Dog, and Pharell are go-tos. For contemplation, I’m enjoying Celeste and Eva Cassidy.
What are your three life nonnegotiables?
Exercise, lunch with friends, and alone time to work out new ideas.
Editor’s Note: Some answers may have been condensed and edited for clarity.
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The ideas expressed here are solely the opinions of the author and are not researched or verified by AGEIST LLC, or anyone associated with AGEIST LLC. This material should not be construed as medical advice or recommendation, it is for informational use only. We encourage all readers to discuss with your qualified practitioners the relevance of the application of any of these ideas to your life. The recommendations contained herein are not intended to diagnose, treat, cure or prevent any disease. You should always consult your physician or other qualified health provider before starting any new treatment or stopping any treatment that has been prescribed for you by your physician or other qualified health provider. Please call your doctor or 911 immediately if you think you may have a medical or psychiatric emergency.
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