Take Back Retirement
Episode 47
She Did It! Real Retirement Stories with Amy Andersson
Guest Name: Amy Andersson
Visit Website: priceturnercfos.com/
Today, Stephanie and Kevin are joined by Amy Andersson, the founder of Price Turner CFOs who, before starting her own business, was let go by a Fortune 100 company and was unexpectedly forced to rechart her path. She introduces her story, talking about her initial mindset towards work, which was rooted in the idea that corporate America would care for her. She shares how she transitioned into finding new work that better suited her, emphasizing the importance of recognizing the skills one has that others may not. Though getting let go ultimately served Amy as she found work that was more fulfilling for her, she explains the weight of emotion that she carried after it happened, and the factors in her life that made that time more difficult for her. For Amy, interpersonal connections served as the base her business was built upon. Realizing most of her connections were rooted in her previous job, she found she could build them in unexpected places, like the dog park.
She shares the story of how she named her company. Her initial ideas didn’t work out, and so she outsourced help, in keeping with her mantra: Do your best and outsource the rest. She briefly touches on how getting a dog helped her get back on her feet and advises all to follow suit, advice seconded by Kevin.
Amy struggled to initially recognize the value of the work she provided, explaining that it took time and an external advisor to help her understand how to properly price herself. For her, that meant not selling services, but emotion. Her clients don’t need to understand the intricacies of the service she provides them, they just need to understand how those services can make their lives better. In the same way her advisor helped her, Amy utilizes her own skills to help clients ensure they are caring for themselves in ways they might never have anticipated they needed to.
The pandemic spotlighted the necessity of Amy’s career shift, reminding her that she is fulfilled by helping others, something that doesn’t necessarily always take form in obvious ways, like nonprofit work, but can also come to fruition through her business practices. She shares the difficulties she faced when shifting her mindset after initially being let go, and how in building her own business, she’s come to further understand what she wants to work on, and what’s important for her to set herself up for after she finishes working.
She reiterates the importance of developing relationships and building your network, advising people to make an effort to connect with others so that if you hit a roadblock, you have a support system to lean into. For her, one of the groups she found this in was Hope Lodge, a place that provides patients and their caregivers lodging when seeking treatment outside their hometown.
Amy closes by emphasizing the importance of self-worth, especially for women entering male-dominated fields.
Resources:
Please listen and share with your friends who are in the same situation!
Key Topics
- Introducing Amy Andersson (0:52)
- Rethinking her original plan (2:38)
- Recognizing your abilities (7:10)
- The emotional toll (8:36)
- Building connections (11:42)
- Naming her company (12:56)
- Get a dog! (17:19)
- Pricing and understanding the value in your work (18:02)
- Motivation in work (24:08)
- Adjusting your mindset and vision (29:31)
- Building a network (36:58)
- Hope Lodge (41:48)
- The importance of self-worth (44:42)
- Reflecting on their conversation (53:01)
00:06
Stephanie McCullough: Welcome to Take Back Retirement, the show for women 50 and better facing a financial future on their own. I’m Stephanie McCullough. And along with my fellow financial planner, Kevin Gaines, we’re going to tackle the myths and mysteries of quote-unquote retirement so you can make wise decisions toward a sustainable financial future. Through conversations and interviews, you’ll get the information and motivation you need to move forward with confidence. And we’ll be sure to have some fun along the way. We’re so glad you’re here. Let’s dive in. Coming to you semi-live from the beautiful West Lakes Office Park in suburban Philadelphia. This is Stephanie McCullough and Kevin Gaines of Sofia Financial and American Financial Management Group. Say hello, Kevin.
00:50
Kevin Gaines: Hello, Kevin.
00:52
Stephanie: Today, we have my friend Amy Andersson as a guest in the next of our series of real retirement stories. And Amy’s story is a little bit different from our previous guests because she didn’t plan to retire when she did. So, Amy was an auditor in an international public accounting firm, and then quickly moved up into management positions in Fortune 100 companies. She had a big, high-responsibility job that she should tell us about that. She found satisfaction from it, but she didn’t necessarily love it. And then suddenly, involuntarily, that job ended. And she had to find her way. So, this is a story about involuntary retirements, perhaps. As you’ll hear, she founded her own company and has been through quite a few pivots about that. But she’s going to share what she’s learned along the way. And I think there’s a lot of value to it. Amy is the founder and CEO of Price Turner CFOs. Amy is a graduate of the University of Delaware and got her MBA from Rutgers University. And she lives out here in suburban Philadelphia, near us. So, let’s dive in. Amy Andersson, welcome to Take Back Retirement.
02:12
Amy Andersson: Thank you so much for having me today.
02:14
Stephanie: I’m excited to talk to you. You and I have known each other many years now, we’ve talked many times. And I’m excited to hear you share some of your story. Because when we first met, you had been involuntarily retired from your then job. Can you share with us what your original plan was for when you thought you might retire from the working world?
02:38
Amy: Well, it was at a point in my life where I wasn’t ready to be let go by a company, I figured I would be working at that company. Corporate America would take care of you, as I was brought up to believe, and it would be where I worked for the rest of my life. And I got blacked out from a major Fortune 100 company. And I was happy because I wasn’t happy in the division. I needed a kick out the door to be able to do something. So, I went to a nonprofit. And me, that was a fulfillment that, I was going to get back, etcetera. Unfortunately, that didn’t work very well, either. So that was six months, and it was one of those, Okay, I got let go twice in 12 months. That was not good. So, I looked around and said, ‘Okay, can I retire now?’ And the answer was not really because I was newly divorced. I had two kids in college and was dealing with their health issues and my health issues. I looked around and said, ‘Yeah, I could, but what would I do with myself all day also?’ So, I could use my retirement savings. But I was like, no, let me try something different. And so, I decided to start a company. Why not? And it was a company where I was going to organize and assist elderly people, again, the gratitude that I have, the altruistic viewpoint that I have, helped the older people with paying their bills and organizing their financials, and if necessary, because of my medical path, help them at their appointments. That wasn’t paying my bills. So, it was also something where the older people did not share their medical issues with strangers or even with their own families. So, that wasn’t going to work either. I had to rethink this whole process. Well, I know some bookkeeping. I mean, I’m a CPA.
05:10
Stephanie: Yeah. A non-tax preparing CPA.
05:13
Amy: Non-tax preparing CPA, and I’ve always kept my CPA current, working on things. Okay, well, I can help some businesses. And somebody I met at a dog park was my first client. One note, if you are an entrepreneur, talk to everybody. So, my first nonpaying client was at a dog park, because she mentioned she had a software system. She was trying to do things with her nonprofit. And she didn’t understand what was going on. So, we met up, and I fixed her books and let her know what she could do. And that was like, Hey, this is easy for me. So, I did that for a little bit, and then gradually got more and more clients. Again, I talked to everybody. And so, I was able to get more clients, finally paying some of my bills and such, not taking out my savings and things like that. And then I also met a business coach. And that business coach was the one who convinced me that not everybody has the brain that I do. Where, in corporate America, I was with the best and the brightest, right? In corporate America, if you don’t perform, you’re going to be left out. So, I was with everyone else who knew numbers, who knew systems. And I thought that was the way everybody worked.
06:53
Stephanie: And remind us, what was your role in corporate America?
06:57
Amy: I was director of finance for the IT department for a Fortune 100 company.
07:04
Stephanie: So, finances in numbers and spreadsheets and budgets and books and all that.
07:10
Amy: The accounting part, receivables, and payables. It’s second nature. And when I went out into the world, I realized, other people had to really under tell me that they didn’t understand numbers, and I was like, ‘Why not?’ It comes very naturally to me. And then I realized that I had an aunt who was a wonderful artist, she was with an architectural firm also. And she went to she graduated from the Philadelphia Fine Arts Academy out there. And I realized that I got none of her talents. I cannot draw a straight line with a ruler. Okay, if I cannot do that, I recognize that other people cannot do what I’m good at. And that’s one of the things that I continue to say is, do what you do best, and outsource the rest. If you do what you do best, you can get the money that you are worth. And the others, you can pay them what they are worth as well. And you’re not cheap by it, but you’re giving good service. You’re getting good service.
08:36
Stephanie: So, talk about the emotions that you were dealing with getting laid off twice within 12 months. I mean, that’s got to sting a little bit, right?
08:51
Amy: Yes, it did. More than a little. With the job that I had, I was very unhappy. And I literally had to talk to a therapist because I was like, ‘Okay, I cannot even get up to go to work in the morning. ‘And it was such a mismatch that, like I said, when I got laid off at that company job, I was like, ‘Thank you.’ Because I literally was only there because of health care. And I needed health care. And what happened with the health care was the Affordable Care Act came in and I could now get health care. After the health care ran out, I was able to get health care on my own.
09:39
Stephanie: Because you had some preexisting conditions, which would have made it hard before.
09:43
Amy: Correct. I’m a cancer survivor three times over. And I’m doing very well thank you, and spreading the word that you know, you need health care, everyone needs health care because you never know what’s going to hit you. And that was one of the things for me was I got let go. Didn’t like the job. Had two kids that were in college and divorced. My emotions, I was down in the deepest dark area for me, I really was. And it makes a lot of sense. It took me a while to get that self-worth back up again. And doing that, recognizing that I have an asset in my brain, I know finances, taxes, other people, again, outsourced to us. I don’t need to do my own taxes, I outsource that because that’s not what I enjoy. I enjoy working with business owners who want to make something of their business. And they want to do that whether the one leaves a legacy, whether they want to sell the business, whatever they wanted successful business. And being in that spot where I was given, I could not recover. I had to do something. If nothing else, get out of my house, just move on, and continue with life. It’s been 10 years since I started my company. And I’ve had ups and downs as you can imagine. And I am on a huge upswing right now. Absolutely huge.
11:25
Kevin: Oh, glad to hear that. That’s the beauty of being a small business owner is it’s never just a smooth, straight line. Hey, sometimes that’s a good thing. Other times, it’s a little less fun.
11:42
Amy: Especially with where I was trying things, and that’s what’s important, also, for people to know, if it doesn’t work, try a different point. I’m putting three different names. Because I was over here. At one point, I was back over here, and then I finally got to where it was a straight line. And I know my businesses, I know the companies that need my assistance. I also know ones that can’t afford our services. And that’s okay, too. And it’s one of those there are more than enough companies out there doing what I do. I thought I was unique. Of course not. There are franchises out there. Mine, though, I have created only organically from the beginning. And just talking to people, as I said, everywhere. I got a client walking on the mountain. We started talking, we recognized each other, we were on the same time schedule, so various Saturdays, we’d both be out walking our dogs, and there was this person, it’s funny, the dogs got to know each other, we got to know each other, he became a client.
12:56
Kevin: You never know. Your company’s name, where’d you come up with that?
13:01
Amy: I realized with the other two company names, that nobody ever knew what I did.
13:10
Kevin: And what were those company names, by the way?
13:12
Amy: Okay. Fin Org 4U
13:14
Stephanie: I remember that one with the number 4.
13:17
Amy: The number 4 and the letter U. Fin Org 4 U. Nobody knew what I did. Then it was changed to Andersson Productivity Solutions, which is way too long. And nobody could spell Andersson because it’s got the two s’s. And I wasn’t really doing productivity stuff or solutions. So that didn’t make any sense. So really, I am an outsource accounting department. And that accounting department can range from just basic bank reconciliations all the way up to and including a full accounting department for companies. And we do everything at the two ends and everything in between. So, I sat down with a branding specialist. Remember, I’ve said it at the beginning, do what you do best and outsource the rest. I am not a brand person. I’m not a creative type of person. And there is no such thing as creative accounting, by the way, guys, so I’m not creative in that mode. So, we sat down, and we talked about what I do, all of this. And we took a break. We went to lunch, we were sitting there at lunch, and she just said, ‘What’s your name?’ I said, ‘Amy Andersson.’ ‘No, what’s the whole name?’ And I said, ‘Amy Price Dorothy Turner Andersson.’
14:41
Stephanie: That’s your name?
14:43
Amy: That’s my full name. So, Amy was my given name, that means beloved. Price was an old family name. Dorothy was my confirmation name. Turner was my father’s last name. And she just circled Price and Turner and said, ‘Wait a minute. I think I’ve got it.’ I said, Watch the Price Turner. I said, ‘What?’ She said, ‘Price Turner.’ I said, ‘Yeah those are my names.’ She said, ‘Yeah, but what do you think of when you say price?’ I said, ‘Well, dollars number one, number two PricewaterhouseCoopers.’ Well, I started with Coopers. Price was the family name; he was a Commodore in the Navy in the US way back when with my roots. And then Turner is my father. And his father, well, my father and then my mother’s father, were both in the Navy. My grandfather was a Rear Admiral too. And he was buried at Arlington. Wow. And the Navy part stands for the integrity that I have in my family. And the fact that Turner and Price are very much family oriented. Then the question was, okay, CFO or CFOs. And I went, ‘Oh, there going to be more than one.’ So that’s CFOs, so the name is Price Turner CFOs, with my family as being the most important with the integrity in my values. And it’s just a great name, it has homage to the places that I worked, it just is what it came out. And I love it. And it does make people think of Price Turner as a play on words, anyway, the whole thing has worked. I’ve loved it. We came up with the color combination at that time. And it’s been wonderful, because I feel, again, that I made that company with having that name that I didn’t just make it up, that it was a definite decision that shows what this company does that shows the values of the company all on one.
16:59
Stephanie: Awesome, that must have been a fun process.
17:02
Amy: It was. And when we walked out of there like, ‘We’ve got it!’
17:05
Stephanie: Excellent.
17:10
Kevin: That’s a good story. I like that. So probably the most important follow-up question I have is, what kind of dog do you have?
17:19
Amy: He is a 12-year-old mutt sitting right here next to me. He was one of the things that I did to get out of that depressive state I was in, was get a dog. So that I had to walk outside, had to get out of a house, had to get some exercise. I always encourage entrepreneurs, or anyone I know, to get a dog. They’re lovable. And it’s so worthwhile, they love you unconditionally. No matter if you’re in a good mood or a bad mood, they’re going to make you in a good mood.
17:49
Kevin: Regular listeners know where I stand on the value of canines, shall we say? I got my guy next to me as well.
18:02
Stephanie: So, Amy, you mentioned, you have come to know which potential clients can’t afford your services. Talk to me and us about pricing, and how has it been a challenge for you figuring out how to price your services? Was there a time where you felt like you undercharged? Has that been a journey as well?
18:22
Amy: Oh, absolutely. As I said, when I felt everybody knew what I was doing, I was undercharging. With the seniors, I was undercharging. So, it took me quite a while to get to the point where I could charge what I’m worth, and it took me years to do that. And when I finally did, there were two things that I did with that, again, working with my business coach Ivy Slater, my success coach, and I’ve been with her for almost 10 years now. Literally, the year after I opened my business, I met her, and she could look at it from the outside. And it’s the same way I can look at somebody else’s business and tell them what to do. I couldn’t do it for myself. Your physician should not feel himself; your dentist should not be in his own mouth. I had to take somebody else, and I had to get to the point of listening to her and really feeling it in my gut.
Things that I did was number one, stop selling my services. What I sold was the emotion. Because if I take my car to a bar with to be repaired, I don’t care what things he’s going to do. He or she, I want to know that that person is going to fix my car. Right? And I feel good. When I come back and my car’s all fixed, I don’t care about the details. So, I stopped selling what it is that I do. I started selling, how does it feel? What is it that you think you need, and then I would let them know what they do need. Those needs are getting good financial statements. So if they needed to go to a bank, at any point in time, they could, if they were trying to sell their business, making sure everything was up to date, so they could prepare, if a business comes up out of the blue and says, ‘Hey, we want to buy you,’ if the business owner is able to take the set of books that he’s got, and provide them to them and say, ‘Yeah, everything’s up to date, what do you say?’ He can get a much higher value for that company because it’s under control. And putting in those processes and procedures, other people, the business owner doesn’t need to know, because we are outsourced as the entire accounting department, sometimes as just the CFO, as just the bookkeeper, whatever. But what is important with all of that is that the business owner has the motion of I’m in control. They’re still responsible for the number, they’re still responsible for their financial, but they know that they’re being kept up to date all the time. They know that if there’s an issue, we have their backs on it, we know what’s going on in the business and can provide them the best up-to-date information that they need. I don’t sell my services; I tell the emotion that they feel.
Kevin, that goes back to your question of, how do I feel now? I sell the emotions about how people like to know about their business. It’s one of those areas you can’t not deal with your business. And with what we do, and this goes back to the retirement, business owners should be looking at their retirement. Yes, every single person in this world should be looking at what are you going to do and when and record it. So, when we’re looking at business owners, we make sure that when they’re paying themselves, and if they need to increase their value, do they increase their pricing? And then number two, are they taking care of their employees? Are they taking care of themselves? Most good business owners will take care of their employees before they take care of themselves. And that’s a great business owner, it shows their values. I make sure that they’re paying themselves in two ways, number one from a salary perspective, or if they’re not incorporated, that they are taking the draw of some sort on a periodic basis, not just when there’s money in the bank. But you want that on a regular basis. And then the other is that they’re putting aside retirement. Does the company have a retirement plan? Or can the person do a SEP or something like that, where they can put money aside for them as an owner and for their family? I look into all of that. So, when I’m working with a business owner, this business and personal are often together. They really are, and separating them out, it’s important, from a legal perspective, from a corporate veil perspective. However, when we’re working with the owner, we’re looking at the entire owner, the owner doing this, what is the owner doing for this? We get to know the people as a family. So, we make sure they’re taken care of in ways that they didn’t even think about.
24:47
Stephanie: So, it sounds like there’s a lot of skills beyond just the finances and the numbers that you’ve had to learn and get good at, over the years of yourself being a business owner now.
24:00
Amy: Yeah. I call myself a cheerleader, encouraging the company to do what they need to do – a therapist. We’ve all had bad turns in business. The pandemic was a great example. With the pandemic, I reached out to every single one of my clients when you know, Philadelphia, I’m based in Philadelphia, but I have clients around the US. How are you? That’s all I asked. Every single one was how are you today? How’s the family? Are you guys okay? Yeah, that was it was it back to a true authentic client relationship that I have with my clients. So how are they? How is their family? Are the schools in session? What are you doing? Do you have what you need? What questions do you have? It wasn’t about finances at all, it was about the people and their families. And then when funding became available, again, I worked with all my clients. It was so fulfilling helping everybody. I was doing it for the altruistic, where I let people know, there is money available. We’ll help you get it.
25:28
Stephanie: I love that. Because I think a lot of people like your first instinct, right? Was, I want to be altruistic, give back to the community help others, I’m going to go work for a nonprofit, but you are helping others just as much, maybe more as a for-profit business owner. Those two things are not mutually exclusive.
25:46
Amy: No, they’re not. And that’s the other thing is if you have the values, and you’re helping other people with those same values, like I said, outsourcing the rest, you’re going to help other small business owners doing something, and you’re helping those people to get their businesses to grow. So, our business model has changed over the years. We can do our best to help. And where, and you mentioned this before, this is not a nonprofit. I don’t run a nonprofit. I have 10 employees, and three other CFOs, I run a full business. And I need to make money for my own purposes and for my own retirement and such. And that’s a good thing.
26:35
Stephanie: Yeah, absolutely.
26:36
Kevin: So, looking back before everything started. You were slaving away at you know the corporate job. Not exactly happy. But you had some vision of what your next stage might look like or when it might happen as far as you know when you’re going to retire. Now compare that to where you are today. Not only how has your retirement vision changed, but how hard or easy was it to make those adjustments to your mindset?
27:11
Amy: Being an entrepreneur, it’s the hardest thing I’ve ever done.
27:18
Stephanie: And that’s saying something.
27:25
Amy: For those getting up and go into a job every day, you know, and no, I was not a nine-to-fiver, I worked weekends, I traveled for the business, etc. And I got a lot of satisfaction out of it. When I got laid off, I realized, and again, I was coming from the role of the company is always going to take care of you. And that didn’t always happen, I was laid off, I switched positions, etc. But in my mind, as I said before, I was always going to be a corporate person. When I got laid off, after the nonprofit, I looked at every company that was out there and just said, I can’t work a J O B, I cannot get up in the morning and be excited about this. Every job I saw was exactly the same. Was I pigeonholed? Probably. But I was looking for the skill sets that I had. And when I started my company, it was not in the mode of, I’m going to be here by myself. I’m working by myself. Because I’ve realized that I’ve liked the business development. And I don’t like the day-to-day accounting part of it. My team provides that. I don’t provide that. Because I’ve gotten past that. I need other things. So, talking to companies about their future about what they’re doing, doing this strategy with them.
And then when I did on my own company, Kevin, to your question I had to do with my business coach, because I couldn’t see it for what it might be. I had to have somebody else being that coach, being that strategist and working with me to see the future that was possible. So, part of the reason that I have employees that I have other CFOs, who are their consultants with me, is to grow the company.
And my team is handling all my other clients for me so that, quote, unquote, retirement is out there. I just don’t know when yet. As I said, I’m going to be a grandmother soon, my health is reasonable. So that’s exciting. I want to be able to travel and things like that. But I can still see myself working from five to 10 years, something like that now, and selling the company to a larger company, that fits my values or selling it to my employees, depending upon how that might work. Because I don’t want to work every day of my life for the rest of my life. I’m not going to be the person who hangs on till I’m 80 years old still doing that. If I want to do other things, like more travel, like spending time with grandkids or kids, whatever that might be. And, you know, I’ve got a new e-bike, by the way, those on the podcast, getting an e-bike is the best thing for you. You can go very far, and you still get a great workout.
31:06
Stephanie: This is the electric bike right or the little motor on it.
31:10
Amy: A little motor on it. It’s a battery motor, so it’s not considered a motorbike or anything like that. You can still go all the trails, and it just lets you go, and you still get a good workout. You really do. It’s a 50-pound bike. So, if you turn off the motor, just pedaling on a 50-pound bike, and you always have to help. So, it’s not like a moped where you just sit in and goes, you’ve got to be pedaling the whole time. And now that I’ve got that, I can take that anywhere I want. And being active is what I want to do. So now that retirement, yes, it’s out there, Kevin, but I don’t know, quite when.
31:46
Stephanie: But it’s also, maybe there’s a different range of possibilities now that you own the business. And you could structure it where you work every day, or more than every day, or one day a week or so. The possibilities are endless,
32:00
Amy: Possibilities are out there. And I’ve built the procedures and such. So, it is expandable, very easily expandable. And they’ll be able to say that, again, after my 10 years and everything else, we have processes in place, we have controls in place. We’re interviewing all the time, because if we find good people, I will bring others on at that point, in terms of the clients, because the people want to work, and it is primarily women who work for me, it’s totally virtual. So we were in before the pandemic, but that has changed. In fact, that got even easier for people to understand that there were a lot of people who still are like, ‘Well, you have to go into the office.’ Now, I don’t go into the office, I’m okay with being virtual. And so, it’s definitely opened up the possibilities for, being in the office a couple of days, and in the office, I work from Boston, I can work from Greece if I wanted to. It doesn’t matter where I am. So that’s the other thing with being virtual is you can work from everywhere.
33:20
Stephanie: Yeah. Geographical independence. What advice would you have for a woman who might be listening who is potentially worried that a layoff might be in her future, or some involuntary, early retirement that was not by choice? What can people do to prepare themselves and be ready for whatever might come down the road?
33:46
Amy: One of the biggest things is to make sure you have a network of people. With my kids off in college, I had stopped seeing a lot of the kid’s parents, whether you were in sports, or whatever. And then, they’re in college, I’m working and as parents do when their kids go off to college, spend more time at work. And then I was also divorced. So, all these things came to a point where I had nobody in my circle. And that was, again, isolating, back to Kevin’s point, I haven’t felt very isolated. I met friends at the dog park, absolutely. But you have to still have those connections with people. You’ve got to make it work. It’s work to make it work. That really is. One of the things also is not only to have those personal connections but to have worked relationships. When I was like, go, and I didn’t see it coming, I realized I hadn’t gone to any networking activities until I was laid off. Because at that point, I’m looking for a job. That’s where a lot of people go to network, don’t do that. Whatever your business is now, whatever you’re doing with the corporation, get involved in associations. get involved in whatever it might be, just to be able to have those connections. So, when you are laid off, you can reach out to other people and say, ‘Hey, I was just laid off, this is what I’m doing. Do you have any ideas for where I might be able to get a new position or be able to help you or whatever, and have those conversations?’
35:38
Stephanie: It’s someone you already know, who knows you. Instead of reaching out cold.
35:45
Amy: Yeah, they already know you. They’ve already built a like and trust with you already just as a true relationship. So, when you’re laid off, you’re going to reach out to them. Well, guess what, next month, they might be laid off. And there are times that that will happen. And just having those people to go to say, ‘Hey.’ And one of the best tools to do that is LinkedIn. LinkedIn is out there, and it is for free. If you’re not on the recruiting side, and you can set up all your relationships on their phone call does not cost anything. So, reach out, talk to people spend the time to have those relations. Just because I tell you when I was like, oh, it’s like, Who do I know? And it was very tough. And again, people are working now. So, it’s like, okay, what do I do? Who do I call what? How does this happen? And the recruiters have a role in the world, but they’re also looking out to get you placed most of the time. And they’re not looking out for the best match to you and your personality and your needs. So be also cognizant of that. You should always again, any advice, continue networking, start networking, if you haven’t, have those conversations with people just to explore, having them available when you get laid off. Just somebody else to talk to about how you’re feeling.
37:15
Kevin: What I hear you saying, when you’re saying networking, you’re not necessarily saying exclusively or only professional networking. It could be anything. I mean, it could be social, charitable, whatever, but just having a network of people that you can speak with, right?
37:36
Stephanie: Yeah, it could be your alumni group, whatever it might be. But just be connected.
37:41
Amy: For a while, I volunteered at a cancer place. Red Cross provided Hope Lodge. And again, with cancer in my background, in my body, I wanted to give back, and this was a place I could volunteer. Well, lo and behold, I volunteered there, and saw the name of a company, that had provided funding for the kitchen of this Hope Lodge of lodges where people from either out of the country or out of the state go to, and they can stay there at the Ronald McDonald House. But for adults, they need the transportation, it’s a hotel room type of thing that they could stay out. And they provide all their own food because there might be special dietary or whatever, but I volunteered there. Then from there, I saw that sign about this company that had funded part of the kitchen. Then I was talking to my chiropractor, and he knew someone who knew someone, and I talked to them, lo and behold, that’s how I ended up volunteering at this other company, which is a nonprofit, and then being hired by them was because of the volunteering, and again, my network at that time with a lot of my doctors going on yet. Your kids, friends, parents, your, your will relatives, your church group, your volunteer activities, your college, reunion, whatever. I went to a high school reunion during that time also and spread the word that I was looking for something and now between Facebook and LinkedIn, you can let people know what’s going on. And you can help others.
39:37
Stephanie: Exactly. That’s how I was thinking it’s not one way.
39:40
Amy: No, it’s definitely not one way.
39:42
Kevin: And as a quick aside, we’re going to put a link in the show notes so you can learn more about Hope Lodge, because when my dad was going through his cancer issues, my parents relied on that relied on Hope Lodge heavily going up to Cleveland Clinic and other institutions. I know the value of that organization very well. I knew that would be good for us to put out there so more people can learn about that resource.
40:15
Amy: When I was there, I think there was only I worked there for probably three or four months. And I think it only had like two nights that were open in the Philadelphia area. And part of that, again, is because there are so many facilities here in Philadelphia, that people were going down to Temple, they were going to Fox, Chase, Pen. You name it.
40:43
Stephanie: So, Amy, what do you wish you knew back then, back when you first got the bad news? What have you learned now that you wish you could tell me 10 years ago?
40:55
Amy: Oh, do we have an hour?
40:57
Kevin: If it’s interesting enough, yes, we do.
41:05
Amy: The biggest thing is having your own self-worth. My story is one that I was just down, as I said, and it literally took me a good five, six years to get to the point that I felt comfortable with charging the prices that other people said I should have been charging when I first started, knowing that self-worth, and this is not a gender-specific, but many women will not go after that job posting. Because you don’t have 100% of the coverage. Well, if you’ve got 100, how are you going to learn anything? Go after the jobs that have one thing that you can do because the guys do. And why not? I think the younger generation is starting to do that. They are being told you can do anything. I’ve got a good story. My father was fairly famous for his little tidbits. Now take this two-minute conversation. And it was something that stuck with me for the rest of my life. So as a CPA, I’m working in public accounting, big eight at the time. And he said, ‘Amy, make sure you take your coffee black.’ And I said, ‘Why?’ And he said ‘That way, whenever anybody asks, does anyone want coffee? You can say, I’ll take mine black. Thank you very much.’ And you’re not the secretary going to get the coffee for everybody else there. I have found that to this day, I drink my coffee, black. But it was just that he believed in me. And again, when I started out, it was a male society, especially in the accounting world, especially in the lending. Stephanie, you’re in this role. And this has not changed much for you, I don’t think. The men still outnumber the women in accounting. Now, it’s gotten more, because with women have been told that they can do the STEM jobs. But in a business environment, it’s going to be on them. They’re going to be a few women. I was at a meeting a couple of weeks ago. And there were five guys and myself. And I mean, another group of people, and again, it’s twenty guys and myself. So, stand up there, be at the table. I don’t remember if it was Michelle Obama, or Madeleine Albright, whoever it was, it doesn’t matter. If your seat is not offered at the table, grab your own chair. We’ve got to do more. And so, 10 years ago, I was terrified. And there was a networking group that I was not comfortable in joining. Because I did not feel that I belonged to every single one of those qualifications for membership. Nobody said that. I did that. It was just the way I felt. And now I’m very active in that organization. And I’d love it. And it’s appropriate. And I’m equally there as everybody else’s. But it was a sad feeling. So back to what I would have done differently. Pull up that chair, you belong there.
44:55
Stephanie: But I think one of the parts of their story that I love is that you’ve found a coach early on, right, someone who was in turn your cheerleader and was able to not only give you learning and information, but also kind of that mirror back to yourself to find your own way and maybe push you more than you would have on your own.
45:16
Amy: Absolutely. And the first year I was with her, I tripled my income. So, the second year, continue going, etc. And she always was telling me your clients are not the client that this revenue, your level, your clients are at this revenue level. Well, now I have clients at this revenue level.
45:38
Stephanie: And just for those who can’t see Amy’s making her hand higher and higher in the air. Every time she says this revenue level.
45:48
Amy: The pandemic really changed my attitude that we’re all on the same boat together. And that’s where I think also when I started just reaching out to people, was the true, I’m here to help you. And that’s all it was. It wasn’t about what I know, it was we’re in this, I have ways that I can help you. And just by doing it with that service in mind. Yeah, I’m a businesswoman, but it was really given with all heart, with the altruistic view that I have. And then I started charging for things. And then it was like, I can charge to this. I can charge to this. And it suddenly that barrier that I had that we’re talking about that barrier was gone down. And it’s a totally different viewpoint now.
46:41
Stephanie: Well, your clients weren’t complaining about your prices, right? They were thrilled with the way you were providing.
46:47
Amy: Oh, no doubt about it.
46:49
Stephanie: I love your insight about finding what was easy for you and realizing that that was your special talent that other people didn’t possess. And it’s a gift that you can provide to your clients.
47:05
Amy: And do it without them even worrying about it. They know what’s going to be done, right? They know what’s going to be done with full integrity. And that’s the other thing I did have a client ask at one point if I’m wanting to invest in them. I said, ‘No, because I have independence with you. As a CPA, I’m not doing your taxes, but I am doing your books, and doing your accounting department. I don’t want to be an owner because that could sway my objectivity viewpoint.’ And it was eye-opening for the owner to count on him. We’re making membership distributions, we’re going to increase them because you have money, or when not making membership distributions, because you don’t have the cash, I can say that, with all honesty, and with all objectivity. If I was looking at my own wallet getting money, no.
48:10
Kevin: Well, Amy, it’s been fabulous talking with you. Truthfully, I have another 20 questions, I would love to ask you. But I got to, at some point, Stephanie, our editor is going to sit there and start saying, ‘Come on, guys. Wrap it up.’ How can people learn more about your business? And how can they find you and reach out to you?
48:34
Amy: So, Price Turner CFOs is the name of the company. The website is priceturnercfos.com. They can look me up on LinkedIn, Amy Andersson. I’m always there. And yes, look me up, send me a question. There’s a spot for you to put information on the website. And I’d love to hear from everybody.
49:03
Stephanie: Thanks so much, Amy, for your openness and vulnerability and willingness to share your story, I know that people are going to get a lot out of it.
49:15
Amy: Thank you for having me, this has been a lot of fun, we appreciate it and really enjoy it.
49:21
Kevin: Okay, a lot to unpack there. Frankly, Stephanie, I think probably the biggest takeaway or reinforcement, I heard Amy say was the value of being prepared to get laid off. Or at least having that in your back pocket, you know, and it is harder for older workers to get hired versus younger workers, there is ageism, also you’re going to be looking to earn more money than, say, a 25-year-old, right? So, a couple of the things she said, talk with everybody. Now, yes, that could be when you’re building up your business, you never know who you’re going to get as a client, but also building up your network so that when something does happen, you have people who you can reach out to, you know, there’s the whole game of six degrees, Six Degrees of Kevin Bacon that, you know, you get that you say any actor, and within six movies, you can figure out, Kevin Bacon actually acted with somebody. That’s how networking works, which is you may not know the person who can get you your next job or encourage you to start your own. But they may know somebody, or they may know somebody. And next thing, you know, you have not just 10 people helping you, you could have 100 200 people helping you with that. And I think that’s important for people to understand and appreciate.
50:45
Stephanie: Well, it’s like an investment that you need to keep making along the career, right? You’ve got to make that investment while things are going well, so that it can then bear fruit for you when things don’t go well. But like Amy said, it was hard because she had kind of let it go and ignored it. When things were going well at her corporate job. And she felt like she had secure employment. And then she kind of had to start from scratch from there. So, I appreciated that advice of keeping it going right. It does take a little time. But even if we spend, you know, half an hour on LinkedIn each week reaching out to people staying connected, seeing what people are doing right sending messages that has made it easier, I think to keep connected with people. No, absolutely. What I really appreciate about Amy is just she’s such a survivor, right? I mean, three-time cancer survivor to layoffs, and then quite a few pivots in the business. And she just always has such a, you know, an open and positive spirit about things. So, I knew she’d be an interesting interview, and she certainly didn’t disappoint. What I think, you know, really struck me was that, you know, the realization like, oh, wait, this stuff. This is easy for me. And it’s valuable to other people because it’s not easy for them. Kevin, you and I were talking briefly like we kind of have a similar thing in our profession.
52:05
Kevin: Absolutely. I mean, all, you know, all the time when I’m sitting here writing newsletters, for example, saying, ‘Do I really need to put this in? Everybody knows this.’ And it turns out, no, nobody knows this stuff. It’s just, we’re so in our own little silos, if you will, and a lot of people we talk to, which is the value of having a broader network than just a professional network, you get to hear what other people think and do or do not know, and you get a greater appreciation of your own knowledge and skills.
52:40
Stephanie: I think Amy’s unique perspective, too, as someone who looks at the financials for her clients, which includes their businesses and their personal stuff, right, her emphasis on the importance of having health insurance, and for everybody planning for their own retirement, quote, unquote, whatever that might mean, but socking money away for the future. So that you have options and she’s wagging her finger at her business owner clients that they need to be doing that for themselves, when so often, as she said, business owners want to take care of their employees and plow money back into the business. But they need to also, you know, have that impartial perspective of someone that’s telling them, ‘Hey, watch out for yourself as well.’
53:29
Kevin: And just to say one more thing. Her story encapsulates one of the major reasons we do this podcast, which is to help people understand life is not a set-piece plan and that whatever you decide you’re going to do at 40, is who you’re going to be at 60, 65 80, whatever. She pivoted and then pivoted, then pivoted. And it wasn’t that she got trapped into this mindset of, This is what I’m going to do. I got it, so that’s all I can do. Okay, the facts have changed, and my situation has changed. Where do I go from here? And she adapted and overcame.
54:12
Stephanie: And the first pivot was forced, and then, she had to find her way. And she found help along the way, and she’s got a great network of people supporting her. And it’s a good story. So, I’m so glad that she was able to join us. Thank you all for being with us. We’ll talk to you next time. It’s goodbye from me.
54:30
Kevin: And it’s goodbye from her.
54:34
Stephanie: Be sure to subscribe to the show and please share it with your friends. Show notes and more information available at takebackretirement.com. Huge thanks for the original music by the one and only, Raymond Loewy through New Math in New York. See you next time.
54:48
Disclaimer: Investment advice offered through Private Advisor Group, LLC, a registered investment advisor. Private Advisor Group, American Financial Management Group, and Sofia Financial are separate entities. The opinions voiced in this material, are for general information only and are not intended to provide specific advice, or recommendations for any individual security. To determine which investments may be appropriate for you, consult your financial advisor, prior to investing. This information is not intended to be substitute for individualized tax advice. Please consult your tax advisor regarding your specific situation.
