Creating a Financial Plan
For longtime investor Dwayne Daussin, the financial security provided by American Funds allowed him to leave the stressful corporate world in Houston to open his own business in rural East Texas. There, he leads a slower pace of life and sets his own schedule, giving him plenty of time to lead an active outdoor lifestyle and generally stay healthy — something he takes very seriously.
RECORDED OCTOBER 2016
Dwayne Daussin: My dad affected my philosophy a great deal. I mean he did saving and putting what he can away. And he had built a pretty good life. He was always saying, “You sure you want that? Let’s save for tomorrow,” you know. I mean, I followed his advice and just kept, again, going back to feeding the pig, just keep adding to it and adding to it. When you’re young you’re like, “Well why's he doing that? What's this all about?” And then you mature. And then you see the bigger picture, and you say, “Oh, that’s why he said that.” Priceless, my father’s advice was priceless. I don’t know what else to say about that.
I was in the corporate field in Houston and worked as a production coordinator. Decided in ‘93 to go a different direction and retired from there and took my existing 401(k) with that company and rolled it over into the AMCAP Fund — which gave me the confidence in the sense of being comfortable with making my move and setting up here and trying a new business. Which is pretty risky if you don't have that security blanket there. You know, that’s something . . . I didn’t have to borrow money from the bank to start my business. I was somewhat liquid, but with all that going, it made it so much easier to make the decision to come out here to the Piney Woods of East Texas.
Again, that’s a big decision in one’s life to make a change of that magnitude. I would have probably had to stay more years and done like everybody else — retired when I’m 65, 70 and not have much time left to enjoy what I want to do. I’ve had friends who are in the corporate field who are doing real well financially, but health-wise they're not doing too well. To me, my health is more important than that at this time in my life. For me, health is wealth, and out here in this environment, rowing my boat, riding my mountain bike — I can go at my own pace here. AMCAP has played a big part in that, keeps you steady, and it’s a good place to be.
This does not necessarily constitute an endorsement of the funds by the individuals or organizations portrayed in the video. Your experience may vary.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
Content contained herein is not intended to serve as impartial investment or fiduciary advice. The content has been developed by Capital Group, which receives fees for managing, distributing and/or servicing its investments.
Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This information is intended to highlight issues and should not be considered advice, an endorsement or a recommendation.
Past results are not predictive of results in future periods.