Investing in the future
Many Aggies are accustomed to the poor college student lifestyle. They rely on student loans to make it through college, get a degree and move on to a job and hopefully become financially successful. Some students, however, are involved an organization called the Cache Valley Area Investors Association, or CVAIA and are taught principles that allow them to open their own businesses, make good financial decisions and work toward financial independence.
Preston Parker, a visiting lecturer at USU, is the founder and president of the CVAIA. Parker said he founded the organization in August 2007 in an effort to deal with the lack of optimism he found in others, as well as to give financial advice to those earnestly seeking it.
“People kept asking me for financial advice and I was getting tired of the lack of optimism and positive thinking,” said Parker. “People were complaining about their jobs even before the recession.”
The organization is open to the public and promotes principles such as financial independency. Parker said this concept is the point in which one’s passive income, generated through mediums such as investments or businesses owned, is greater than one’s monthly expenses. Parker said once a person reaches this point, they no longer have to complain about their jobs as they can work wherever they want and would be doing it simply because they love to do it rather than out of financial dependency.
“You can stay home all day at that point if you want,” said Parker. “You can work wherever, however you want. You go from working just to be able to do fun things to doing fun things that generate value and make the world a better place.”
Parker said the focus of most people is on active income, or money earned by doing something. CVAIA tries to shift people’s focus to passive income, giving people financial independence as well as increased optimism.
While the organization is not specific to the university, many students are involved in it. Parker said nearly half of those who attend their meetings are students.
Tyler Woodbury, a senior pursuing an interdisciplinary degree based on filmmaking and current secretary of CVAIA, has been involved with the organization since it was founded. He said CVAIA has helped him immensely to consider new financial opportunities and also with starting his own Low Liability Company, or LLC. Woodbury’s business is known as Woodbury Productions, LLC, and has an emphasis in video production.
“Without CVAIA, I wouldn’t have known any of this was possible,” said Woodbury. “It has been an avenue for educating me. I just purchased a duplex which I’m living and working out of. Without CVAIA, I never would have even considered it.”
“It altered my career path,” said Nathan Johnson, a sophomore studying business. “When I first joined I didn’t know anything about investing – I was pretty clueless.”
Johnson is currently CVAIA’s vice president over communications and has been involved with the group since it began. With the knowledge he has gained through that association, Johnson said he was able to start a company called Grandson
Tech, LLC, which provided technical support to senior citizens, and is currently working with his cousin to open another company called Kshape, an online personal training website.
“It really got me thinking more about the future,” Johnson said. “When I first started college I wanted to just get through college and invest later. CVAIA opened my eyes.”
Johnson said he had a mentality that he needed money to be able to invest, but learned through his involvement with CVAIA that he had other resources he could invest such as time and credit, as well as opportunities to invest through an extensive network of people he came to know by his affiliation with the group.
“I got to know a whole lot more people that I ever would have had I not joined,” he said.
Johnson said those he was able to get to know in this network include real estate moguls, business owners, lenders and financial planners.
Parker said all are welcome to come to their meetings, which he said are in a non-threatening environment. He said students in particular can benefit from the principles taught there.
“The biggest investment that young people can make is in their brains,” Parker said. “Come and get some of your best education possible. Most high school and college grads don’t know what it is to be financially independent. People in the 18-24 year old age group need this a lot.”
CVAIA meetings are held on the first and third Thursday of every month. The first meeting is held at the Chamber of Commerce at 160 N. Main St. The second is held at predetermined local restaurants, according to Parker. Meetings are at 7:00 pm.
Johnson and Parker said the organization is member run.
“We learn about whatever we want to learn about,” Johnson said. “It’s just free education and it’s a resource people are not taking advantage of as much as they should.”
Johnson said CVAIA has been a positive experience.
“It’s been great,” said Johnson. “I have loved every minute of it and enjoyed the optimistic attitude.”
Johnson said while the media is negative in regards to stocks, real estate and investments, at CVAIA they maintain a positive attitude.
“We are all about the solution,” Parker said. “First you think like a rich person, then you act that way. Then, it becomes a reality.”
– calewp@gmail.com