The Upside of Being a Contrarian

dan solinAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Dan's new book for millennials, Wealthier: The Investing Field Guide for Millennials, will be published on May 15, 2024, and available on Amazon.

I’m a contrary person. I’m not sure how I became one. Perhaps it's a combination of my background and legal training.

As I look back on my life, while I’ve made many mistakes, the decisions that made a substantial positive change in my life were contrary:

  • When I asked for input about writing the Smartest Investment Book You’ll Ever Read, almost no one supported the idea. The initial reaction to the book was derision. But it became a NY Times bestseller and launched my writing career.
  • When I provided funding for a new venture founded by an engineer who was broke and suffering from an incurable illness, everyone I consulted told me I was “nuts.” The company is now in its third decade of profitability and continues to expand.
  • I left two “secure” positions: one with a large international company and the other with a major law firm in NYC. My motivation was to work for myself. In both cases, the advice I received was that leaving those “secure,” high-paying jobs with prestigious employers was irresponsible, mainly because I was married with two small children. The company and the law firm subsequently imploded and are no longer in business.