Ruminations of a Taco-Obsessed Philly Native

Everybody loves an inspirational story about how a company is built by someone who turns it into more than just a money-making machine into something bigger that touches the community and cares for people. That’s what the Global Vision Academy is about and why they awarded the Global Visionary recognition to Sheldon Lavin, the longtime CEO of OSI Industries. Lavin has certainly worked hard to build OSI Group into one of the world’s top-ranked meat companies, but he’s also upheld the values of family and putting people above profits at the company. What’s even more impressive is that Lavin hasn’t slowed down his work even though he’s now past 80 years old.

Sheldon Lavin began in investment banking and then opened his own financial advisory company. He had planned to stay with this company for the foreseeable future, but he had an encounter with a family-owned meat wholesale company that changed his direction. That company was Otto & Sons which had been founded by Otto Kolschowsky and was now a big supplier for the growing popular McDonald’s fast food restaurant. Lavin had been asked to help the company invest in more production plants and raise funds, but McDonald’s and its bank also wanted Lavin to become a partner in the company. After much consideration and even turning down the offer at first, Lavin consented and became CEO and eventually fully owned the company. About more for Sheldon Lavin, Chairman And CEO Of OSI Group, LLC.

Lavin decided to make international sales a huge part of the company’s objectives, and in the 1980s OSI Industries started opening some plants in Europe and Asia. Today the company has 55 facilities in 16 countries, though some companies have been bought and still hold their original brand names since Lavin believes in maintaining recognition for already established companies. But Lavin also has made retaining jobs a priority at each company OSI has bought, and he’s helped foster a culture within OSI that’s led to many employees staying with the company for the long-term. Lavin was also once recognized at the North American Meat Institute with the Edward Jones Community Service award for his involvement in philanthropy which includes supporting the Boys and Girls Clubs of Chicago, the Chicago Inner City Foundation and Ronald McDonald House Charities.

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The interview recap

David kicks off the conversation by asking some basic questions about retirement. He notes that is better to retire later but more prepared. So many people want an early retirement but do not want to plan early. He notes that the fundamental reality of any retirement is that you will spend more than you earn. You have to bear this in mind since people who are used to lavish lifestyles will probably lower their standards if they do not plan properly.

It is not easy to determine how much money you will need at this stage of your life. For starters, try to save as much money as you can. David warns that it is likely that whatever amount you save will not be enough for the whole retirement period. That is why you should also consider investing your money. Conventionally, you should have saved about six times the amount of money that you earn yearly by the time you hit 50. If you have not done this, you might want to reconsider your early retirement decision.

About David

David is a leading expert when it comes to matters related to personal and business financial management. His resume is impressive, and so are the insights that he presents in the interview. At the moment, David works for the Nationwide Financial Distribution Inc. He is also a top adviser to the NISC. Before this, he worked at Citigroup for a decade where he received the highest possible level of promotion.

David Giertz has worked with many financial and management companies in top leadership positions. In the past, he has assisted in leading the growth of businesses involved in insurance, specialty markets, annuities, dealership, Wirehouses, regional firms, RIAs, IMO, and banks. He participated in these companies in the capacity of an external consultant as opposed to a senior employee.