Prior Lake man pens book on financial advice

Prior Lake American

Former Prior Lake resident Vern Schultz said he learned a few lessons growing up during the Great Depression, and he wants to pass them on.

Schultz, who lived in Prior Lake for 50 years but now lives in Apple Valley, has self-published “Grandpa’s Rocking Chair,” a financial advice book.

“The book premise is that I hope my kids and grandkids can have the same good retirement, can move into my rocking chair,” Schultz said, adding that he thinks today is a very challenging time for people financially.

Schultz was born in 1929, the same year the Great Depression began. The Depression lasted until 1939, sending the unemployment rate in the United States to 25 percent at one point.

“I saw how the people survived with no employment when the economy was bad, and I came up with certain principles they used to live by,” Schultz said. “You didn’t go to restaurants. You didn’t spend money on anything. All our clothing was secondhand. I knew what I was going to wear tomorrow because my brother was wearing it today.”

Schultz said his book urges readers to stay out of debt or get out of it, save their money and don’t give it away, and think outside the box for how to make money.

“I have lots of examples and suggestions,” Schultz said. “Maybe if people understand a little more conservative approach to living, they’re going to have a better chance to take over my rocking chair.”

He began to write the book after speaking with a friend about financial advice he wanted to include. Schultz recalled her asking “I’m in debt — why don’t you tell me how to get out of debt?” Schultz said he went home, threw away what he had started and began again.

“This is a little shot in the arm for young people who I know are having a lot of trouble,” Schultz said. “That’s who I am writing it for, though I think older people will enjoy reading about the Depression.”

“Grandpa’s Rocking Chair” can be purchased on Amazon and at Barnes and Noble.