Reflections on a Most Interesting Semester: Coronavirus, Life at Home; Tenure/Promotion; Teaching Award

April 1, 2020
[my 62nd birthday (not an April Fool's joke)]

Planning Ahead with Zoom Instruction. As the impact of the Coronavirus became known, I signed up for a Zoom instruction on Feb. 26th. At the beginning of the session, everyone stated why they were there. When I said that I was hoping to improve my Zoom skills if the Coronavirus hit, I received a lot of looks from others present.

Shifting to Online Classes. Despite the Zoom instruction, when WKU (and nearly every other university in the country) shifted to online classes following Spring Break, after conferring with several students I decided not to utilize Zoom. I realized that many students did not possess fast internet. Others, having gone home, were then landing full-time jobs to support their families (who often had been furloughed from their own employment). Instead, I am recording and uploading videos to YouTube, using Discussion Boards, and communicating with students by email and phone.

The choice of moving to asynchronous education, rather than continuing with synchronous education, has been appreciated by several students with whom I have spoken. It has led me to re-design my instruction. I expanded upon the content I deliver via lecture, as the back-and-forth interaction I had with students, in-class, as "Class Preparation Assignments" and projects were reviewed, is no longer present to reinforce the learning of concepts.

I sit here wondering how to improve upon this instructional method, however, should online instruction be mandated in the Fall 2020 semester. With more advance notice, students would hopefully be able to obtain the resources needed for synchronous instruction in the Fall, should online instruction be necessary.

Missing My Students. Self-isolation is tough. Even though I have others in my household, I absolutely miss the in-person meetings and in-class (and after-class) discussions with my students. Those interactions with students keeps the 'ole Bear young, and it made each day special as I arrived on the campus each morning.

Concerns Regarding Graduating Student Unemployment. I am saddened, as well, by what my students are experiencing. Their entire lives have been disrupted. My seniors will not have a graduation ceremony to attend. Other students who had job offers, and even those who had accepted offers, have had the offers revoked. Students looking for internships and jobs have seen the market largely evaporate as firms have moved to cut expenses. We have gone from perhaps the best job market in 20 years for new college graduates, as of this January, to the worst job market.

I can only encourage my students, who don't have jobs, come May, to take actions to enhance their skills and employability. Learning and accomplishments don't cease with graduation. A lot of skills can be enhanced by using the "forced downtime" productively, until a job is later secured.

My Communication Coronovirus Warnings and Information to Others. On Feb. 28th I sent out my first "Special Update" to my clients. By April 1st I had sent out my eighth "Special Update." Some of these communications addressed economic concerns and the capital markets. But, by Saturday evening, March 7th, and thereafter, I tried to fill the gap in media coverage, and to counter the lack of concern expressed by some public officials about the Coronavirus (COVID-19) and its implication.

In my updates I sought to convey useful information about how to avoid becoming infected with the Coronavirus; I urged my clients, students, friends and families to "hunker down" - and I warned that the impacts could get much worse.

Quick "Rescue Trip" to and from Florida. On Feb. 6th-8th, a 1,400-mile driving trip to and from Florida was undertaken with my wife, in order to retrieve my mother-in-law. She had been visiting family, and we did not desire her to be at risk by flying home. I was amazed at all of the cars on the road, and people just going about their everyday lives. This probably spurred me on to write several more "Special Updates" in quick succession.

Client Communications. Of course, time spent on the phone with clients increased, substantially. While I only serve 16 family groups with financial and investment planning, each family's situation is different, and each client faces his or her own unique challenges as the economic and market environment has shifted.

I've enjoyed my conversations with my clients, and there there will be many more communications to be undertaken in the future.

But, in all likelihood, due to pandemic safety concerns for my clients, my annual visits to see clients (from Florida to Massachusetts to Chicago and then returning) will likely not occur this summer. I hope that the Skype calls can substitute for same, at least to a large degree. Still, I will miss the opportunity to visit with them, in-person.

Kicked Out of the Bedroom! Yes, my wife kicked me out, shortly after I began to work from home. After only 38 years of marriage!

By way of explanation, my chair and desk was in an alcove off of our master bedroom. Knowing that, now that I am working at home, I would often awake at 3:00 a.m. and have the urge to write thoughts down, my wife wisely decided to move my "office" to our guest bedroom. It has worked out great; my wife is so forward-thinking!

Tenure and Promotion. My application for early tenure as a pedagogical faculty, and promotion to Associate Professor (effective 7/1/20) was approved by the Provost on Feb. 1st, and by WKU President Caboni on Feb. 26th. (It still must be approved by the WKU Board of Regents.)

Tenure is a rite of passage for faculty members. While tenure has less meaning than in prior years, as to "job security," it is for me more of a milestone in my teaching career.

For pedagogical faculty, such as myself, who have no required research and publication requirements, tenure is a reflection of the effort undertaken - and accomplishments secured - in instructional design and implementation, as well as service to the university.

There are many persons to thank for their support along the way. Please permit me to identify them by groups:

• My wife, Cathy, and my daughters, who encouraged me to go into teaching (despite the lower compensation received by university faculty, relative to the financial rewards of my prior positions);
• The Alfred State College faculty and staff, where I started teaching, and who supported my exploration of various different methods to motivate students and improve their learning;
• The Department of Finance, and the entire WKU Gordon Ford College of Business, and WKU's CITL (and others), who have been so supportive - sharing materials and lesson plans, offering suggestions, and generally guiding me as I tackled new challenges and opportunities and improved my pedagogical techniques; and
• My professional colleagues within financial services, from whom I have learned, and continue to learn, so much. Including the many, many firms and individual professionals that support our Personal Financial Planning Program here at Western Kentucky University, and who have aided us as we continue our move toward the top of all similar programs in the U.S.

Gordon Ford College of Business Excellence in Teaching Award. In mid-March it was announced that I received the 2020 Gordon Ford College of Business "Excellence in Teaching" Award. While I have received other awards throughout my career, this one was quite meaningful to me.

Still, my greatest reward flows from seeing the transformation in my students, over the course of a couple of years. To be a small part of that transformation - into a more confident, more knowledgeable, more self-aware, and more emotionally intelligent young adult - is truly rewarding.

I have been fortunate had many jobs during my life - from Tin Man, to Disney Character, to stage manager, to lawyer, to investment adviser and Certified Financial Planner, and teaching as a university professor. While I found rewards in all of my positions, I truly enjoy serving both my clients, and my students - and seeing them achieve new heights.

Public Advocacy Efforts. I've continued some work in public advocacy over the past five weeks, as time permits. Including participating in a conference call with an SEC Commissioner, and communicating with various groups regarding developments in Congress and on industry issues. As greater time becomes available, I hope to ramp up my research and writings in this area.

Adjusting to Life at Home. I am adjusting to life at home. I have strong organizational skills (always have), and it was easy for me to adopt new goals, and adjust my "to do list" and calendar accordingly.

With the increased workload (client service and re-engineering my instructional delivery), I am still a bit "behind" where I desire to be. But, I should catch up by Sunday.

I've been able to set new goals, as well. For example, I have a goal of walking 35,000 steps a week. We have a nice neighborhood to walk around. While Cathy accompanies me often on my near-daily walks, I have tuned in to hear podcasts when she does not. (I always preferred reading, to glean new insights, as it is more efficient. But I've discovered that podcasts have their place.)

With another 2-3 months likely in "lock-down," I wonder what the future will bring. I have several writing projects that will occupy my time, so I'm not so worried about myself. But I do worry about my clients, my students, my family and friends.

But I know that, with our continued support of each other, we can and will survive the curveballs life throws at us. Overcoming challenges like the one now before us will only make us more resilient should other challenges arise in the future.

To my clients, students, friends and family ... thank you for being there, and for doing all that you do to help others through these difficult times.

As always, if you desire to talk, or have concerns or questions, please drop me a line or give me a call.

Thank you!

Ron A. Rhoades, JD, CFP

Personal Financial Advisor - Scholar Financial

Asst. Professor of Finance - Western Kentucky University's AACSB-accredited Gordon Ford College of Business

Email (preferred): Ron@ScholarFinancial.com (for clients)

Email (preferred): Ron.Rhoades@wku.edu (for students and all others)

Cell phone: 352.228.1672 (for all others)