Devone McLeod ’13 Assures Students that Wealth Building After Graduation Is Possible, Offering 10 Suggestions to Get Started

Fall 2023 Lunchtime Learning with Devone McLeod
Fall 2023 Lunchtime Learning with Devone McLeod – Standing from left: Diane Sutter ’72, President Ron Cole, Meredythe Baird ’24, Reece Smith ’24, Colin Elder ’25, Graham Kralic ’25, RJ Swanson ’24, Andrew Strobel ’24, Devone McLeod ’13, Nicholas Tysiachney ’25, Zula Stenger ’25, and Allegheny Provost,  Angela Haddad

Quigley Auditorium was packed as the Allegheny Community gathered to listen to Devone McLeod ’13 recount his postgraduate journey and how he was able to reach his career and income goals in five short years after graduation.  A valued member and co-Chair of the Center for Business and Economics Board of Visitors, he has built a distinguished career as a Certified Financial Planner (CFP®) and currently serves as 1st Vice President at the Wealth Enhancement Group.

CBE Fellow Meredythe Baird ‘24 commented, “It was a pleasure to spend time with Devone listening to his talk on wealth-building. He brought very valuable advice to all who had the pleasure of talking to him. I know the CBE Fellows and the Wealth Management Club were extremely grateful for his time!” During his Lunchtime Learning presentation, “The Price of Prosperity – Unraveling the Discipline Behind Building Wealth from any Socioeconomic Background,” McLeod offered these 10 Tips for Success:

    1. Create a budget.
    2. Buy the cheapest house in the nicest neighborhood that you can afford.
    3. Build a flexibility fund. (Other financial planners call this an “emergency fund”, but Devone suggests that you have the “flexibility” mindset)
    4. Be sure to invest in the max company match level in your 401K – but don’t let that be your only investment.
    5. Start a Roth IRA as a tax diversification strategy.
    6. Social media isn’t real – don’t compare yourself to others, they may not be as successful as their feed indicates.
    7. You can’t beat the market – many have tried, but generally fail.  Invest instead in ETFs (exchange-traded funds)  and mutual funds.
    8. Learn to say no.
    9. Don’t get divorced! (It’s expensive)
    10. Saving should be a little uncomfortable, but worthwhile.

    As part of his tenure as Executive in Residence, Devone met with faculty and students, visited classes and met with the Wealth Management Club.

    Devone Mcleod ’13

    Devone McLeod, CFP® serves as the 1st Vice President and Financial Advisor at Wealth Enhancement Group.  Devone strives to help families achieve their retirement goals by creating custom strategies designed to avoid costly mistakes, fund lifestyle goals, and eliminate financial worries.

    A 2013 graduate of Allegheny College, Devone majored in Economics with a minor in Black Studies.  He is an Alden Scholar and played basketball while at Allegheny.  He went on to earn his MS in Taxation at Villanova University, and his MBA at Saint Peter’s University. He has served on the Center for Business and Economics Board of Visitors since 2018 and currently serves as the Vice Chair.

    The Executive in Residence program

    The Executive in Residence program is a co-curricular activity sponsored by the Allegheny College Bruce R. Thompson Center for Business and Economics. The event is designed to connect Allegheny students and faculty with prominent business executives who spend several days on the Allegheny campus speaking about their life experiences in business, paths to success and lessons learned.

    The Bruce R. Thompson Center for Business and Economics (CBE) prepares Allegheny College students to succeed in a diverse, global economy.