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Meet Daniel Orfin: Helping People Plan for their Futures

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Dan Orfin

As the Founder and President of Orfin & Associates, Dan Orfin specializes in helping clients feel confident in planning for their future. Born and raised in Metro Detroit, Dan spent his early years in Sterling Heights before later moving to Rochester. Having grown up with two brothers and a sister, Dan’s parents always taught him the value of a dollar and emphasized that nothing in life comes for free. Instilling the notion that if you want something, you have to work hard for it, he began working at a very young age. Based on the belief that success is the result of pushing through a series of failures, Dan Orfin founded Orfin & Associates in 2000 to help clients protect their assets and life needs. Dan Orfin is very proud to be an Approved Member of the Better Business Bureau, the National Ethics Society and the National Association of Insurance & Financial Advisors, and believes that honesty, integrity, and truth are more important than anything.

What problem do Orfin & Associates solve for clients?

Overall, roughly 71 percent of American’s are ‘adequately’ prepared for retirement. Currently, the statistic is that 64% of Americans will retire. This is a problem. Given present-day circumstances, where 69% of people have less than $1,000 in savings for emergencies, we have to find sustainable financial solutions for clients. We work with clients to plan, manage, and execute on retirement plans to provide people with a glimpse of hope and security for their future. You want to be prepared ahead of any emergency, and this is what we are here to help clients do.

What have you learned through founding your business?

I have learned that my real passion is helping people. Insurance and retirement plans are my conduits for helping people with the things that matter most to them: family, security, and planning for their future. We all have a responsibility to help others through the skills we have or are currently developing. For me, it is helping customers achieve their long term financial objectives. Hearing feedback from clients, like ‘I never thought I would be able to save for my retirement like I am now,’ is the greatest reward, keeping both my head and my heart in the game.

What is one lesson you learned and never forgot?

 My parents did an excellent job instilling the value of hard work in me at a very young age, and that has been a significant motivator in everything I do. Nothing in life comes easy, and when you feel the pain of adversity, you just need to keep going. If you think about any high achiever, whether it is Kobe Bryant, Richard Branson, or Elon Musk, every single one of them works (or worked) harder, longer, and smarter than their peers. Achieving greatness for ourselves, our communities, and our loved ones cannot be done without sacrifice, and I am extremely grateful for what my parents taught me.

What was your first job, and what did you learn from it?

 Like many Americans, my first job was delivering newspapers. Aside from the regimented structure of delivering newspapers, it was the feeling of being connected to a service that people relied on that stuck with me. Of course, this was during a time where print media was a primary resource for news, so people saw it as an essential service. For me, my business, and my clients, saving for retirement is extremely important, and connected to the things that matter most. What I learned is that you have to have a connection with what you do, and be able to see the good it does for the community you serve. This is what drives and motivates me to get up every morning with a smile on my face.

Why should people be saving for retirement?

 I can’t stress enough how important it is to save for your retirement. Everyone will eventually reach a point where they are no longer able to work in their profession, either physically or mentally. Whether you love what you do or not, these limitations exist for everyone, and no one has any way of knowing when or how that will happen. Saving for your own retirement alleviates the burden on your future self, your children, and grandchildren. It gives you peace of mind that is priceless. It gives you the option to spend your retirement relaxing, spending time with family, or whatever your priorities in life are.

 When should people start saving for retirement?

 As soon as possible. Some people might tell you that starting to save for your retirement on your first job may be too soon, but I don’t think so. Whether you are putting away $5 or $20 dollars every paycheque, this money will compound and grow immensely by the time you retire. The sooner you begin saving, the more time your money has to grow.

Why did you start the Dan Orfin Scholarship?

 I was very lucky to grow up with opportunities, but I recognize that many do not. I wanted to start a Scholarship Program (Dan Orfin Scholarship) to cultivate positive change and help out those in need. Not everyone who is eager to further their education has the financial means to do so, and that is who this fund was created for. Ambition and motivation should never be dampened out by a lack of financial resources.

What advice would you give those who feel uncertainty during COVID-19?

 It is difficult to say because everyone is dealing with such unique circumstances. My only advice is to keep an open mind, an open heart, and look for opportunities in this time of adversity. Of course, for younger people, I would suggest applying for the Dan Orfin Scholarship—as it might provide you with some additional support in these trying times. For everyone else, try to stay connected to loved ones, find the silver lining, and be open-minded to new ways of working.

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