From Survival to Intention: Lessons from the First Minimum Wage Law

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It's Thursday, and this is the One of a Kind Financial Show Daily with your host, Mike Milligan. Well, what if financial planning was never meant to be about numbers first? We look back at the first minimum wage law in the United States history and explore what it teaches us about dignity, stability, and building a financial life that actually supports The way you want to live. That was a segment, and the segment that you're getting ready to listen to was done on the One of a Kind Financial Show, where Gary and I went back and looked at this monumental time that happened 111 years ago in January of 1915. See, we always think that minimum wage has been around forever, but my gosh, it hasn't been. With our country turning 250 years old, In 2026, minimum wage has been here just a little bit over 40% of the time our country has been around. Enjoy this segment, and we look forward to seeing you very soon. Just remember, you are one of a kind.

This weekend marks an important moment in American history. On January 25th, 1915, Massachusetts became the first state to pass a minimum wage law. And that might not sound like a policy decision. This moment really wasn't about numbers. It's about, you know, people, about dignity, about the belief That work should support a life, not just survival. I mean, before that, who knows what people were making?

Right. It was all negotiated.

And what a lot of people don't realize about what happened before 1915, we always talk about the Great Depression.

But many people don't know in the US, we had another depression-like event happen in the late 1890s. It was a tragic event during that time, too. And so governments really started getting involved around the early 1900s at the national level. But like the first state— but how the national side got involved is how states started doing things first. And Massachusetts was bold. At One Oak Financial, the idea resonates deeply with how we approach financial planning. So having dignity, And a belief that work should support a life is how we think about financial planning. That law that was passed came from a recognition that people deserve stability, not just income. That same idea applies to financial planning. It's not about how much money you have. It's about whether or not your money supports the life you want to live.

Yeah. And if we look back in the early 1900s, that's when the Industrial Revolution really started and it was really booming. Many workers in You know, they were getting wages that couldn't sustain their basic living expenses. Families were stretched thin. You know, stress was high. Lawmakers were asked a fundamental question: Is the system serving the people within it? And the question that still matters today.

It does. And what's interesting is that financial stress hasn't disappeared. It's just changed form. Today, many people earn more than what people in past generations earned, but still feel overwhelmed, anxious, Or uncertain about their future.

And that's where financial planning becomes deeply personal, because dignity isn't just about hitting a certain net number. It's about knowing your bills are paid, your future is protected, and your family's secure, Mike.

Yeah. At One Oak, we don't start with spreadsheets. We start with conversations. We ask— we start asking questions like, why is money important to you? What does peace of mind look like to you? What keeps you up at night? What does stability mean in this season of your life? Because the goal isn't wealth for wealth's sake. It's confidence and clarity.

So you really start with conversations. You don't start with numbers, Mike. Am I right? That's where it all begins.

It's 100% the case, Gary, because if we cannot have conversations to decide, where you are from a financial literacy standpoint, from a savings standpoint, from a life goal standpoint, then it becomes about us. And at One Oak Financial, it's not about our firm, right? Our firm, the financial firms are going to come and go over the years. They're going to, Bear Stearns is gone, right? Wachovia, BB&T.

Yeah.

SunTrust, they're gone. What remains is the people. The people are the most important thing. So we have a conversation, we listen, and we listen about what brings you joy, hope in your life, and then what stresses you out at night. And when we do that, we can build a financial plan that is going to help you survive even when corporations fail.

The show is the One of a Kind Financial Show with Mike Milligan. I want you to get that one of a kind financial plan. Mike's going to talk about it again. in just a couple of minutes. And this weekend we're giving out Mike's direct line, his cell phone number. So get in touch with Mike. He will answer that line unless he's on the call with someone else. But, you know, just call back and— or he'll call you back. Leave a voicemail. 757-403-5078. 757-403-5078. Right after the show, I'm going to dial that number to see if Mike really answers. Okay, I'm gonna try it.

You might.

403-5078. You could also text the word ideas to 600-700. Of course, Mike is with Wonok Financial. Get that one-of-a-kind financial plan that Mike talks about and get yourself on the calendar, all set up with that comprehensive plan. Again, there's no cost, there's no obligation. You deserve a more confident plan to retire. Want to be stress-free, peace of mind? Starts by picking up the phone. So the first minimum wage law is about protecting people living in a constant survival mode, and financial planning today should do the same thing, People move on from survival to intention, Mike.

Exactly.

Planning is about creating margin— emotional margin, financial margin, and time margin— so you can actually live your life.

Of course, every individual situation is, is unique. So financial planning isn't just about guarantees or one-size-fits-all solutions. It's about understanding your goals, your values, and your circumstances. Then you build a strategy around that. Am I right, Mike?

Yeah, that's why working with a trusted advisor matters. Not to sell products, but not to scare you, not to provide solutions that don't solve problems, but it's to guide decisions with care and intention.

Yeah. The first minimum wage law reminds us that money should serve people, not the other way around. And when your financial plan is rooted in dignity, clarity, and care, it becomes more than a plan. It becomes a foundation All right, up against the clock, Mike. Tell us about the one-of-a-kind financial plan one more time.

That's the foundation. And the foundation is having a plan that addresses the most important thing. The foundation begins, is your budget, cash management, and debt in a good situation? Then we go to, can we control the taxes that you pay over your life? Can we create retirement income that's stable and maintainable over over the rest of your life to reduce fear and stress. We then move to investments. Like, are we investing in the right place to meet the goals you have for your life while not taking undue risk? We look at long-term care to be able to take care of you at the end of your life, because the only person you can count on to do that is the younger version of you, the version you are today. And then a legacy plan that, yes, writes wills, trusts, power of attorneys, both, and healthcare directives. But it's also about leaving the legacy behind to those who matter. So, yes, I look forward to reaching you guys or talking to you guys this weekend and really hearing your story, your purpose, so that we can build a one-of-a-kind financial plan together.

Yeah, folks, advice like this shows you how important it is to meet with a financial coach, to meet with Mike and the team. They understand the ins and outs of the financial world. Take advantage of this opportunity right now. There's no cost. There's no obligation. That number is 757-403-5078. That's Mike's direct line, his direct cell phone number, 757-403-5078. Mike is with One Oak Financial. Get yourself on the calendar, get you all set up with that comprehensive plan. You could also go to Ideas by Mike or text ideas to 600-700, I should say.

Well, that was from the One of a Kind Financial Show, and this has been the One of a Kind Financial Show Daily. Mike is an investment advisor rep with Advisory Alpha LLC. Ideas by Mike, doing business as One Oak Financial, is an education coaching financial services firm licensed in all 50 states in the United States. Ideas by Mike and Advisory Alpha LLC are unaffiliated entities of each other. Uh, this podcast is for educational purposes and content only. If you're looking to reach One Oak Financial, you could do that at www.oneoakfinancial.com. That's number oneoakfinancial.com. If not, please consult a licensed professional before, um, implemented any strategies we discuss on this podcast.

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