The tip came from a stock newsletter he subscribed to, at a point when Apple (AAPL) had spent most of the previous decade out of favor.

"I subscribed to a stock newsletter and this guy said, hey, I think Apple's gonna make a great recovery," he says. "It's had some tough days in the 90s, but he said, put a little bit of money in Apple. So I thought, well, that's a great idea."

He let it sit. Through splits, through cycles, through decades of a career that had nothing to do with tech. Joel spent 40 years as a pastor. Now he's semi-retired in the state where he grew up.

Somewhere along that path, the small position became over a million dollars.

"And of course then the issue becomes what do you do with this?" he says. "I didn't want to sell it off and face a massive capital gains [tax]. I was uncomfortable in having that much money just in one equity."

The weight of a single position

"Having such a large position in one stock was constantly on my mind," Joel says. "What's it doing today? What are people saying it's going to do down the road? Should I get out now with some of this and just pay the capital gains and move on?"

He describes it plainly. Persistent anxiety. The kind that comes from carrying a big unresolved decision.

The issue wasn't Apple. He still believed in the company. The issue was that too much of his life sat inside one ticker, and the tax bill made the obvious solution feel punitive.

Finding exchange funds

Joel did what most people do when they hit this moment. He started reading.

"I Googled what to do with a large position in one equity and then became acquainted with the exchange fund idea," he says. "I Googled more in terms of exchange funds and looked at a few."

Getting comfortable

Joel had no prior experience with an exchange fund, and the obvious question came with it.

"I think the trust issue is important coming from not having experience with an exchange fund," he says. "I did have questions. What would happen if something bad happened to Cache and they went out of business for some reason or another."

So he did the reading.

"I did the research […] It was a new concept to me.”

But in the end, one thought settled it.

"I feel more secure with them than keeping a large position in one equity."

What changed after

"Once I made the decision to go with Cache, it's still fun to check in on the position I still maintain with Apple. I still follow the company," he says. "But yet, there's a sense of relief that, man, I'm out from under such a huge investment in this one company."

He still watches Apple. Still enjoys it. The difference is the pressure.

Then he adds: "It really did release a lot of anxiety."