Family Legacy: Writing your life story
Let’s face it: Your financial assets do not tell your life story. It’s great if you are able to leave something to your heirs someday, but be sure to include your unique story to fill in the blanks for the generations that follow.
Like most everyone reading this, I have numerous photos handed down to me of long-deceased relatives whom I can’t identify. Some are wonderful pictures of 30 individuals seated at a Thanksgiving table along with the proud head of the household standing over the main course with carving knife in hand. It tells a story that I am begging to know more about. Unfortunately, I recognize a few faces and a name or two noted on the back of the photo. That’s about it. I know nothing about their life’s journey.
I love history and this is the reason for today’s column. All of us have learned so much during our lifetimes. Take time to write about your life and your values for your future generations. Your story doesn’t have to be fancy or even well written. Start with the beginning of your life and describe your parents, grandparents, aunts, uncles and family friends who stood out to you in your childhood. What was your house like? What did you eat? How were the holidays spent? What pets did you adore? What was the first car that you drove? Tell us about the school you attended and about some of the life changing moments that set the stage for your life’s biggest accomplishments and occasional failures.
All of these insights leave an impression with your next of kin. Make it fun! Be sure to tell your family what you were doing during famous events in history and how they affected you. Who was your biggest influence? What was the hardest decision you ever made — and how did the decision turn out? Talk about your favorite teacher and your mentors along life’s journey.
If you have taken the time to create a will, then nothing should stop you from passing down your values and your hopes for any assets that you’re are leaving to loved ones. Tell your story of struggle, regrets, and successes. If you married a fantastic spouse and just celebrated your 50th anniversary, let future generations know what qualities you looked for and how your nurtured and grew the relationship. If you got divorced, what lessons did you learn from it?
We have all heard the saying, “success leaves clues.” Speak of your successes and failures as a means of providing perspective to those who will ride on their ancestor’s coattails in the century ahead.
Lastly, if you are reading this and have older relatives you cherish: Break out a video camera and ask some of these same questions. You won’t regret it! I find as I get older that I miss my parents’ voices and wish I had done this more often.
For podcast fans, please tune in to our fun financial podcast “unfettered wealth” from your favorite source. You can also pull up our podcasts on YouTube. Enjoy!
Eric Tashlein is a Certified Financial Planner professional, founder and financial advisor at Connecticut Capital Management Group, LLC, 2 Schooner Lane, Suite 1-12, in Milford. He can be reached at 203-877-1520 or through www.connecticutcapital.com. This is for informational purposes only and should not be construed as personalized investment advice or legal/tax advice. Please consult your advisor/attorney/tax advisor. Investment Advisor Representative, Connecticut Capital Management Group, LLC, a Registered Investment Advisor. Connecticut Capital Management Group, LLC and Connecticut Benefits Group, LLC are not affiliated.