As promised, here is a short letter to my children with words of wisdom:
Financial:
You do not need a lot of money to be happy. Find something you enjoy doing and then you won’t mind working at it every day. Try not to get caught up wanting material things, these things won’t make you happy in the long run, they only provide short term gratification.
Make an effort to save money from each paycheck, even if it is a small amount. You never know when unexpected emergencies will arise. You need to be prepared for them. Don’t buy things on credit cards if you can’t afford to pay the card in full at the end of the month. You only need one or 2 credit cards. Avoid the trap of opening a new credit card in order to get a discount on your first purchase. The more credit cards you have the harder it is to keep track of them. The banks and mortgage companies lower your credit scores if you have too many credit cards.
Make a spreadsheet of your income and expenses each month. Look at it every so often so you can see over the course of time how much you are spending on food, rent, clothes, entertainment, etc. This is a good way to manage your expenses and help you budget for the future.
It is good to be diversified. (Don’t put all of your eggs in one basket). Savings account, mutual funds, real estate, etc. You should have money set aside for retirement each month. Especially if you want to live the life you have become accustomed to prior to retirement.
Hard work and dedication are important aspects of any job. Don’t invest in anything you don’t understand or sound too good to be true. (Get rich quick schemes).
Life/Love/Marriage:
Make Family a very important part of your life. Find the time to foster these relationships. Family is the link to your past, they are a part of the person that you will become. They are usually the ones that you can count on in good times and bad.
Marriage can be difficult and should not be entered into lightly. There must be mutual respect and kindness. Love changes as your marriage matures. It is constantly challenged by real life problems. There is no room for selfishness. Sometimes sacrifices must be made for the greater good of the relationship.
I have made a lot of mistakes in my life and you will do so also. I have looked upon these as a learning experience. It is okay to make mistakes, that is how we grow and become the person we were meant to be. When you get pushed down, pick yourself up, dust yourself off and get back in the game.
Life is complicated. When things feel like they are out of control, take some time to write down all of the good things you have and are thankful for, it will keep things in perspective. Just remember, if you think you have it bad, there is someone out there that has it worse.
Children are a gift from God. Read to them, spend time with them, have experiences with them. Help to build their character by teaching them good values. Model the behavior that you want to see (practice what you preach). Your children are your future.
Spirituality:
It is important to believe in something that is bigger than yourself. It does not have to be organized religion. Find something that brings you peace and comfort in times of need. Be kind to others, treat others with respect. Help others that are less fortunate than you are, you never know when roles will be reversed. We were all put on this earth to make the world a better place. One small act of kindness can make the difference and change things going forward. BE THE CHANGE YOU WANT TO SEE.
