Memories and legacy

Published on November 25, 2020 by Dan Haylett Category: News

I’ve recently stumbled upon a show called The Repair Shop and admit I’ve become hooked!

The basis of the show is that several highly skilled craftspeople take in old items of huge sentimental value from the public and repair them back to, or as close to, their original state.

The stories of these items, and the reactions of their owners when they come back days after dropping off the old and batted pieces to see them restored to their original beauty, are incredibly moving to say the least.

The emotions that arise when these people see their pieces restored are incredible. They talk about the amazing memories that come flooding back and how their parents or grandparents would love to see that the grandfather clock or simple child’s toy are still providing joy all these years later.

Creating lifelong memories

The last episode I saw really got me thinking about memories and legacy and how we as financial planners help create this for our clients and their families.

A lady in her 90s brought in an accordion that her father used to play for her when she was a child. It had certainly seen better days. However, the wonderful craftspeople at The Repair Shop not only managed to restore it back to its original glory but, when she came to pick it up, played the song that her father used to play.

You could see the pure joy of the wonderful memories that this conjured up for her, transporting her back more than 80 years. She talked about how happy she was that this was now going to be passed down to her grandchildren and great-grandchildren, so that they could enjoy this wonderful legacy of such a happy time for her.

Our money should do the same. It should allow us to create lifelong memories that we look back on with joy. We should want our money to be able to leave a legacy that means we can help our family, friends, or causes close to our heart when we are no longer here.

Getting the best return on life

Great financial planning is so much more than investments and pensions. It is about creating plans, so you get the best return on life. It is about distilling why money is important to you and how you want to use it to make the most of your time that is left.

But most importantly, it is about creating amazing lifelong memories and leaving a legacy that ensures your impact can be felt for future generations.

And to see this happen with my clients is amazing! I’ve recently started working with a couple that are in their late 50s and planning in detail the legacy they want to leave.

They want to set up a charitable foundation to ensure their money goes to causes close their hearts. In addition, they want to gift money to their three daughters over the next few years to be able to help with a few key life goals such as education, homes and cars. Meanwhile, the couple themselves have plans to travel the world to watch cricket.

Creating memories and leaving a legacy were their main two objectives. Helping them do this makes me feel like a craftsman on The Repair Shop, unveiling the reconditioned, pristine grandfather clock for them to admire, reminisce and feel joyful about.

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