Financial planning is more than just organizing assets and preparing for your future.
At Modern Wealth, we view finance as a way to show the most important people in your life—whether that’s a spouse, children, parents, or even business partners— that you care and that you’re thinking about them now and for the future.
It started with a love letter, that’s where our founder Jennifer Lee’s story begins.
Love letters can come in many forms. For my family, they came as important discussions, both by notes on a yellow legal pad and in person.
Growing up, my siblings and I were met with regular messages—many times assigned chores—on our Dad’s beloved yellow legal pads. And when he was diagnosed with an aggressive brain tumor, it was on a yellow legal pad that he wrote down a plan for what we were to do when he passed.
It covered everything from the standard requests to sweet and personal touches—for example, his request that “When you go out to dinner, your mother is never to pull out her Visa, never,” still has me jumping for the bill to this day, and I will be forever grateful to have this letter as a cherished memory of him.
Imagine yourself in this situation.
What would the important people in your life need to know, what do you want to communicate to them? Where are your passwords? How do you feel about those specific people? What do they need to know about how to manage finances? How much life insurance do you have and with whom? Who are your trusted advisors and friends that can lend a hand? Who should receive your jewelry and most precious possessions and what do they signify to you? Why do you want this specific person to receive them? Where did you hide jewelry or cash?
All of this information is in your head – so speak, write, get it out! Talk to the people you care about, discuss the difficult things. We never know when they will no longer be of this earth.
I’m sharing my story as a way to demonstrate the significance of writing and communicating such a love letter, and we at Modern Wealth encourage you to communicate to those you love and to those who depend on you.
Have you written your love letter? Reach out today, and we can talk about what matters most to you—and how you can protect it.