A financial advisor I know wrote a series of posts (and even created a website) structured as letters to his son. In the letters, he communicated financial principles that he wanted to pass on.
I wanted to structure this email in a similar fashion.
Wesley,
One of the first financial principles I hope you learn to understand can be summarized in four words, “It is just money.” The first person who said this to me was the wife of my old boss. I was fresh out of college and I remember how simply profound the statement was to me.
Throughout your life you may face temptation to elevate money too high. Be continually cautious to not place your identity in money or look to it for ultimate security. Think of it is a piece of paper or a number on a screen.
Instead of money place your identity and security in Christ. Your uncle once wrote to me, “Even if you fail in every other aspect of life, may you just be content to be in a right relationship with Christ.” A right relationship with Christ is something to be fostered.
I think you will know I am not encouraging flippancy or lack of stewardship. Money is a useful tool but just be cautious to not sacrifice your integrity or serve money.
“It is just money.” This is something I have had to remind myself of. You may catch on a little quicker than me!
Love,
Dad
Interesting Article(s) or Video(s)
Kitces.com - The American Rescue Plan Act of 2021: Tax Credits, Stimulus Checks, and More That Advisors Need To Know!
This article goes into detail into the American Rescue Plan Act that Biden recently signed. There are many implications (stimulus checks, tax credits, etc.). Given that at least a couple of the provisions are based on your most recently reported income, the timing of when you file your tax return could affect what you receive.
Thank you for reading!