| | | Happy New Year to everyone! Had my sister over for Christmas, and went as well as could be expected.
A few questions over and over, but she mostly just sat back and enjoyed my kids and grandkids. Shortly
after everyone cleared out, she brought up that it was probably time to leave, and since the melt down last
time, I took her up on it. Disappointing seeing so many people at the home that weren't going anywhere
for Christmas.
Since I am in a lull with the elder lawyer until after the first of the year, and always wanting to leave a letter
for the grandkids on the accounts my wife and I started for them, decided I would ask AI some questions,
copy and paste the good parts, and ask for a consolidated letter. May be finished, not sure. One to the
current 12 year old:
Max — Please Read This First If you are reading this, this account is now yours. Before you change anything, you should understand why it exists.
This account was started when you were very young because mami and papi loved you deeply and wanted to give you something rare: time. Time is the greatest financial advantage there is, and almost no one gets it early.
This money was invested for long-term growth, not quick wins, safety, or excitement. Over the years it likely went through market crashes, recessions, and scary headlines. That was expected. Those moments are not failures — they are the cost of long-term success.
You may feel tempted to cash it out, play it safe, chase trends, or use it for something that feels important right now. Before you do, understand this:
If you leave this money invested and let it compound, it can change your life — not next year, but decades from now. What matters most is not intelligence, timing, or luck. It is patience and discipline.
This account is not a replacement for work or ambition. You should build your own career and income. This money is a foundation, not a shortcut.
What This Money Is — and Is Not — For This money is not for things that disappear or wear out, like cars, trips, or lifestyle upgrades. Those are fine to enjoy with your own earnings, but they do not grow.
A dollar spent when you are young is not just a dollar gone — it is many future dollars that never get the chance to exist.
This account exists to build your future, not decorate your present.
Good uses include:
- Education or training that increases earning power
- Investing in things that produce income
- Modest housing that builds equity
- Long-term investing
- True emergencies only
Before using this money, ask:
“Will this still matter to me in 10 years?”
If not, it probably doesn’t belong here.
How This Account Should Help You When you earn income, your priority should be to open and fund a Roth IRA every year.
The idea is simple:
- Your paycheck pays for life and enjoyment
- This account helps fund your Roth IRA
- The Roth grows tax-free for decades
This lets you live well now without sacrificing your future.
Simple Rules- Don’t sell because markets fall
- Don’t trade frequently
- Don’t chase hot ideas
- When unsure, do less — not more
Markets recover over time — but only for those who stay invested.
The Bottom Line You can always buy things later.
You can never buy back time.
Protect this account.
Protect your future.
And take care of yourself.
— With love,
Mami & Papi |
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