Grandparents Day is a day which celebrates the love and support given by grandparents to their grandchildren.
The wisest man in the world King Solomon once wrote, “a good person leaves an inheritance to his/her children’s children”. Many hear the word inheritance and think it’s about leaving a nest egg. Another type of inheritance may be helping your grandkids learn healthy values and good traits. In other words, sharing with them, a deeper understanding of life from your perspective and filling them with long lasting values. Grandchildren need your time, stories, and wisdom to help them develop into respectful, confident and giving individuals. This is the kind of legacy which will transcend generations.
The Importance of Family
One of the key values you may want to impart to your grandchildren is how important it is to be a close family. This automatically encourages the teaching of other values like respect and honesty. They see what is important in your life and how you treat others. They observe you in your relationships with your spouse and/or friends. Be conscious of what they are seeing. Set good examples for those children who learn by modeling.
Establishing strong bonds with family is a good way to teach the grandchildren about money, politics, gender and religion; those subjects that may not come up at home. Be a grandparent who encourages their grandchildren to feel safe talking about these subjects, while you listen and not judge. They can learn from you how to navigate conflict, overlook flaws, and love others for who they are. The greater the emotional support grandparents and grandchildren receive from one another, the better their mental and physical health.
Want to have some fun with your grandkids? Make an effort to attend Little League games, organize family dinners, go on museum outings, take walks in the park, or just call and talk. This shows your grandchildren that other people besides their parents can truly love them and you are teaching them that “You Have Their Back!!” Also, if your relationship is not what you would like it to be, remember that everyday is a new opportunity to change things.
Financial Literacy
If you’re not into the lovey, dovey family stuff, maybe you want to share something practical with your grandchildren like the basics of financial literacy. Lessons can be age-based and here is a guide to get you started. At ages 4-7, children can be taught about different currencies, saving and spending. At ages 8-10, children are able to learn the difference between wants and needs. They understand buying decisions and can take in the basics of goals and budgeting. As your grandchildren become pre-teens, earning money starts to interest them along with using digital money software. Using software allows for the introduction to investing. And don’t forget about discussing charitable giving. Teens are ready for saving, investing, borrowing and more advanced digital financial software. Some might be ready to create a small business. The possibilities to share your wisdom and support are endless. The financial literacy you create is also endless.
History
Boomer grandparents have experienced a history unlike any other generation. The 60’s brought the assassinations of John F. Kennedy and Martin Luther King, strained relations between Russia and the USA during The Cold War, and the first man stepped foot on the moon. There was Peace and Love, Woodstock, and The Vietnam War stretching into the 70’s. Technological innovation and fiber optics took hold and then AIDS became a major health concern in the 80’s. CD’s were paying an unbelievable 15% interest! The Berlin Wall tumbled down, and the World Wide Web changed how the world reads, relates, communicates and shops. Sept 11, 2001 devastated and re-united the USA. Lending a hand to others in time of need, is what got this generation back on track. There was a new level of patriotism. Our first African American President, Barack Obama was elected and then Donald Trump and Joe Biden. We continue to be concerned by the pandemic and the incredible turmoil in the USA and throughout the world. Nevertheless, the stock market is at an all time high.
Surely, there’s enough here for grandparents to discuss and tell their stories for many years! These are stories your grandchildren can only hear from you. Sharing personal experiences from this historic period gives a gift and tradition which will be passed to future generations. Your legacy may come in a variety of ways and your grandchildren will be very grateful.
On this Grandparents Day, may you reflect upon the lessons you may have learned from your grandparents. And then think “How Would I Like to Be Remembered?” Roger Cowen has been a Grandparent for more than 10 years and loves every moment. So if you want to talk about Grandparenting, Woodstock, history or retirement planning, call Roger. “Roger has Your Back!!” Roger Cowen’s 43+ years of expertise as a trusted fiduciary can guide you into leaving a strong legacy, whichever type you chose, for your children’s children.
Connor Rosenberger
connorctag@gmail.com
As Cowen Tax Advisory Group’s Digital Content Marketing Specialist, Connor provides in-house copywriting and manages the company’s electronic records system, email marketing, and blog.
