McBeath Financial - July 2020


Financial Horizons Your Connection for Wealth, Lifestyle & Legacy


I Wish I Could Ask My Dad Offering the Practical Financial Advice You Need

F ather’s Day just passed, and we are in the midst of My summer vacations were always spent at a lake in northern Minnesota with my family. Wonderful memories were created, and I fondly remember all the lessons from my dad. He taught me how to captain a boat, tackle DIY projects, and wrap my head around life. I’ve always had great respect for his wisdom and knowledge, whether it was how to fix something or how to cope with the hand life had dealt me. summer. It’s a time of year that will always remind me of my father, the memories we made on summer vacations, and the time we shared together. Since his passing, there have been so many times when I’ve needed answers to my questions, and I’ve immediately thought, “I wish I could ask Dad.” I’m forever grateful for the many practical things Dad passed on to me through the years. He continues to live in my heart, and I strive to practice the wisdom he passed onto me. I’m sure anyone who has lost a parent has felt this way. We feel the loss in a complex system of emotional and practical connections, and as a result, it’s difficult to know where to find help. Personally, I find myself turning to YouTube a lot when it comes to DIY projects. For other things, YouTube will never be a replacement for the answers I would get from my dad. Our relationship gave those interactions depth. I know some people received financial guidance from their parents, and it makes sense to do so. Who didn’t consult their mom or dad about their first car or home? When it comes to advice, Google isn’t going to be an adequate substitute. Parents impart so much to their children through their actions, teachings, and continued support. Financial lessons taught at an early age can set the direction for kids and are so important for raising financially literate and confident adults. (I’ve even dedicated an article in the newsletter to this very idea. Check it out on Page 2.) But we never fully grow out of our need for advice. Sometimes, later in life, we need someone who can help us find the answers to many of life’s big decisions, especially when it comes to financial

moves. When you no longer have your parents around to help, who do you turn to when you’re wondering if you should consider retiring or if you’re prepared enough for what the future might bring? You may wonder about keeping your mortgage, what your taxes will look like when you retire, and what insurance options you should consider.

For some, parents are great confidants for these answers, but

others may no longer have a parent they can turn to. That’s where I come in. I make it

my mission to get to know my clients, understand their values, and offer a guiding hand like any trusted figure in their lives would. Now, I’m no substitute for a beloved family member, but I am qualified to answer some of the common burning questions you may have. And unlike answers you might find on the internet, I know my clients and can answer your questions with your background, values, and needs in mind. In fact, one of the many benefits of the financial planning process is this very relationship we build together. My father helped shape me into the person I am today, and I believe his guidance influenced my desire to offer that same level of nurture for my clients. I may not be a replacement for a father, mother, sibling, or other trusted relative, but I’m proud to offer the familiarity of the supportive hand we all need and deserve.

—Krista McBeath

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