Feel Bad About Throwing Away Photos?
4 Rules for Guilt-Free Photo Downsizing
If you’ve reached a point in your life where you’ve started to downsize, then you’ve likely grappled with the difficult task of getting rid of photos. After decades of life, how are you supposed to choose which memories are important enough to keep and which aren’t? These four rules can help make this daunting task easier.
places you’ve been to are far less special than pictures of the people you love.
RULE NO. 2: TELL A STORY When you look at a photo, does it make you want to tell a story about the people or places in the image? Could you share plenty of stories about riding around in Dad’s old truck or about how funny your best friend from college was? Keep those photos. Pictures of people whose names you can’t remember or blurry photos you can’t make out can all go. RULE NO. 3: EDIT WELL If you have a lot of photos from a specific event or part of your life, think about how long each “chapter” of your life story would be. How much time would you spend writing about your cousin’s wedding or high school prom? If a certain event didn’t have that much meaning in your life, why dedicate pages and pages of a photo album to it? RULE NO. 4: THROW PHOTOS AWAY If a photo isn’t important enough to put in an album or frame on the wall, then it doesn’t need to stick around. Don’t put them in a box you’ll have to sort through later. Let the rejects go.
RULE NO. 1: CUT SCENIC VIEWS You don’t need dozens of photos of that campsite you went to on vacation one summer. If a location was really meaningful, like the beach at your honeymoon, then
keep a few, but pictures of the
After all that hard work, treat yourself to a photo album shopping spree so you can start organizing the meaningful photos you have left.
Multigenerational Wealth Planning From teaching honesty to nutrition, there are many ways parents and grandparents can shape future generations. Yet financial literacy is a key lesson that’s often overlooked. According to a study by the Program for International Student Assessment, as of 2017, approximately 1 in 5 teens lacks basic financial literacy. And that statistic doesn’t improve much with adults. The Financial Educators Council found that the national average on financial literacy tests is 63% among adults. And Instilling Good Habits in Future Generations
The next part of the conversation should focus on you. Finances touch every part of our lives, and by sharing your experiences, your mistakes, and the lessons you’ve learned, you can help your children avoid those same missteps. If you’re comfortable doing so, then share some of your past financial mistakes and talk about what you would have done differently today. And when your child does mess up, don’t fix the problem. Support them, use it as a teaching tool, and remind them that they are not alone. Finally, share the details of your long-term plan, how this is better preparing you for what’s ahead, and why these values are important. By simply showing your child what you have planned for — or possibly inviting them to a conversation with your financial planner — you are encouraging them to also consider their future.
Despite these sobering statistics, we believe it’s never too late to teach your children about preparing for their future — no matter how old they are. Before launching into your first lecture, though, gauge where your loved ones are on their financial journeys. Your children may be well-versed in savings and mortgages, but they may struggle with strategic long-term retirement plans. They may not need a basic lesson on credit, but they may be among the 22% of Americans who have less than $5,000 in their retirement accounts, according to a 2019 report. That could be worrisome for their future. However, knowing where they are allows you to approach the conversation with understanding while leveraging your knowledge in the most appropriate way. Pro Tip: Get an idea of your family’s financial literacy with a free assessment at FinanicalEducatorsCouncil.org.
At McBeath Financial Group, we value financial literacy education at any age. We can facilitate multigenerational conversations about long-range financial planning, tax strategies, and personal goals. If your children would like help planning for their future, then direct them to us.
2 McBeathFinancialGroup.com
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