Why Do You Want to Accumulate Money?

Last week, for the first time in over a year, one of my sons and I resumed having our monthly lunch at a lovely restaurant with outdoor seating.

It felt great to return to our regular routine, as if our lunch conversations had never been interrupted.

At some point my son brought up the subject of saving money. “When I was young,” I said, “I had two major reasons to save money.  First, to pay for whatever medical care my family might need.  Second, to pay for a college education for my children.”

He laughed.  “That’s exactly what my father-in-law says, and as you know, he’s from another country.”

I was delighted to learn that another member of our extended family shares the same value.

There are other reasons why you might want to save money.  When he was 18, my father held a full time position as First French Horn for the Minneapolis symphony orchestra.  He saved part of his salary so he could afford to get married.  I certainly like the result of that idea.

When I was 21 I formed a specific plan to accumulate enough money to retire at age 35.  Fourteen years later, despite achieving my financial goal, I found that I enjoyed my work so much that I continue. It’s been another 46 years so far.  I feel like the airline pilot who announced to his passengers, “Ninety-nine percent of the time you don’t need me.  But when you do need me, you really need me.” I’m glad I continue be here for so many investors through the years to help them achieve their own financial goals, and accumulate enough money to support what’s most important in their lives.

Today, all of my children are grown and able to support themselves. They handle their own money, and can pay for their own education and health care.  Now I can take delight in the delightful people they turned out to be.  Every one of them has graduated from college and is making their mark in the world.  Now it’s their turn to provide health care and a good education for children of their own.

Alan