Leaving a legacy?
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At the ripe old age of twenty-seven, I was asked about my legacy.
Does it begin with assets?
Every month, before the new month, begins a budget is made. On purpose, on paper, and just like any forming habit, it takes time. Time to commit, time to adjust, and time to discipline. The first few months are the toughest to develop a working budget. Why budget?
Every month money comes in and magically leaves the account from which it entered. Can the owner of that account with certainty give account to where it all goes? Can you? How much is spent weekly on gas, food, grocery, clothing, etc? Investing is important, but how much should be put away for retirement and other investments to build wealth? How much should be saved each week and or month to reach those goals? Without a budget, answers to these questions are more of an educated guess or just a guess.
What you leave behind is a decision.
On purpose, on paper, before the end of your life. Like a budget, like achieving goals, before the results are the plans.
Plans like goals are known, are purposeful, and take time. Have you heard the saying, Where you invest your time and money is where lies your priorities? Or some version of that saying? With being debt free for the last four years, losing my job in the last year, and recovering my saving account. I've started to think about the future and my legacy. What do I want it to be ?
I am a huge Dave Ramsey fan and will be seeing him live in a couple of months. What I have learned from him is to live like no one else so you can live like no one else. That means not having a car payment, or borrowing money, or living outside of my means. Easier said than done, and yet I wonder without a purposeful budget how one achieves a meaningful legacy? Without getting into what is meaningful to each individual, I wanted to ask if you thought about the legacy you are preparing to leave.
Failure to prepare to prepare to fail.
I drafted my vision board/goals for the new year and decided to prepare for it. On purpose, on paper, with a plan. Every goal has a purpose. Every action is working toward a result. For me, the third month is the toughest to push through. I lose steem after that and the goal is to push through it.
What is your legacy, do you have a budget on paper and on purpose?
Thanks for reading, upvoting, and commenting!
Love always,
Jeremiah 29:11 New International Version (NIV)
For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future.
Though I agree with all you write concerning money, is money left being one's legacy? I'd consider that a poor legacy, even if the amount is high. I consider legacy to be one's actions, one's works, things like that. For example, Bill Gate's legacy is that he helped bring personal computers to the common man, that he founded Microsoft, and that he has helped people in Africa. Money can aid in leaving a legacy, but it also isn't required. Look at Mother Teresa.
But anyway, semantics aside, I agree with you about budget. Seems easy in theory, but actually planning it and following it is always a challenge, but a good one.
I agree with you comment. A legacy is more about how people remember you or act in respect to you. What you leave them is temporary compared to the memories. In regards to, being on a budget, are you on one? Do you use pen and paper, an app?
Of course. With kids, a house and car payment, and other expenses, I'd be crazy not to have one. I've experimented with various apps over the years, but currently I just a simple combination of pen and paper and Numbers (Mac Excel-clone). I track things day to day in my bullet journal, then transfer it to my spreadsheet weekly. It's much simpler than many solutions out there, but works well for me.
Assets dwindle over time. As one generation gives to the next it becomes smaller and smaller till there is nothing left. Along with inflation having effects on it. I had a great great great grandfather (however many “greats” there where) that was an inventor. When my grandmother passed I received a couple hundred dollar check and apparently it was the last of this great decedent’s estate. At least what I’ve been told. Back then that would have been a lot of money. In today’s money that just a couple of video games. I’m supposed to save 10% for the next generation. Maybe they will be able to buy a candy bar with it? Expect I’m the end of the line at this time. While I could have invested the bulk of it and hoped to leave the next generation with something that would not been very fun other than some story where most of the detail has been lost over the generations. It also would have had to sit in investment account for rest of my life to be anything for the next generation. It was spent and some game reviews where written from it along with good times to be had.
Legacy seems to be kindness and the memories of that person along with a couple of photos. Best print those photos out on good stock paper hate for them to be lost due to format type or bit rot! There is a photo book somewhere with a few old photos with names written on the back. If you don’t write and leave your own story then all that is left is government paperwork and some photos!
I used to print pictures and write the date, the event, and the names of the those in the pictures. Long gone are the days of printing photographs. At least in the quantity we used too. On the other hand, I disagree with you thoughts on financial legacy. Regardless of inflation, some inherit a small amount and grow it, other inherit a small amount and don't invest, and others continue to leave behind more than they received.
A thoughtful post thank you. I have always budgeted but my fortune always depends on what income I deride from my daily life. I don't consider money a legacy. My parents gave us love in abundance, care and support. Both my two sisters and I thrived on it and made our own way in the world. Legacy is important only in the attitudes you develop and what you leave on this planet for others. Care for people and the environment and yes, still budget. If I hear from people that I inspire them, then I'm on the right track. Still working at 77.
Wow, you are still working at the young age of 77? That is a blessing to be able to do so. If you could go back in time and talk to yourself at 20 years old, what would you say? What advice would you give? Do you think you would listen?
Dear cubbyelizabeth, advice to myself 20 years ago would probably have gone unheeded! However, I hope that what I learned in the interim made me a better person. Celebrating the Armistice day celebration ending WW1 where so many were lost. Have happy holidays later on!
A great post thanks . My idea of a great legacy to leave would be to raise spiritual awareness in the people I connect with to be able to cope in all situations life presents. Nothing is more important in my opinion. 🌴🦋💛🌈🍀
Hey Sally! Thanks for stopping by my post today. I will say, I haven't heard of spiritual awareness. Is it much different from awareness in its general term?
The best legacy you can leave, is that with your life career you can inspire others.
I agree a legacy of inspiring others will last much longer than finances. What kind of legacy do you want to be remembered for?
I would like to be remembered as a kind, respectful, fair person, focused on their goals, persistent and happy. Every day I propose to treat others well. At work, for example, I am used to dealing with workers and office staff, and believe me, as a human resources coordinator in a construction company, I'd always have the best disposition to treat people.
But the most important thing I want to be remembered for, is to be a good father. I have a 3-year-old girl who is teaching me to be patient, understanding, loveful and to be a child again. I want my daughter to remember me as her hero.
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