How do you put a price on something that’s priceless?
I’ve been fortunate that my mom, now in her 90s, is still going strong.
Naturally, she’s moving a bit slower and occasionally has to look high and low for something she was using just a minute ago. But in the big picture, she has a pretty good grasp of everything, including her financial situation.
When it came to household finances, my wife always made sure the bills were paid on time and that our sons had everything they needed for school. Not just academics, but sports and all of their extracurricular activities. As the boys got older, she was always on top of their college-related expenses as well.
In our household, I may have known what bills needed to be paid and when tuition was due. But it was my wife who had a grasp on which son needed what and by when. She also knew where to get everything and usually got it at the best price.
Fast forward to today. The boys are now married, and my wife no longer has the pressure of son-related needs and deadlines. But now she has a different involvement. Now she has the luxury of utilizing her many talents to dote on our grandchildren.
To be honest, when it comes to the grandkids, I’m just as excited as my wife when it comes to giving presents. She, of course, finds the perfect items while I typically wind up depositing a few dollars into their college savings.
As with so many families, the last year has been unsettling. The elderly have been isolated because of COVID-19, and as grandparents we haven’t been able to see our little loved ones up close and personal without having to wear masks. It’s been a challenge for everyone, but it’s been especially difficult to be a mother or grandmother.
I don’t want to stereotype anyone’s role because I understand everyone has different backgrounds and experiences. But every May I see the words “Mother’s Day” on my calendar. I’ll be the first to admit life’s journey would have been significantly different without my parents establishing the parental structure and my mom making certain I didn’t stray from the right path.
I can’t imagine how my sons would have turned out without the guidance of my wife. It was she who set the tone for the proper way to raise them.
Over the years, numerous studies have been conducted attempting to put a price tag on motherhood. Some may feel the number is important, but I find it difficult to put a dollar value on something that’s done from the heart. There are too many intangibles, and how can you possibly attach a number to something intangible?
I recently experienced an example right in my office. One of the members of our client services team announced that her son had just received a doctorate degree. You cannot put a price on the way her pride and smile just glowed.
From a financial perspective, a good mother is priceless. You can spend all the money in the world on your children, but without the guiding hand of a good mom, it’s money down the drain.
So today, to my mother and wife and to every mother and grandmother out there, I wish you all a Happy Mother’s Day.
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Do you know someone who would like to meet with a financial advisor?
Ken Morris 248.952.1744
E-mail your questions to kenmorris@lifetimeplanning.com
Ken is a registered representative of LPL Financial. Securities and financial planning offered through LPL, a Registered Investment Advisor, member FINRA/SIPC. Ken is Vice-President of the Society for Lifetime Planning in Troy. All opinions expressed are those of Ken Morris. LPL and Society for Lifetime Planning are independent companies. Investing involves risk including loss of principal. No strategy assures success or protects against loss.
