“Some people buy teddy bears, but this is something that will make a difference in his life as he grows”.
This was the message from my great-grandmother roughly 42 years ago when she delivered my first birthday present. The gift was a whole life insurance policy. Grammie Gladys was a wise lady.
While we weren’t talking about the Perpetual Wealth Code™ (by name) back then, the principle still existed. Save 10% of what you earn and don’t spend more than the rest of your check. Pretty simple. The connection to Grammie Gladys is that her gift – a whole life insurance policy – is the gold standard for where to place that 10%. As the master of the back office of Granddad Jim’s growing business, she had a good idea how to save and use a dollar more than once.
The legacy that Grammie Gladys has built now extends to another generation. Her great-great-grandson turns 11 years old today (happy birthday, Nolan!) and he has been the proud owner of his own life insurance policy for several years.
Money management and wealth creation is what we teach our clients and this 42-year-old story is a nice anecdote of how to both pass on what you have learned and what you have earned. There will certainly be a post or two in the future about exactly what we have done with these gifts, but there is a second part to this story.
Shortly after the policies were delivered, on both Nolan and myself, medical conditions were discovered that would change how the insurance companies thought of us. I was diagnosed as a Type I diabetic, and Nolan was found to have a heart condition with the shorthand name of SVT. Had these conditions appeared prior to being insured, we likely would not have been insured at all. This has been a tremendous blessing to both Nolan and me, and Grammie Gladys was spot on when she said, “this will make a difference in his life as he grows.”
The choices of gifts for children (great-great grand, or otherwise) are nearly limitless, but I would love to talk with you about how to make a difference in your loved-one’s life as they grow. Please reach out with questions or comment below.
Love you, Grammie.
She was a wise lady.Someone who left an indelible impression on my life.Even though she has been gone forty years I think of her often.
I remember this very well. You are correct, she was a wise lady and left us way to early in her life. nlb
Tom, I remember your great grandmother and great grandfather well. They were the only aunt and uncle I every really knew. They were very giving and caring and I have found memories of things they did for me. Grammie’s Gift to you was and is awesome.