Claire Kest authored the Grandpa Moneybags series to introduce financial concepts, including investing, hard work, education, saving, taxes, and philanthropy, to the next generation of wealth holders. The following is a work of fiction, and resemblance to actual persons, living or dead, or actual events, is purely coincidental.
Announcement:
We at Hurlow Wealth Management Group recently heard of the passing of our beloved Grandpa Moneybags. With his daughter Katie’s permission, we share this last heartfelt letter to his grandsons. While not an essential part of an estate plan, a letter to loved ones placed with your will can communicate feelings, much better than a legal document.
A Letter To My Grandsons,
If you’re reading this letter, it means that I’m gone. There’s no need to sugarcoat it; I died. It’s ok if you feel sad, or maybe you don’t know how you feel. Anyway, I recorded the memories of our time together to give you something to help you through this next season.
My passing gift to you is an unpublished draft manuscript based on the financial lessons we discussed over the years. These will help you become a millionaire someday, so you can think of yourselves as Midwest Millionaires in the Making. But never forget, true wealth comes from inside. Let the lessons sink in and become positive habits. Keep learning and asking questions. While you can stack up a pile of money throughout your lifetime, there are a few things that you cannot earn, no matter how hard you work.
Let your wealth show through your interactions with people and the words you share. If you keep striving to become the best version of yourselves, people will be drawn to you because of the quality of your character, not the car you drive. Money is only attractive in superficial relationships; your deepest friendships will be built on the choices you make. You will experience hardships (like grief), but how you react to challenges and recover from trials builds character and makes for great storytelling.
I am so proud of the men you are becoming. You’re making good choices and working hard. Don’t worry too much about what other people think or the choices they make. Keep focusing on your own life and career until you find someone with whom you want to build a future.
As you know, I’ve left some money in 529 accounts for you, and I also set up UTMA accounts. You will have access to those when you turn 21. My financial advisors at Hurlow Wealth Management Group will take good care of you. They will probably call you on or around your 21st birthday.
Over the years, I’ve recorded memories of our experiences and the financial lessons we shared; however, I included a few things I never told you that I think you should know. I’ve titled it Financial Lessons for Midwest Millionaires in the Making. You might want to include some of your own life lessons; feel free to add them. The book can be a collaboration.
Well, Keith and Bobby, I suppose this is it. It’s been a pleasure getting to know the kind, compassionate young men you’ve become. I’ve enclosed one last $100 bill for each of you. Spend it on a good story (this one’s not for saving)!
Love Always,
Grandpa Moneybags
Author’s Note:
Thanks to everyone who sent me an email after reading a relatable Grandpa Moneybags story. I cried while penning this last letter because his character is so much a part of me. If you’ve never heard of Grandpa Moneybags, I began the 17-part blog series in the fall of 2021, shortly after joining the Hurlow Wealth Management Group. The blogs are no longer online because I’m rewriting the draft from Grandpa Moneybags’ perspective and will resubmit for publication.
I submitted my original manuscript to publishers this year; so far, three rejections, but I’m not discouraged. With any luck, the book will be approved for publication by graduation in May 2027, when I expect to receive my MBA, my son, Nicholas, will graduate from IU with a BS in Biology, and my youngest son, Liam, will graduate from high school.
Thanks for your support,
-Claire
