What does money mean for you?

Jennifer Thompson
3 min readDec 7, 2020

David and Donna Jenkins were a retired couple in their sixties with a beautiful home and a healthy nest egg.

David was an engineer who worked for the government for 35 years. Donna taught elementary school for 30 years. They lived off a great pension.

They had two adult daughters. Sarah was independent and worked at a local college. Jenna, a single mom on social assistance for most of her adult life, had three sons — ages 8 to 12.

Not only was she unable to hold a steady job, but she also moved every other year, with those three boys in tow.

It bothered Mrs. Jenkins to see her grandchildren live with so much instability. She and her husband decided to buy a house for Jenna and the boys to live in.

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More than numbers

Most of their money was in registered retirement accounts. It was saved for their retirement. Withdrawing large amounts from it all at once would have resulted in a massive tax liability.

The only way to buy the house was to get a mortgage. This was a compromise for them. Especially after having been debt-free for twenty years.

Their advisor had made some retirement projections for them years ago. There was no way she would have included this expense. Who plans for this?

The financial industry looks at money from a numbers-based perspective. How much you will need for retirement, the down payment on a home, or your children’s college education. The prescribed list goes on.

On the day his daughter and grandchildren moved into their new home, David Jenkins came in to see his banker

He told her how excited his three grandsons were to move into their new home. The eight-year-old looked up at his…

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