Sentimental Value

My friend inherited a Smith & Wesson revolver from his father. But holding onto a licensed weapon in India takes effort. You need to get the licence renewed every two years. And you need to deposit the weapon with the police during elections. So while it was not practical, the revolver had special sentimental value for my friend.

I inherited a ton of books from my father. Sadly, there is little overlap in our reading tastes. So while I am not likely to read them, these books have immense sentimental value for me. One of them, for instance, has his signature with a note saying he bought it while visiting Paris in the ‘80s.

Another friend reached out to ask about some shares he was holding. He did not want to sell all of them for sentimental reasons - his dad had bought the shares.

A young cousin ended up buying a house - a misjudgment given his age and stage of life - because he felt he was fulfilling his mom’s last wishes.

We are not Vulcans - entirely rational and practical. Our emotions play a large role in who we are and how we choose to live our lives.

And when it comes to money and finance, this tussle between logic and feelings makes decisions hard.

As financial advisors, Shantanu and I are quite clear on our responsibility - we are the Vulcans in the show. We help you see the rational and logical choice. But we won’t judge you for the choice you make.

My friend, R, said something wise many years ago. He has a small farm on the outskirts of Delhi. He said he wanted to make sure he sold it off before he passed away. R did not want his son to feel the pressure of holding on to the farm just because R bought it.

To me, the moral of R's story is to choose my words and my possessions carefully and not make them a burden for my children when I pass on.