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Welcome to the 30th edition of The Wealth Letters, a crowdsourced Anthology on how to find enough in a noisy world.
The manifesto is a great place to start to better understand the who, what, & why of The Wealth Letters before diving in to the collection.
Photo Credit to Jim O’Shaughnessy
The following are two letters written by
, the first being to all parents, and the second to his children on April 22, 1985.Both letters are sourced from & credited to.1
About Jim O’Shaughnessy
James P. O’Shaughnessy is the founder and CEO of O'Shaughnessy Ventures LLC ("OSV"), an investor in and accelerator of creative endeavors. He is also the host of the Infinite Loops podcast, and New York Times Business best-selling author of the book, What Works on Wall Street.
O'Shaughnessy lives in Greenwich, CT with his wife and is the father of three children and grandfather to three as well. 2
Before getting to Jim’s letter to his children, I believe it will provide us with some context as to why Jim felt called to write for his children. And so, here is Jim’s letter to all parents:
Why Writing Letters to Your Kids Is the Best Gift You Can Give Them as Adults
By: Jim O’Shaughnessy
“Letters are among the most significant memorial a person can leave behind them.” ~Johann Wolfgang von Goethe
I’ve always believed in the written word. Having to put your thoughts in writing helps you understand if you clearly understand what—and how—you want to say something. And if you keep written journals, there is simply no way to let hindsight bias take over, for there, in your own hand, is what you thought about something at the time, with revisions through selective memory impossible.
Writing clarifies. It illuminates. It helps you follow your own growth (or decay) in the way you look at the world and how your ideas have changed—or remained the same—over the course of your life. As someone with boxes and boxes of old journals, if I want to know what 21-year-old me thought about something, all I must do is pull out that journal and read. Sometimes I’m amazed by how much my views have changed—often dramatically—as I have made my way through life.
Yet equally telling is how little some of my foundational beliefs have changed. For the most part, I find that that, if anything, they have become stronger, better articulated, and better supported.
I’m a big believer in reading as much as you can that takes the other side of what you think. We’re all subject to confirmation bias, and a great habit to build is to always search out beliefs that counter your own. If they make you change your mind, as has happened with me, then your original belief really wasn’t that sound to begin with, so, by always challenging yourself, you make your thinking stronger and more truly reasoned.
You should also try to seek out the best arguments for things you don’t agree with—called creating a “Steelman” as opposed to the far more common “Strawman.” You’ll often see nothing but Strawman arguments in popular media and I’ve sadly concluded that, for the most part, popular media stopped presenting serious, well-articulated essays that might help sway you to a different point of view. But there are more great, serious essays available today to all of us than ever before—it’s part of what I call “The Great Reshuffle” which is the ongoing transformation of almost every aspect of our lives that technologies and inventions are ramping up for society at an exponential rate.
We could be living through one of the most interesting periods of human history, and you have a chance to narrate it for yourself and your children. I’ve long advocated writing continuous letters to your kids, but given all the changes we’re living through, it might give you an extra special opportunity to let your kids see it all unfold.
This compels me to again urge every parent reading this to get in the habit of writing your children a series of letters so that they too can understand you, and, with luck, themselves better. Having to articulate thoughts in a letter allows you and your children time to reflect on things in a way that is often difficult in the day-to-day events of your lives together.
It’s something that I always wish my dad had done, as we had a rather difficult time understanding each other and I think a series of letters from him would have helped me understand him much better than I ultimately did.
Ideally, you should start as soon as you can and continue to write over the years. I started when my son, Patrick, was 7 days old and continued until my last child turned 21. As each child hit 21, my wife—the true marvel in the parenting hall of fame–would select photos and publish the letters in book form for each of my kids. The last letter of each book was written specifically to the child the book was for, but otherwise, all the letters were for all my kids.
Below is the first letter I wrote, which I hope spurs you on to do this for your kids. Rarely are things 100 percent win/win, but in the case of letters for your kids, that’s the reward for taking the time as your kids grow to have a conversation with the adult they will become.
Jim’s First Letter to His Children
April 22, 1985
Dear kids,
Firsts are exciting and somewhat perplexing. This is the first entry in a book I’m going to keep for you; its direction not yet known to me. Thus, the thought of giving you something created over the years excites me, but I am also perplexed about what I really want to write here.
I know that I don’t want this to be a diary, detailing the days, for although we already love you we know that a diary of when you eat and sleep wouldn’t be exciting reading. In some ways, I hope to be able to say all the things fathers want their children to know, yet so many times forget, or neglect to tell them.
If nothing else, you will see how I changed, from a 24-year-old brand new father, to one who has watched you grow up, and, with luck, grown up myself.
Most of all, you may be able to know both me and yourself better through this collection of “letters” and we must all strive to understand ourselves and those we love, for through our understanding and experience comes the wisdom that no one person can teach another, no school can transmit it. It must come from within, from learning, from logic and experience. If I could, I would describe it for you; I can’t. Perhaps you will agree when you are older.
I also want to tell you about me, my life, my thoughts, perhaps you can gain some understanding of yourself through understanding me. If I was going to describe my own impulses in a paragraph, it would be advice to you as well, so here, in Lao Tzu’s words, it is:
“He who knows much about others may be learned, but he who understands himself is more intelligent. He who controls others may be powerful, but he who controls and has mastered himself is mightier still. He who receives his happiness from others may be rich, but he whose contentment is self-willed has inexhaustible wealth. He who occupies a place provided for him by others may live a long life, but he who dwells in his own self-constituted place, even though he decays, is eternal.”
That bit of wisdom really embodies many of my goals, and many of my beliefs.
You will always be only as good, only as happy, only as successful as you perceive yourself to be. Happiness springs from within, never from without. Virtue too; honor; and love. All the things that make a life worth living. Thus, if you are unhappy, don’t look outside yourself for causes, the reside within; likewise, if, like me, you are happy, understand the source within your soul.
Love,
Dad
Learn More About Jim O’Shaughnessy
If you enjoyed reading a letter from a parent to child(ren) like Jim’s, you may like these past editions of The Wealth Letters too:
#001 - The Wealthy Window Washer: A father’s letter to his two baby girls on his search for true wealth & contentment.
#002 - The Wealthy Mother: A letter from a mother, wife, lawyer, and author to her two young daughters a year prior to her passing, "to address what will likely be the greatest question of your young lives."
#003 - The Wealthy Author: A father’s letter to his kid: The 9 money and life lessons most people learn too late in life
Shout-Outs!
- & - Thank you to Jim for writing these beautiful letters, and to Polina for bringing them to the world!
- - Johnny was kind enough to share The Wealth Letters with his readers over at A Man’s Work…Thanks Johnny! A Man's Work is a weekly newsletter about modern manhood. Every week, you'll get brutally honest takes on how men are facing their toughest challenges and the tools men are using to overcome those challenges. It's deep. It's useful. It's way more fun than it should be.
Men and women welcome! Check it out here:
3.
- Jonah was also kind enough to share The Wealth Letters with his readers over at his newsletter…Thanks Jonah! Dive into a world of captivating fiction with "TaleCraft: A Fiction Odyssey." Explore Romance, Thriller & Suspense, Science Fiction, Horror, and more. Subscribe for stories that will keep you hooked!Thank You for Your Support
Would you consider sharing The Wealth Letters with a friend? That would be so much appreciated:
Want to share your own Wealth Letter and be featured in the collection?
If that sounds interesting to you, here is a link to write your letter for the collection.
If you would like to voice record your wealth letter, you can do that easily by clicking here (your voice recording will then be sent to me directly).
I always appreciate any feedback, ideas for letters, or just to chat!
Reach out via email: support@thewealthletters.com or by commenting on this post.
I look forward to hearing from you!
Jordan
Writing letters to your kids, at all stages of live, is awesome advice. I hope this becomes more of a thing.
Jim O'Shaughnessy's letters to both parents and children beautifully highlight the power of written communication in fostering understanding and connection within families. His words resonate with depth and sincerity, emphasizing the importance of self-reflection, growth, and the pursuit of wisdom. By sharing his thoughts, experiences, and wisdom through letters, O'Shaughnessy offers a timeless gift to his children and future generations, inspiring readers to consider the profound impact of written communication in nurturing relationships and passing on valuable lessons.
Thanks Jordan for your kind words! I really appreciate the shout-out. It means a lot to me!