Once the presents have been opened and the Christmas dinner eaten, there typically comes the obligatory household argument about which festive film you are going to watch together.
As with all genres, Christmas movies range from the classics that will stand the test of time to the turkeys that will be lucky if they’re remembered by the next holiday season.
But some of them go that one step further and are about more than just the old familiar themes that we are insistently reminded of at Christmas. Indeed, some of them even hold surprising financial wisdom and impart valuable messages about wealth management.
So, read on to discover three heartwarming festive films with unexpected lessons about financial planning.
1. Love Actually and the importance of portfolio diversification
Since its release in 2003, Love Actually has cemented itself as a beloved Christmas classic.
The movie weaves together multiple storylines, exploring themes of love, family, and connection, all set against the backdrop of Christmas. With eight interconnected plots, ranging from the comedic to the heartbreaking, Love Actually becomes greater than the sum of its parts, and even the grumpiest of Scrooges in your house are likely to find a storyline that resonates with them.
In this way, the narrative structure of Love Actually mirrors the value of a well-diversified portfolio in financial planning. Each plotline represents a different aspect of life and relationships, and together they create a richer, more rounded story.
Similarly, in financial planning, diversifying your portfolio across a range of asset classes, regions, and sectors, can help to reduce risk and ensure balance, making the whole stronger than the individual parts.
So, just as the film’s intertwining and eclectic stories ensure no viewer is left disappointed and create a rich tapestry of emotion, a diversified portfolio can help ensure that no single setback derails your financial journey.
2. Arthur Christmas and the benefits of registering a Lasting Power of Attorney
Arthur Christmas tells the story of the Santa Claus dynasty, a family of legendary gift-givers who pass down the role of “Santa” through the generations.
The current Santa, Malcolm Claus, has embraced modern technology and, as he’s grown older, he has delegated much of the responsibility to his eldest son, Steve. However, Steve’s obsession with efficiency leaves little room for the magic and heart required for the role.
When a glitch in the system results in one child being left without a present on Christmas Eve, Malcolm’s younger son, Arthur, steps in to save the day.
The film explores intergenerational relationships and the complexities of transferring responsibilities, highlighting the importance of having a clear and well-thought-out succession plan.
Just as Malcolm Claus finds himself unable to fulfil the duties of Santa, there may come a time when you’re unable to make critical financial or personal decisions yourself. Unlike Malcolm, you’ll want those decisions to be made by someone you’ve personally chosen and trust. This is where a Lasting Power of Attorney (LPA) can be invaluable.
Registering an LPA allows you to appoint someone you trust to make decisions on your behalf if you’re unable to do so. Having an LPA can help to ensure continuity, avoid disputes, and protect your wishes – whether they relate to financial management, healthcare decisions, or even delivering presents.
3. Jack Frost and the power of leaving a legacy
Jack Frost may not be the best-known Christmas movie, but for children (and parents) of the 1990s, it holds nostalgic charm, and it also carries surprising financial lessons about estate planning.
In the film, Charlie Frost’s musician father, Jack, is tragically killed in a car accident during the holiday season. Before his untimely passing, Jack gives Charlie a lucky harmonica, telling him that its music will allow them to stay connected no matter what.
A year later, Charlie plays the harmonica, and to his amazement, Jack returns in the form of a snowman. Jack helps Charlie overcome bullies and some of the difficulties he’d been facing at school, and he’s also able to teach Charlie important lessons and values he hadn’t been able to while he was alive.
This heartfelt story highlights the profound importance of estate planning and leaving a lasting legacy.
Jack’s harmonica is a symbol of his love, care, and wisdom, allowing him to continue guiding Charlie even after he’s gone. Similarly, effective estate planning ensures that your values, wishes, and the support you provide to loved ones can endure, even after your death.
So, whether it’s passing down cherished possessions in your will or ensuring financial stability for those you leave behind, estate planning gives you the opportunity to leave a meaningful legacy that helps support those you love after you’re gone, just as Jack did for Charlie.
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Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
The Financial Conduct Authority does not regulate estate planning, cashflow planning, tax planning, Lasting Powers of Attorney, or will writing.
