Legacy

Creating your Legacy

Many folks avoid estate planning or legacy planning. This is often because of how it is discussed. It is often thought of, discussed and shown as an either or between retirement income and legacy planning. Then there is the misconception that legacy planning will create a ‘silver spoon’ effect.

First, let’s define legacy. How do you want to be remembered when you are no longer here? Who is important and What are the key values that you want honored? Legacy is too often talked about in only financial terms and not in values. Once you’re able to create the vision of how you want to be remembered -> now we can work to bring that vision to life.

Secondly, there is the confusion that legacy will take away from retirement income. What if the assets that you designate for legacy could be used for a couple additional purposes? 1) allowing you to do something different with your other assets -> creating a more stable and efficient retirement cash flow. 2) acting as a backstop to your plan. Thus, if your plan faulters, you could use the legacy assets to rescue you from an unforeseen and unfortunate event.

If it didn’t affect your retirement income, what is the legacy you would create?

Click below to start building the legacy you want but thought was out of reach.