“Legacy is not what I did for myself. It’s what I’m doing for the next generation.” – Vitor Belfort
Five areas a financial advisor can or should help you.
- The first is to help you make smart decisions with money. Obvious, right?
- Second, help structure your investments, withdrawals, and assets to mitigate taxes. Again, coordination between your financial advisor and your CPA is beneficial to execute this step.
- Third, see that an attorney structures your assets for a smooth transition to your heirs. Many people had their will set up over a decade ago. Much more need to have essential documents, like a healthcare power of attorney named. We discuss this on the Retire Happy Podcast (Ep.13).
- Fourth, coordinate with your estate attorney to help establish asset protection. We discuss this on the Retire Happy Podcast (Ep.18)
- Fifth, help magnify the impact of charitable giving to your estate if you are charitably inclined.
Which one is most important to you? Which is something you need to address?
Great idea I read on Instagram, @dadtalktoday c/o @Mellumjr.
When my son was born, I created an email address for him. Every achievement and photo taken is sent to that email. He will get the password and have all those memories when he is old enough.
I wish I had done this.
On the lighter side, Elliott had beaten me in chess every day this week. I am 0-12. I have mixed feelings about this.
