Building a Financial Legacy
by Jonathan Springstead, Professional Financial Planner
Leaving a legacy can mean various things for different people. Most people, while raising their children, are looking to build good character traits like politeness, good work ethic, and positive attitudes, among other things. Life goes by quickly through the child-rearing years. Before we know it, our children are looking at education after high school, selecting a career path, and beginning a family of their own; and the building of a legacy begins again. The fortunate nature of our profession is that we get to work alongside multiple generations. I can often see the mother or father in the facial expressions and mannerisms of the son or daughter. We come alongside to help guide each generation in their story to build a financial legacy.
Through financial planning, we can help individuals, in the accumulation phase, ensure that they are on track for their retirement while enjoying adventures and experiences along the way. We can help you make sure that your financial plan provides a buffer from some of life’s uncertainties. For example, being prepared to avoid secondary emergencies that can arise when an emergency occurs. Most importantly, we offer encouragement to live and do the things that you want to do in life, both before and after retirement.
My question to you is this. Do you have a financial plan? Have you implemented the plan and is someone working alongside you to help you stay on track? We aim to educate, encourage, and build, by equipping you with the knowledge and resources necessary to better your life story. Have you sought help to navigate the “What ifs?” Here are some examples of “What ifs” that I have been asked in recent months:
“What if we move to a different state?”
“What if we sell our house and travel for 10 years in an RV?”
“What if I sell my farmland and use the proceeds for investments?”
“What if we cover half the cost of college tuition for our children?”
“What if I set up a charitable foundation when I am 70 years old that can distribute the gains every year to grants in my community?”
“What if I incorporate Equilus real estate as part of my portfolio instead of having everything in the stock market and bonds?”
One of the resources that we like to share with people is a book called “The Psychology of Money” by Morgan Housel. This is an excellent book, and each chapter has a few good stories of real-life lessons on behavior and why people do what they do with regards to money. I have spent the last twenty-three years working with people; I like to understand people from the standpoint of this book. Understanding people’s dreams and goals helps me to custom-fit a plan that guides them in the best path to choose, as they envisioned for themselves.
For a free book and to speak to one of our Advisors, please contact us at (509) 665-8349.