The Power of Crafting a Nonfinancial Legacy
David Buck
| Time Management Expert | Revenue Catalyst | Driving Success through Strategic Planning & Execution | Author of "The Time-Optimized Life" |
This article first appeared in Rethinking65
As with generational wealth transfer, a well-planned nonfinancial legacy can leave clients and their families richer than they imagined.
William Tripp lived well into his nineties. While generally quiet in his demeanor, Bill (to his friends) could tell stories about his life that kept those around him riveted. Born July 13, 1913, his life experiences included: surviving the great influenza epidemic of 1918, helping his father complete their unfinished house to get water and electricity functioning, being the family’s “chief gardener,” getting his family’s first telephone, suffering the pain and loss of the Great Depression, meeting the love of his life, and starting a family.
How do I know all this information? Bill was my wife’s grandfather. With constant urging from my wife, Gramps (as he was affectionately known to family), wrote a summary of his life. It begins with, “I would like to present as a gift to my daughters, my grandchildren, and my great-grandchildren, ’My Legacy —- The Story of My Life.’” In the years since his death, Gramps’ book remains a gift that keeps giving — even to his great-great-grandchildren.
Financial planning focuses on the tangible aspects of wealth transfer — investment portfolios, real estate and financial assets. However, the most profound inheritance isn’t measured in dollars and cents, but in stories, experiences and wisdom passed from one generation to the next.
Financial advisors have a unique opportunity to guide clientele beyond traditional estate planning and wealth transfer, helping them craft heirlooms that truly resonate with their families and preserve their life’s most valuable lessons. Devoting just a little bit of your time, will increase your opportunity to stay involved with future generations and help their wealth continue to accumulate.
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David Buck is the author of the book The Time-Optimized Life, coauthor of The Retirement Collective, and owner of Kairos (Time) Management Solutions, LLC. Learn how to apply the concepts of proactively planning and using your time. Take the Time Management Analysis (TMA), the Retirement Time Analysis (RTA), or all the other free resources offered to help bring more quality time into your life.
CLEARING AGENT
1 周Thanks, Dave
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1 周These are great resources! Thanks David Buck!