I have a desire to leave my kids a legacy. But I also desire to live my fullest life.
For some this seems like a conflict of interest. How can you grow a legacy for your children and have all your desires met too? Isn’t it one or the other?
Sadly, many believe this, and because of their desire to help their children, they cut back their wants, they downsize and stash away every cent they can to ensure they have money for the children and grandchildren.
There is a better way!
First, I want us to consider a few things.
What we desire for our children, may not be what they desire for themselves.
In the last 3 years, many families have made the choice to live unconventional lifestyles, they have quit jobs and become entrepreneurs, selling their houses to live in RV’s, to travel and experience as much of the planet that they can.
They have discovered they can work from anywhere in the world!
Will they return to the 9-5 office in years to come?
Will they eventually come back and plant roots? Maybe 🤔
These young people have seen their parents and grandparents grow empires for other people, and they don’t want any part of that.
Many are not willing to wait until retirement to see the world, they understand that that day may never come. So, they are risking everything and are doing it now!
Another shift in the next generation is, they understand that owning a house isn’t the only end game.
Many have come to the acceptance that home ownership is out of reach for them, and that’s ok!
Home ownership is time consuming and expensive, and they are content with renting, the maintenance is so one’s else’s responsibility and there’s less commitment.
Much of our thinking is generational mindset, “man is nothing without land”. Two hundred years ago that was true, today not as much.
So, what do your children expect from their inheritance?
Do they wish for you to cutback, do less so they can have more?
I highly doubt it. Part of life is the experience of working and paying for what one wants.
The only way to understand each other’s wants and needs is communication. Family meetings, opening your books so they know and understand how much you have and where it’s flowing to.
You have worked long and hard for your money, enjoy it!
A legacy can be built in other ways.
We can help build a legacy with you for your loved ones. With ease and flow. Book a conversation with us now!