Have you considered the legacy you want to leave behind - the lasting impact that will resonate long after you’re gone? Building a legacy is about creating something that outlives us — whether through family, profession, mentorship, or community.
Consider the inspiring story of our clients who met in college and have shared over 50 years of marriage. Their legacy reflects their commitment to fostering future generations of learners: they’re career educators who’ve made significant donations to their alma mater and established education trusts for their grandchildren.
They intentionally shaped a legacy aligned with their shared passion for education and their deep love for family. If you’re ready to start planning what your legacy will look like, here are a few questions to spur the process:
- What values and principles do I want my life to represent?
- How do I wish to be remembered by my loved ones?
- What contributions will be remembered by those beyond my immediate circle?
- What kind of impact do I aspire to have on my community?
- Whose lives do I want to touch in a meaningful way?
- What wisdom and lessons would I like to pass on to future generations?
- What tangible or intangible gifts do I want to leave behind?
From there, you can draft a legacy statement. Our clients’ legacy statement was:
“Our lives were enriched by the love we found in each other and the joy we experienced in educating young minds. We leave behind a legacy of lifelong learning, family devotion, and a commitment to empowering future generations to reach their full potential.”
Your Legacy Roadmap
Now that you’ve articulated your legacy statement, you can translate those words into concrete actions. Legacy planning infuses personal meaning and purpose into your financial decisions. It allows you to provide for your family’s needs, support the causes you believe in, and ensure the smooth transition of your business — all while reflecting your values and morals. (An important part of legacy planning includes estate planning, which you can learn about in more detail here.)
Here’s a roadmap to help you build and protect your legacy:
- Develop a Comprehensive Financial Plan: Ensure your long-term goals are aligned with a strategic plan that supports wealth growth, tax efficiency, and risk management.
- Protect Your Assets: Safeguard your wealth with proper estate planning, trusts, and insurance to ensure smooth wealth transfer to future generations.
- Consider Philanthropy: Incorporate charitable giving into your financial plan to leave a lasting impact on causes that matter to you, like our clients who chose to donate to their alma mater.
- Educate the Next Generation: Prepare your heirs to responsibly manage the wealth they inherit by instilling sound financial values and involving them in your financial decisions.
- Review & Adapt: Continuously revisit your legacy plan to account for life changes, evolving goals, and new opportunities.
- Professional Guidance: Work with financial advisors and estate planners to make informed decisions that ensure your future security and your desired legacy.
We’re Here to Help
Intentionally crafting your legacy is an act of profound generosity and planning. Does yours reflect your deepest values and aspirations? Does it embody the impact you want to have on the world? We can help — connect with your Measured Wealth advisor or one of our experts at Measured Wealth today!
