Why Legacy Planning is So Important, Ep #29 

<p>How do you want to be remembered when you’re gone? Who do you want to bless financially? What organization or individuals are important to you? Legacy planning is the missing piece in retirement plans—and can be a difficult conversation to have. But it’s a conversation that must be had and what I’m talking about in this episode of Retirement Made Easy. </p> <p>You’ve worked hard for everything that you have. You didn’t get it by accident. If you spent your entire life working for everything you have, at least spend some time planning for a positive and beautiful legacy. If you don’t, it could be a nightmare for your loved ones. </p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li aria-level="1">[1:44] What do you want your legacy to be?</li> <li aria-level="1">[3:24] My grandparent’s personal story</li> <li aria-level="1">[6:13] Keep your legacy planning fair</li> <li aria-level="1">[9:31] A hypothetical scenario</li> <li aria-level="1">[11:05] “Bullet-proof” they money you leave</li> <li aria-level="1">[13:52] A conversation you need to have</li> </ul> <h2>Don’t let your legacy be a missed opportunity</h2> <p>My grandparents would’ve loved to pay for their six grandsons’ college educations. But they didn’t have that conversation with their financial planner and the goal was never addressed. The sad part is that they were in a great position to pay for all six educations—they just never had the conversation to put it into place. </p> <p>Four of the six grandkids came out of college with <em>high</em> student loan debt. The other two didn’t complete a college education. That’s not to say they didn’t leave a legacy. We all learned essential core values from both of them, such as working hard and treating everyone with respect. </p> <h2>Legacy planning [keep it fair]</h2> <p>People want to be fair to each of their children. They love them all the same and want everyone to be happy. One couple I met paid $20,000 for their two oldest daughter’s weddings, but their youngest hadn’t ma