What will be your legacy?
What Will Your Legacy Be?
As we get older, many of us start to think about how we’ll be remembered. In our 20s and 30s, we are often climbing the "first mountain"—focusing on career wins, building status, and acquiring assets. But in the second half of life, the focus often shifts to the "second mountain": family, philosophy, and community.
Wealth is a Facilitator, Not the Goal
A recognition that we won’t be around forever can lead to deeper thoughts about the purpose of our wealth. Your legacy isn't just about a sum of money in a Will; it’s about the values you pass on and the security you provide for the people you love.
A great way to uncover your true goals is to ask yourself three questions:
If you had all the money you ever needed, how would you change your life today?
If you found out you only had five years to live, what would you prioritize?
If you had only 24 hours left, what would you regret not doing?
Connecting with the Present
Often, the answer to these questions isn't "buy a bigger boat." It’s usually "spend more time with my grandkids," "travel with my spouse," or "support a cause I believe in."
Some of the best legacy planning we do with clients in Adelaide involves intergenerational wealth transfer—not just leaving money, but teaching financial literacy to children and grandchildren so the wealth lasts.
Yes, technical planning is essential—Wills, Binding Death Benefit Nominations, and powers of attorney. But these are just the "how." The "why" is the legacy you build every day through your relationships and your choices.
Source: https://www.morningstar.com.au/personal-finance/what-will-be-your-legacy
For any further information regarding this article please call Humble Goode on (08) 7477 8252
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