There is a lot of interest these days in financial planning circles about Legacy. This may be the result of the county’s aging demographic and the fact that the greatest wealth transfer in history will soon be taking place as the current generation passes on. Clients talk about it, advisors talk about it, and articles are written about it. I cover the subject in my book, Finding Your Money’s Greater Purpose, as do others. Usually, the subject involves planning for after we are gone from this life. It deals with the provision we might make for those who come after us. We hear terms like “His legacy was always helping others” or “The legacy gift that family left will support the organization for many years”. But Legacy need not always refer to what we leave. As Alan Weiss points out in his new book, Threescore, and More, we form our legacy daily. This concept is much more meaningful for me. How we interact with and influence family, friends and the organizations and causes we care about each day defines our legacy. And we benefit by being involved here and now.
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