For many, the concept of a grandparent legacy is intertwined with the concept of a financial legacy…an inheritance. And, while passed-along wealth can certainly be a significant boost to your grandchild’s potential success, the powerful and empowering secret is THIS…..that money is not necessary. And in fact, anybody can create a financially-themed grandchild legacy.
Foul cankering rust the hidden treasure frets, But gold that's put to use more gold begets.
--William Shakespeare, Venus and Adonis, 1593
This page is for YOU....
Whether you’ve amassed a fortune,
Worry that your savings will last
Or find yourself somewhere in-between
Providing financial insight, simple wisdom, and guidance to your grandchildren can be an amazing legacy builder.
If money is your hope for independence you will never have it. The only real security that a man will have is a reserve of knowledge, experience, and ability.
- - Henry Ford
Financial Education Void
Financial education is nearly non-existent in the U.S. education system with few examples. Thankfully, the game of Monopoly has helped fill the gap! I wish I were entirely joking, but I’ve spent many cutthroat hours battling my brother and sister at this game. And, we’ve learned many practical and real-life lessons…
Take risk to grow
Manage your cash-flow
Think creatively to finance good investments
And, the art of “the deal” in selling & negotiation; allying with third-place players in order to knock out number two.
Ah, yes, Monopoly & the insight of the game should not be underestimated.
In addition to the standard game, there are countless choices today (Family Championship, Disney, Transformers, Star Wars, plus video game versions and some special Deluxe and Gift games too!)
Monopoly!
See how simple & fun legacy building can be?
Before honing in on some additional inspirations to partner with your grandchild towards a financial legacy theme, let me highlight for you how the information is categorized.
The financial webpages are segmented into 3 categories:
• Inspiring financial wisdom
• Getting your financial house in order
• Gifting & College Education savings
Inspiring Financial Wisdom
Like many things in life, the best things are free. So, regardless of your own financial position… consider imparting your grandchildren with the inspiration to gain their own financial wisdom. Don’t know where to start? No worries…here you’ll find plenty of ideas and coaching concepts. Inspiring Financial Wisdom
Getting your Financial House in Order
Beyond inspiring others, many miss the importance of getting your own finances in order. Does your financial house present a property with great curb appeal? We all have some weeding to do in the garden occasionally…and procrastination only makes the situation worse. Have you secured your own income streams? Ever get to that estate planning? An updated will? Are trusts planned for your heirs? Are you leveraging your ability to give gifts in a tax-free method? (Page Pending - Come back soon!)
Gifting & College Savings
With your own financial house in order, another incredible legacy builder is to bless your grandchildren with college funds. Like never before, a college education is critical to your grandkids future success. Make no doubt that we live in a competitive world which is only getting more intense. And with the rapid increase in college tuition…securing college funding can save your loved ones from a decade or longer of struggling paycheck-to-paycheck while digging out from the huge burden of student loans. Gifting & College Savings
Disclaimer
While I’ve tried my best to compile suitable information for your possible use, it should be made clear that everyone’s situation is different. Please consult with your own financial experts, tax advisors, and the like for practical matters of your finances. While I offer you my own opinion alongside the expertise and research from dozens of other sources here, LoveMyGrandchild shall not be liable for any actions taken in reliance thereon. All information provided "as is" for informational purposes only, not intended as direct financial advice.
