Multi-Generational & Legacy Wealth

The first step in creating multigenerational legacy wealth is successful retirement planning

The extent to which you have successfully planned your retirement will determine the extent of the preservation of your accumulated wealth.  If your passive income cannot meet your needs (and wants) in retirement, you will need to sell some of your assets.  This is not an unusual circumstance and it OK if necessary.  But this is an act of wealth destruction.  At this point in everyone’s financial life, your assets are fixed and providing income to pay for your liabilities (the needs and wants of life) and your liabilities are constant and recurring and often rising.

Assets – Liabilities = Net Worth.  As just explained, your assets are funding your liabilities and they are fixed in amount (although the income from them need not be).  If you want your multigenerational legacy wealth to endure, it would make sense to reduce your liabilities (typically from the wants of life not the needs) if you must reduce your assets because your passive income is not covering your liabilities.  This is an uncomfortable decision because as you sell off assets, income declines and eventually more assets will have to be sold off. There is something of a snowball effect here.  This describes something of an uncomfortable retirement, having to make uncomfortable decisions.  Our goal would be to help you avoid this.