When you think about legacy, do you think about inheritances or a last will and testament? Of course, those are all parts of planning a legacy, but we know that what you leave behind goes far beyond money and paperwork. Instead, we want to talk about the real legacy — the stuff that made you so special to the people you’ll leave behind.
For some, this may seem like a morbid topic or one that’s slightly depressing. But we think this episode of Worth It is important for two reasons:
But enough of that. Let’s dig into what we talked about on this week’s episode.
[00:48] Why thinking about a legacy isn’t just for old people
[01:24] Why talking about death isn’t morbid
[04:49] How Game of Thrones is connected to your legacy
[07:42] The ways what you leave behind affects others
[09:00] What kind of legacy do you want to leave?
[12:27] Why you should think about how you want to be memorialized
[15:46] The most important aspects of your legacy
[16:26] What to write in your personal mementos journal
[17:36] Why stories are so important
[21:20] How to include letters in your legacy
In the financial planning world, a “legacy” is mostly about who gets your money after you die. This could be your kids, your grandkids, the owner of your favorite deli, or the nurse who helped take care of you in the hospital. The options are endless. Legacy planning also includes logistics about estate sales, executors of your estate (who’s in charge after you’re gone), and business succession plans. These are all very important in the scheme of things, and they should be taken into account with any sort of financial planning you do.
But that’s not all there is to legacy planning. Instead, we believe that things like your story, your hopes and dreams, your life lessons, and your keepsakes are also important to pass on. That’s why part of our Dream. Plan. Live process is to take our clients through legacy planning — with a twist.
Our Dream. Plan. Live process has a 6-part section for figuring out your legacy. This section includes thought exercises where you think about:
This can be an emotional activity, but it’s also empowering because you know that what’s most important to you will always be remembered. Plus, you’ll leave something more substantial than a few bucks. Because, as Danielle says, people always remember the stories most.
We really enjoyed this discussion, and we hope you did, too. But mostly we hope you really start thinking about your legacy and creating those personal mementos we talked about. Because you can’t control when or how you die, but you can control how well you’ve planned for it.
This material is for general information only and is not intended to provide specific advice or recommendations for any individual.
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