Broker Check
<strong>Financial Concepts Explained with Simplicity</strong>

Financial Concepts Explained with Simplicity

Each month, we will post an article on a basic financial concept in a manner that is easier to follow and understand than professional financial lingo.

Understanding brings confidence to your financial decisions.




Two weeks ago we celebrated my son's first birthday. As I looked out at my collection of family and friends gathered to celebrate him, I thought about the impact all of these people would have on his life, and what impact he would make in the life of others.

This brings me to this month's topic, Legacy Planning.

Legacy planning is the what-comes-next part of financial planning. As morbid as it seems a successful financial plan means you reach the end of your life before you reach the end of your money.

Yet sometimes crossing the finish line isn't everything you want to do in life. Whether it is a sum of money you want to go to your children, your favorite charity, or a Dark Knight-style pile of burning money (this is not a recommendation!!), it is nice to know what will happen to your money when you are no longer here.

The attached articles will dive into things we consider when we think of the word Legacy Plans.

Our first article, "Estate Planning Checklist" goes through things to consider when your financial advisor finally bugs you enough to actually to sit down with an estate planning attorney, and goes over the importance of those documents.

The second article "Who is Your Trusted Contact?" discusses the importance of having someone who watches out for you throughout your life, not just in your old age.

Finally, "Managing an Inheritance" discusses the other side of this equation, what happens when you are someone else's legacy. 

  1. Estate Planning Checklist. To help you gather a more complete picture of your overall preparedness when it comes to estate planningLearn more.
  2. Who is Your Trusted contact? You should have a high level of confidence that your trusted contact will behave ethically and respect your privacyLearn more.
  3. Managing an Inheritance. A windfall from a loved one can be both rewarding and complicated. Learn more.

If any of these articles strike your curiosity, contact your team at Prosperity to discuss it further. I will see you all next month with more interesting articles. 

I will talk to you next month!!