Legacy. A heavy word. Almost every financial services advert uses it. And, almost always, it refers to the money you leave behind.
While leaving a large inheritance might seem like the ultimate gift, a legacy of financial wisdom and healthy living may be far more valuable. Especially in today’s times.
This education isn’t about complex charts or stock market jargon; it is about simple, foundational habits that build a lifetime of security and freedom. It begins with understanding that money is a tool that can empower much more than it restricts.
Match your longer lifespan with a great healthspan.
Here are 4 ways to leave a REAL legacy for your children or others you love:
- Teach them financial literacy. The basic type. Compounding. How, over time, small investments can grow to meaningful amounts. Get them started early on small monthly investments. If they are tight any month loan them the money to keep the habit intact. My son has been investing $250 a month since he turned 18. He keeps just that simple habit up and he will have more than $1.5M before he is 60.
- Show them how to spend on experiences they value. Not on things to look cool. So they don’t spend ‘money they don’t have to buy things they didn’t need, to impress people they don’t even know.’ We take fancy vacations. We also buy used stuff and stay out of getting our validation on social media.
- Let them see YOU making time to be healthy. Eating well, working out, not smoking. Regular yoga and gym workouts are not only a great way to stay healthy, they also create bonding time.
- Prioritise relationships. It is directly correlated to health and wealth. Young people should grow up seeing happiness, love and laughter around them.
This is a legacy each one of us can create. A gift that can never be spent or lost.
Providing our children with financial literacy is equipping them for life, offering them freedom and choice long after we are gone. That is a legacy worth building. Get yourself familiar with these concepts. Learn that doing money right is about keeping in simple. And teach those you love that they need to take charge of their financial future. Sooner the better. And from a position of strength and abundance, not fear.
#CLIFF #ComfortableLivingInFinancialFlexibility
