What Is a Real Legacy? – The Human Side Of Money Presented By Client Care
In our work with clients, we focus on a lot more than their money. Yes, the numbers and thereturns matter, but they are never the starting point. The starting point is always the person sitting in front of us and the people they care about.
We spend a great deal of time helping clients understand what is truly meaningful to them. What does a life well lived look like and what would make their retirement rich in more than just rands and cents? These are not always easy conversations, but they are the most important ones. When we unpack retirement goals, one topic that we cover is legacy.
For many, legacy immediately conjures up images of money and assets — a holiday home on the coast, a trust fund for grandchildren’s education, a sizeable inheritance. Being able to leave financial assets behind is a privilege, and it is something that requires careful and responsible planning. But it is often seen as something that applies only to the very wealthy.
I have realised that this is not necessary the case. Having spent another weekend fishing and playing monster trucks with my four-year-old grandson, I was reminded again that legacy has very little to do with balance sheets. Those mornings on the riverbank, those laughs on the lounge floor — that is legacy. Time, presence, shared experiences. Those are the things that shape memories and values.
Reaching the end of one’s life with a massive investment portfolio may sound impressive. But if that portfolio came at the expense of living fully, loving deeply, and engaging meaningfully, one has to wonder if it can be different?
As part of our planning process, we help our clients get clear on whether they have enough to live their best life. And if they have more than enough, we encourage them to imagine what else might be possible. How could they assist those they care most about? How could they use their wealth deliberately, while they are alive, to make a difference?
This is not about reckless giving. Giving without thought or guidance can become a poisoned chalice. We have all seen examples where sudden or unmanaged wealth has damaged motivation, relationships, and even lives. Money without direction can be destructive.
But giving with care, structure, mentorship and clear intention can be one of the most rewarding things we ever do. It can change both our lives and the lives of the recipients. It can build confidence, teach responsibility, and strengthen family bonds.
A real legacy is values modelled consistently. It is work ethic demonstrated. It is generosity shown wisely. It is memories created intentionally. It is planning done properly so that when wealth does transfer, it does so smoothly and in alignment with your wishes.
Planning and managing how future generations inherit wealth will have a profound impact on their lives — and on the peace of mind we experience in ours.
In the end, we cannot take our money with us. But we can choose how we use it while we are here. And we can decide what it will represent when we are gone.
That, to me, is what a real legacy looks like.
—
Dirk Groeneveld, Certified Financial Planner
t. 083 261 9287
Recent columns:
Recent Comments