Page 22 - BusinessWest June 13, 2022

Creating a Legacy Plan
A Secure Lifestyle Isn’t All That You Can Leave Behind
LBy Joe Malmborg
eaving a legacy goes far beyond the
financial value of your investments. You’ve worked so hard to provide a
secure lifestyle for your beneficiaries. But it is oftentimes not the most valuable benefit our clients wish to leave behind. Your values and phi- losophies of life are what you ultimately desire your beneficiaries to inherit.
The following exercise can help guide you in fulfilling your legacy plan.
Getting Started
It doesn’t take much to start capturing valu- able memories — just a notepad, an audio recorder, or a video camera. While you could write down all the answers, it might be easier and more fun to record them for future generations to hear or, better yet, see. Other than that, the best advice is to be open and honest about your thoughts and experiences. While recording your memories might feel a bit forced at first, you’ll
be surprised at how easy it flows once you get started.
Keep in mind that you don’t need to answer all of these questions in one sitting; this guide can be used over the course of months or even years. You can decide at what pace you want to address these questions, as well as any others
that might come to mind. If your children are interested in participating, it can be even more fun. They can use this guide to interview you, and if they have other questions, let them ask.
Questions About Your Values
What values are most important for you to exhibit and to pass on to your kids?
• How have these values helped you in your life?
• How did you learn these values?
• What’s a good way to teach them to kids? • Who are your heroes? Why?
• What do you admire about your kids?
What do you look for in a good friend?
What has helped you most throughout your life?
• Books
• Family, friends, mentors
• Skills, knowledge, behaviors • Organizations
• Other
What are some of the best financial decisions
you’ve ever made?
• How about your best financial habits or practices?
• Where did you learn about money? What are
“
goes far beyond the financial value of your investments.”
some of the lessons that you picked up?
Questions About Your Life
• What are you most proud of in your life?
• What might you change if you could do it over again?
• What would you like people to think when they
Legacy
Continued on page 48
Leaving a legacy
“The two most important days in your life are the day you were born and the day you find out why.”
-Mark Twain
Every time we help a client feel more comfortable about their retirement, we know why we were born.
Call us... We’ll make you comfortable with your retirement planning!
131 Wayside Avenue West Springfield, Ma 01089
413.297.6074 | WWW.MALMBORGWEALTH.COM
Securities and Advisory Services offered through Commonwealth Financial Network. Member FINRA, SIPC, A Registered Investment Adviser
JOE MALMBORG
Principal Financial Advisor 413.297.6074
22 JUNE 13, 2022
BANKING & FINANCIAL SERVICES
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