Our Insights


Your Life Your Legacy Quarterly Newsletter 02/2018

“Life is one big transition”- Willie Stargell

This quarterly newsletter we wanted to relate with some of our clients that have gone through a meaningful transition or are approaching one. Some meaningful transitions we encounter with clients can include; becoming a parent, job change, divorce, someone passing away, and retirement.

From our experience, here are a few suggestions:

Acknowledge the emotions.

“Take inventory” of what you have and where you stand.

Identify a plan and work the plan.

Use your professionals

Be easy on yourself. “Even if you stumble, you are still moving forward”

As an example, let us look at retirement:

Emotions of uncertainty and loss of “work-value” can show up. A nurse that finds value in helping and caring for others, could lose that feeling of gratification. An executive could lose the gratification of accomplishing goals.

“Take Inventory” of your expenses and income, assets and liabilities.

Identify a plan and work the plan. For the nurse that likes helping others, she could move closer to her grandkids, volunteer at a food bank, or get a pet. The executive could work on a board of a favorite non-profit. Both will need a “financial” plan if they are uncertain of having enough income to pay all new expenses.

Use your professionals- trusted professionals can be a sounding board for coming up with options and strategies to help you reach your goals. One strategy may be to downsize to a smaller one-story house. Taxes could then be owed, let’s also get your accountant involved.

Be Easy on Yourself- We often hear “I should have done this, I should do this”. “Shoulding” on yourself is never a good idea. Brush it off and let’s enjoy today

Your Life

Do you feel confident that you have enough money to retire on your own terms? How do you want to spend your time in retirement? From our experience with helping people retire, we have seen many different retirement lifestyles. For instance, we have a couple who fulfilled their dream to actually travel the world. They sold their home over 10 years ago, and have been traveling the United States in an RV and taking cruises all over the world.

We have another couple building their dream home in Costa Rica. Recently we worked with a couple, and by using our planning tools we discovered that they could spend an extra $10,000 per year on travel. We currently have clients in over 24 different states. Many have moved out of California to retire early and purchase more affordable retirement homes. What would it take for you to feel the confidence to retire early or take that trip you have always dreamed about?

Your Legacy

What is a “living legacy”? Unfortunately, we will all experience death & taxes in our lifetime. If we live a relatively healthy retirement, we will most likely pass along some part of our investment portfolios to kids, grandchildren, charities, and/or nieces and nephews. If the only real money your beneficiary will have is your inheritance, then it won’t be long before they spend that also.

Through our client’s experiences, we have witnessed the power of creating a living legacy. A few examples include:

  • BEING THERE: we recently had a client lose both of her parents within a twelve-month period. She was able to retire early and care for both of them in their final year of life.
  • DONATE TO A CHARITY: we recently had a client donate to a memorial in the name of her parents who suffered during the Holocaust.
  • FAMILY RETREAT: we have clients who take their kids and grandkids on a vacation every year. They pay for the flight and hotel accommodations.
  • PAY FOR EDUCATION: we have a client who is paying for his grandkid’s education even-though the parents have the money for their college. We like the idea of leaving behind a meaningful legacy where one is able to share memories and experiences with future generations. We challenge you to create a living legacy of your own.