LEGACY PLANNING

Navigating the relationship between lifestyle and legacy

When people begin planning a financial legacy, they quickly come to the question “How much will be left?” The answer obviously depends on how much one spends, and that recognition leads to this key question: “How can I live my desired lifestyle in retirement and still leave a meaningful legacy?” At Harbourside Wealth Management, we educate you on strategies that support you in your planning efforts as you and your advisor’s work to answer this important question — so you can continue to make a difference in others’ lives, even after you’re gone.

Common Legacy Planning Objectives

When thinking about leaving a legacy, many possible purposes arise. Here are just a few, common reasons for leaving money to the special people and institutions in your life:

 

  • Provide a source of income so your spouse can live a certain lifestyle

  • Enhance your children’s overall financial standing or enable them to pursue specific dreams

  • Secure a stable financial future for your grandchildren

  • Fund education for children and grandchildren

  • Further a cause you care deeply about

  • Help an institution accomplish a specific goal