Memorial Day: honoring the ultimate legacy

With Memorial Day approaching, our team has been thinking about, and discussing what each of our legacies will be. Specifically, we’ve been figuring out what it would take to put the finances in place to create a legacy that our family, friends and – if possible, our community – will benefit from. We’ve also been looking at what could derail our plans.

While the results of our own legacy building are ahead of us, many of the people we work with have already realized the opportunity to make a positive contribution to those the people and causes they care about.

For example, a few years ago, a business owner asked us to help plan for his retirement. As we discussed his goals, he said he wanted to leave something for each of his kids and give back to his community, but wasn’t quite sure exactly how to do it. In addition to implementing a plan to create his legacy, he began teaching his children about how to best use their money, and how to plan for their futures. As a result, he and his children created a foundation – financed by our client and managed by his children – that helps their local community through various monetary donations.

Thanks to this man and his family, the foundation they built is benefiting hundreds of lives throughout the community. While it all started with one man taking the time to consider what he wanted his legacy to be, everyone in his family not only has taken care of their personal financial future, they have created a legacy for their community based on kindness and generosity.

So, the question we ask is, “What can you do now to create the legacy you want?”

While working with our client, we also asked him to consider what would happen if he didn’t wake up the next day. He said he never thought of that. Well, since the very beginning of our work 30 plus years ago, we have found that most people take for granted that they will wake up tomorrow… they all seem to think, “It won’t happen to me.”

Unfortunately, we have seen what happens when families and businesses must deal with the sudden absence of a parent or owner. The financial struggles caused by the lack of a contingency plan most often destroy the possibility of leaving a legacy, and always cause turmoil and upset for those you care most about. While it may not feel like the most pleasant subject to deal with, it is important to take a little time to create a contingency plan for the sake of our families, and the legacy we wish to create.

Our team at Pharmacy401(k) is committed to helping you achieve the very best and prepare for the worst. In a few short minutes we can help you understand how easy it is to set up a plan for creating a lasting legacy of your own.

To talk with a financial planner about what your legacy can be, give us a call today.


 

In honor of Memorial Day, we offer up a moment of silence, for all the brave men and women, who have given the ultimate sacrifice to protect our freedom. Our hearts go out to their friends and families this Memorial Day.

Warm Regard,

Tyler Campbell