Generational Wealth Transfers, Planning, and Retirement

James Sawdon
James Sawdon

One of the highlights of the wealth management business is working with the children of clients. The opportunity to serve multiple generations of a family is not something we take lightly and is an opportunity to pass knowledge, family history, and wealth to second, third, and in a few cases for us…fourth generations. We recently had the opportunity to work with two daughters of a client that had passed. These two daughters are very close and have had very different career paths that have allowed them to have great success as they approach their late 50s/early 60s. After recently inheriting substantial funds from their parents, we had the opportunity to meet with them and discuss what their plans are for the future. The important question for them to consider is: what are their goals and priorities for this next chapter of their life as they approach retirement?

Generational Wealth Transfers, Planning, and Retirement

Some of the common goals and priorities we see as clients approach retirement include:

  • Securing income for their retirement years
  • Planning for additional travel and leisure expenses
  • Purchasing a second home in a different area of the country and/or downsizing from their current home
  • Thinking about wealth transfer opportunities to children or relatives
  • Charitable giving opportunities and strategies

Our experience has shown that a proactive and purposeful approach to planning can provide guidance and confidence no matter what the current or future financial situation might hold. Sustaining wealth over generations will not happen by itself and requires intentional planning. We would be thrilled to work with you and your family to develop that plan to provide you the insight and confidence you are looking for.

A few topics to consider include:

7 Common Planning Topics

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