In my job as a financial advisor, I am talking to a lot of people who are preparing to retire soon.

And one of the things that I, of course, am asking them is what are your goals for retirement?

What do you want this to look like?

Now, not always, but frequently, people often say that leaving some money to their kids one day

is important to them.

That's one of their goals.

Depending on your personal philosophy, this can be a great thing to do, but as we get deeper into that

conversation, I'll then ask them. I'll say, what would happen if their kids inherited all of their

money today? Would that help them or would that hurt them? A lot of people will think about it,

and they'll admit that while they have incredible children, they're not sure if their maturity or

money management skills are yet to a place where

they'd be okay to inherit this money. So they'll realize that financially supporting their children

is great if done the right way, but only if they have healthy money management skills.

So leaving a financial legacy to your children, it's more than just leaving an inheritance

or helping with a home purchase or even just an outright financial gift, the best

financial gift you can leave your children is an understanding of how to wisely manage money.

So in today's episode, Ready for Retirement, we'll walk through a framework of how you can think

about doing that to ensure that your legacy goals include more than just leaving a chunk of money

to your kids when you're gone.

This is another episode of Ready for Retirement.

I'm your host, James Cannell, and I'm here to teach you how to get the most of the life

with your money.

...