Reason for this Goal: Leaving a financial legacy in the form of a money inheritance to your children is one of the great reasons to develop a good net worth. Helping those you love and having your financial wealth continue to live once you are gone is a great plan and a fitting end to these 100 Life Goals.
But with this comes a responsibility to teach our children and loved ones that any money inheritance needs to be received and managed responsibly. It should not be expected or viewed as an entitlement; it should instead be received as a bonus that will enhance their own financial position, at whatever time in their life it should occur.
Being able to pass along a money inheritance to our children can benefit them in many ways:
It is the goal of many parents that their children are able to develop their own financial ability to live a great life, without dependence on a money inheritance. We live in a time where the future is uncertain, and our ability to leave a financial inheritance can leave us, as parents, with a great sense of accomplishment and reason to achieve a successful financial life.
Suggested Goal(s): Leave a money inheritance to each of your children.
Your Outrageous Goal: Leave a significant money inheritance of more than $ __________ to each of your children.
Return to giving back/legacy goals.