When we spend decades working hard to accumulate wealth, our primary concern is often making sure we have enough money to enjoy our own golden years. However, true holistic planning goes a step further. Generational wealth planning is a concept that shifts the focus toward the future. It is about ensuring your wealth lasts beyond your lifetime to provide for the people and causes you care about most.
At Chamberlin, we utilize a time-segmentation philosophy to help secure your financial future. This strategy simplifies wealth management by categorizing your money into essential buckets, known as "Wells". The investment vehicles you choose for each well are based on what you need the money to do, your financial time horizon, and your ultimate wishes and wants.
While the first three wells are designed to protect you during your lifetime, it is the fourth well that secures your family's future.
To successfully pass down wealth, you must first ensure you do not run out of money before you run out of life. A holistic retirement planner can help you set up the first three wells to give you peace of mind during your own retirement.
Once your immediate and long-term income needs are securely planned for, we focus on the final bucket. There is a fourth well that catches whatever is leftover in the other three when you pass away.
This is your Legacy Well, and it is all about the story you want to leave behind.
When evaluating the assets in your Legacy Well, we help you answer profound questions about your family's future:
In addition to any remaining value from your Liquid, Conservative, and Growth wells, your Legacy Well can include specific assets designed for generational transfer. This often includes life insurance, real estate, other long-term investments, and trusts. By officially defining this well, you ensure that your loved ones are taken care of and your values and wishes are respected when you are gone.
Creating a generational wealth plan is not a one-size-fits-all process; it requires a strategy customized to your assets, your risk tolerance, and your hopes and goals.
Take action now by scheduling a 20-minute, no-fee strategy session with one of our trained and certified Legacy Guides. They are trained to answer your questions and assess your needs with absolutely no pressure to sell you products.
If you qualify to work with one of our holistic planners, you will receive a complimentary Chamberlin mini-plan. This plan includes three free deliverables:
And don’t forget to ask for your free copy of the new book our CEO, Don Chamberlin, just released this spring! “The Wells of Wealth System” digs deeper into holistic planning with real-world examples and stories. We’ll cover the postage and handling, and get your copy to you as soon as we can. Schedule your call with Chamberlin Legacy today.