Oct 25, 2019
If you’re under 45, your parent’s inheritance might not be part of your financial planning. That’s understandable. Inheritance is uncomfortable to think about and not an easy topic to bring up.
But your financial future might just depend on the inheritance you’ll receive. Whether it’s paying off student loans or your mortgage, starting your own business or paying expensive medical bills–they can either be a temporary problem or a lifelong worry.
It all comes down your stewardship of your parents’ legacy. In this episode, you’ll find out how to inherit as much as possible so your parents get to make the impact they seek.
You’ll also find out how to bring up the topic and make sure both you and your parents have peace of mind around their inheritance.
Show highlights include:
- The biggest reasons you might not inherit as much money as you think (and who takes the money instead). (4:45)
- How to avoid paying out your parents’ inheritance to Wall Street. (11:24)
- The scary math of how your inheritance can evaporate at the hands of the IRS. (13:38)
- 5 questions you can ask your parents to help them adjust their decisions to create lasting wealth in your family. (16:55)
Remember to download Grandma’s free wholesome wealth recipes book by dropping into www.grandmaswealth.com. Time-honored wealth strategies served with a helping of balance and trust.
If you’d like to see how Grandma’s timeless wealth strategies can work in your life, schedule your free 15-minute coffee chat with us by visiting www.grandmaswealthwisdom.com/call...just like Grandma would want us to do.
Here are the 5 questions mentioned in the show:
- If you had a choice, would you rather give the wealth you’ve worked so hard for to the IRS, Wall Street, a nursing home or to family?
- What if you had 2 pockets (one in your right pant leg and one in the left)? What if the left pocket was only accessible by you? The IRS, hospitals, nursing homes, children, no one could get access to it unless you gave them permission. What if the right pocket was one that anyone could reach into at any time? How much money would you move from the right pocket to the left pocket?
- Did you know that the way rich people get rich is often because they keep their money in the family - passing it down from generation to generation in a responsible way?
- If there was no cost, wouldn’t you want to know how to protect yourself and transfer your wealth to family instead of outside the family?
- I recently heard a couple talking about these very issues. Would you be open to meeting with them via phone to learn more?