As we being the new year, I would usually write about one of my favorite topics: Goal Planning. Setting them, achieving them, not achieving them…all of it. But this year, I’m going to deviate from regularly scheduled programing and start the new year off on a more charitable foot.
For how much we like to talk about making money….and preserving money….in the world of personal finance, I’m going to spend this year talking about giving money away.
Yep. You heard me. Let’s make it, use it and then give it away.
I will be talking about what happens when we have an abundance of resources and the strategies to give it away strategically and intentionally. And I’m not just talking about money in the traditional sense of the word like putting a twenty in the collection plate. I’m going to take you on a journey through the mysteries of generational wealth and the mindset that can keep those assets passing down through the generations and hopefully not just “blown” in generation after us.
For my affluent peeps, we will dive into gifting highly appreciated assets, qualified charitable distributions, private foundations and using trusts as more than just doorstops.
For my peeps still grinding, we will dive into how to be the founder of generational wealth in your family so you can tee up the next-gen by using everyday planning techniques such as stepped-up cost basis, smart beneficiary designations and using real assets to make a real difference.
For all my peeps, learning to live with an abundance mindset is critical. Unknowingly, we can pass our toxic financial habits down to the younger peeps in our families and then wonder where they learned it from? And don’t get me wrong, when I say abundance mindset….I’m not giving anyone a free pass to not use a budget. You’ll find no girl math here.
Let’s also give away hard life lessons we learned after making bad choices with our money and sound financial education to our friends and family thus taking away the taboo stigma of “talking about money”. Living a charitable life isn’t just about the tangible assets we give away, but also the assets we can’t see yet use every day: sound financial wisdom.
So in the spirit of being charitable, I will go first and give freely to all of you my sound financial wisdom. I’ve learned a thing or two about people and how they interact with money after working with over a thousand people in the last thirty years of my career. While everyone is different, and not all situations are the same, there are a few universal truths I will share with you in hopes you will be charitable and share this knowledge with your peeps, too.
Kimberly Enders CFP® CPFA
CERTIFIED FINANCIAL PLANNER®
Enders Wealth Management
37800 Van Dyke Ave, Suite 125
Sterling Heights MI 48312
www.enderswm.com
#kimenderscfp
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The views stated are not necessarily the opinion of Cetera Wealth Services, LLC and should not be constructed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results.