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What Does Legacy Really Mean?

What Does Legacy Really Mean?

| April 23, 2019

Whether you're a Baby Boomer, Millennial or Gen-Z, the term "Legacy" can take on a variety of meanings.

Personally, legacy is a word that has resonated with me over the years for various reasons. To me, the word legacy captures the lessons learned from my mother and father as they raised me to live the values that guide everything I do.  Legacy also represents the type of father I want to be daily for Elizabeth and Nathan to help them be ready for their lives ahead as they graduate schooling and pursue the occupations and families they both want to have.  Additionally, legacy epitomizes the way that I run this company. Like my father, I strive to serve others and provide value as they each pursue their goals and dreams.  A lasting legacy defines exactly what our team at Webb Financial Consultants is dedicated to accomplish on a daily basis. But that definition of legacy is different for each person we serve...


For the Traditionalist and Older Baby Boomers

In the years following World War II, the increase in birth rate sparks a generation we lovingly call the Baby Boomers. For this older generation, legacy takes on the meaning of how their children and grandchildren will live and prosper after they're gone. The financial stability through trust funds and inheritances is a crucial part of leaving a legacy to their future generations. But this generation also has a very deep rooted set of values and passing these values onto their children and grandchildren has been my experience when working with them. 


For the Younger Baby Boomers and Gen-X

 Younger Baby Boomers and Gen-X (1960-1980's) agree with the description above, but also see legacy as a term that both describes the past and the future as they care for aging parents as well as parenting their children. While many who fall in these categories value the work ethic of their parents, they also want to find a better balance with work and family going forward as compared with what they experienced.  Pursuing this life balance, especially in regards to their occupational and financial pursuits, means better understanding of the options available to them and then trying to make the best decisions in order to pursue their balanced approach to life.


For the Gen-Y and Millennials

Gen-Y and Millennials care about living their best life with purpose. Dollar signs don't drive them as much as meaningful work does. Legacy isn't necessarily something they are spending a lot of time thinking about. Instead, their focus is on the present and making a name for themselves now. However, they definitely wouldn't want to drift hap-hazardously through life without direction. Yet, without a clearly defined plan for their financial future, they could be at risk of doing just that. 


Legacy really is...

Across generations, the greatest misconception about legacy is that it is only about what you leave behind after you die. However, legacy is not only about financial security--it is about passing forward your beliefs, faith, values, and relationships. Legacy isn't about death. It's about your life! Living the best version of yourself now, planning for where you want to be, setting goals and achieving all you've dreamed of and then, leaving that legacy to those you love. But here's the catch–You simply cannot accomplish this alone. You need others to come alongside you to help you achieve these important personal pursuits.

After working in this profession after almost thirty years, it is my passion to help people create and pursue a lasting legacy, however they define it.  And while the focus of the value Webb Financial Consultants adds relates to financial issues like investments, taxes, risk management, and generational planning, the relationships we have with our clients allows us the opportunity come alongside them as they pursue various other important endeavors such as the education of their children, making a difference in the communities where they live, completing a triathlon they never thought they could accomplish, or caring for a cherished family member in their last days.  We are so honored and thankful to walk along with the clients who have trusted us with far more than their finances and look forward to walking with many more new persons/families in the future!