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Curious about how one of the world's most successful investors plans to distribute his wealth? This WSJ article gives us a preview of Warren Buffett's will, shedding light on his thoughtful approach to legacy planning. Planning for the future is crucial, and having a comprehensive will is just the beginning. We're here to help you create a personalized estate plan that reflects your values and secures your family's future. Don't leave your legacy to chance. Let's discuss how to effectively plan for tomorrow, today. Schedule a consultation with us and take control of your financial future. #EstatePlanning #WarrenBuffet #FinancialPlanning #WealthManagement #LegacyPlanning

Today, I want to share the incredible story of Geoffrey Holt from Hinsdale, New Hampshire - a tale that perfectly encapsulates the power of frugal living, smart investing, and the impact of a silent legacy. The Unassuming Millionaire Geoffrey, a caretaker at a mobile home park, lived a life far from the glitz and glamour often associated with wealth. He was a familiar, yet unremarkable figure in his community, known for his simple lifestyle and humble demeanor. Secret Wealth Through Wise Investing Behind this facade, Geoffrey was a master of finance. Starting with a modest nest egg from his early career, he invested wisely in mutual funds, guided by insights gained from diligently reading The Wall Street Journal, The New York Times, and Forbes. His strategy? Frugality and smart investment choices. Continuous Learning: A Key to Success His story underscores the value of continuous learning, especially in financial literacy. Regularly consuming financial journals, Geoffrey stayed informed about market trends, enabling him to make astute investment decisions. A Legacy of Giving In June, after Geoffrey's passing, his secret came to light: he left his entire fortune, a staggering $3.8 million, to the town of Hinsdale. His contribution, set to fund health, education, recreational, and cultural projects, will have a lasting impact on the community. Lessons for Us Geoffrey Holt's story is a powerful reminder that wealth isn't always visible and that the most impactful legacies can come from the most unassuming individuals. It speaks volumes about the importance of living within our means, investing wisely, and thinking about the legacy we wish to leave. What We Can Learn 1. **Frugality is a powerful tool** in wealth accumulation. 2. **Investing wisely** and diversifying can lead to substantial growth over time. 3. **Continuous learning** and staying informed is crucial in financial planning. 4. **Legacy** is not just about what we leave behind in wealth, but in the impact we make on our community. Your Thoughts? What are your takeaways from Geoffrey Holt's story? How does it inspire you in your personal and professional financial journey? #Investment #FinancialLiteracy #LegacyPlanning #FrugalLiving #InspirationalStories https://lnkd.in/gwKcCWNk

In our latest article, we explore how families can avoid the "strategy trap" in wealth management, where strategies focused solely on asset growth and tax reduction may overlook long-term goals. Discover how Lake Street Advisors helps families align their wealth management with deeper purposes, aiming to achieve financial security, family unity, and philanthropic impact. Read the full article to learn how to create a balanced approach to generational wealth. #WealthManagement #GenerationalWealth #FinancialPlanning

On March 12th Highland was delighted to welcome a nice group of friends of the firm to the inaugural session of our “Let’s Talk” lunch series. This series is meant to be an enjoyable forum for education and discussion on issues related to wealth, transition, generosity, and family. This first session’s topic was “Transitioning Well,” and we considered foundational principles around transfer, treatment, and timing as families move through the process of transitioning wealth to future generations and charitable causes. It was a privilege to share perspectives and stories with our guests, while enjoying lunch and beautiful spring weather.   Looking forward to the next “Let’s Talk” session!   #familywealth #Highlandconsultingassoc #letstalk Highland Consulting Associates, Inc. was founded in 1993 with the conviction that companies and individuals could be better served with integrity, impartiality, and stewardship. Today, Highland is 100% owned by a team of owner-associates galvanized around this promise: As your Investor Advocates®, we are Client First. Every Opportunity. Every Interaction.   Highland Consulting Associates, Inc. is a registered investment adviser. Information presented is for educational purposes only and is not intended to make an offer of solicitation for the sale or purchase of specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Curious about how one of the world's most successful investors plans to distribute his wealth? This WSJ article gives us a preview of Warren Buffett's will, shedding light on his thoughtful approach to legacy planning. Planning for the future is crucial, and having a comprehensive will is just the beginning. We're here to help you create a personalized estate plan that reflects your values and secures your family's future. Don't leave your legacy to chance. Let's discuss how to effectively plan for tomorrow, today. Schedule a consultation with us and take control of your financial future. #EstatePlanning #WarrenBuffet #FinancialPlanning #WealthManagement #LegacyPlanning

✨ In this intimate interview with Steve Randall, Rick Nott, CFA, CFP®, CPWA® of Angeles Wealth Management, the private wealth division of Angeles Investments, shares the story of his career in wealth management. Rick lends insight into what inspired him to become an advisor and his early fascination with the "unique way that assets, family values and culture were passed down." He also discusses his work with high-profile UNHW clients, the rise of charitable giving among this client segment, his views on championing diversity in wealth management and more. 📰 Keep reading on InvestmentNews: #wealthmanagement #UHNW https://lnkd.in/gh-pzuAd

🌟 Elevate Your Approach to Wealth Transfer 🌟 Discover key insights in ‘THE $93 TRILLION WEALTH TRANSFER’ via Forbes. Learn how the wealthiest plan their legacy, balancing family, philanthropy, and tax efficiency. 🏦💡 Be intentional in your estate planning. It’s not just about wealth distribution; it’s about making a meaningful impact. 🌍❤️ #WealthTransfer #EstatePlanning #IntentionalWealth #ElevateYourApproach 💼🚀

Creating a successful wealth transfer strategy involves much more than just the movement of assets. It's about preparing the next generation to manage and grow their inheritance responsibly. Here's how you can make wealth education a part of your legacy: 1. Incentivize Through Trusts: Use your trust to encourage positive behaviors. Provisions for education, entrepreneurship, or home ownership can align your values with the beneficiary's actions. Be wary, though, of over-controlling – it can lead to resentment. 2. Involve Beneficiaries in Trust Management: Engage the next generation by making them co-trustees. This involvement teaches responsibility and provides valuable experience in managing and protecting wealth. 3. Foster Leadership through Family Entities: Create an LLC or FLP and involve your children in managing it. This approach not only brings transparency and leadership skills but also teaches about investments and asset management. 4. Promote Philanthropy: Involve your heirs in charitable endeavors. It's a great way to instill values of giving back and provides practical experience in managing money for a cause. Remember, it's not just about the wealth you leave behind, but the values and skills you impart. Start these conversations early, and ensure your legacy is more than financial – it's educational and value-driven too. #wealthtransfer #financialplanning #familytrust #philanthropy #legacyplanning #assetmanagement #entrepreneurship #socialnetworking #technology #innovation #pnwa #investing #creativity

Developing a robust giving strategy can feel intimidating, but that doesn't mean you should shy away from it. In her latest Kiplinger article, Nicole Jackson Leslie, Managing Director and Senior Wealth Planner at BBH, offers a step-by-step guide on what to give, how to give, and how to know who you should give to. Read the full article here: https://bit.ly/4bzbKRJ

🔍 If you don't have access to the full Forbes article titled 'THE $93 TRILLION WEALTH TRANSFER', here are the key points to take away: 1️⃣ Massive Wealth Control: Baby Boomers and their elders control an astonishing two-thirds of America's household wealth, totaling around $93 trillion. 2️⃣ Strategic Legacy Planning: The article highlights how some of America's wealthiest individuals, aged 77 to 87, are meticulously planning to ensure their wealth benefits charities and heirs more than it does the taxman. 3️⃣ Phil Knight's Perspective: Nike co-founder Phil Knight, with a net worth of $39.5 billion, shares his own challenges in philanthropy and the complexities of estate planning. 4️⃣ Advanced Wealth Transfer Techniques: Insight into various sophisticated techniques like GRATs, FLPs, IDGTs, etc., used to minimize estate taxes and facilitate efficient wealth transfer. 5️⃣ Billionaire Estate Strategies: Exclusive insights from billionaires such as Charles Koch, Harold Hamm, and Barry Diller on arranging their legacies and employing tax-saving strategies. 6️⃣ Philanthropy’s Role in Estate Planning: A look at how philanthropic efforts serve as an effective tool for the wealthy to manage their taxable estate. 7️⃣ Critique of Tax System Loopholes: The article includes discussions around the current tax system's loopholes and how they disproportionately benefit the wealthy. 8️⃣ Evolving Estate Tax Landscape: An exploration of the future implications of wealth transfer in the U.S., considering the current and potential changes in legal and tax frameworks. Understanding these strategies and perspectives is key to elevating your approach in these areas. 🌟