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Archives for September 11, 2017

Teaching Investment Lessons

If you’re planning to leave assets to your children, you’re not alone. According to a recent report, baby boomers will pass on $30 trillion in assets in the next 30 to 40 years. And yet, according to a survey from RBC Wealth Management, 30 percent of U.S. households say they have no plan in place to pass on their wealth to heirs.

One reason for this lack of planning could be that, with a general rise in longevity expectations, many people may be unsure if there will be much of their assets left over to pass on after their death. But that’s the point: When you have unknown variables, having a plan in place can help you and your family be prepared for whatever financial situations life may bring.

It’s a good idea to start having “the money talk” with your children sooner rather than later, particularly if you anticipate leaving them investments. Many people in the younger generation might not have much experience with investments, particularly with a large amount of assets. Consider taking the opportunity to teach them what you’ve learned so they gain exposure under your tutelage.

A few ways to get started are to introduce them to your financial advisor, engage in general discussions about finances and share the lessons you’ve learned over time. It might be beneficial to reveal some of your failures or misjudgments while you’re at it, so they understand the value of your past mistakes and take care not to make them.

If you’re worried your children can’t responsibly manage a financial inheritance, there are several strategies you can deploy now. For instance, give them a test run by gifting smaller amounts to see how they manage the money. A potential advantage of this strategy is that gifts of money or property can help reduce estate taxes. Be sure to speak with a qualified tax professional about your unique situation before utilizing this strategy.

You may also want to consider estate planning vehicles such as trusts in order to structure how your assets will be disbursed. You should consult with a qualified estate planning professional who can help your heirs create a tax-efficient plan to work toward their own financial goals. A financial advisor can help you to create a financial strategy that you and your beneficiaries can be confident in. We are happy to work with you and a qualified estate planning attorney to help you pass on the legacy you choose.


The content provided here is designed to provide general information on the subjects covered. It is not, however, intended to provide specific legal or tax advice. Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.

Danielle Christenson


Danielle is dedicated to serving clients to achieve their retirement goals. As a Paraplanner, Danielle helps the advisors with the administrative side of preparing and documenting meetings. She is a graduate of the College of St. Benedict, with a degree in Business Administration.

Danielle is a lifelong Minnesotan currently residing in Farmington with her boyfriend, and their rescue Senior Pittie/American Bulldog Mix. She enjoys attending live music and traveling. Danielle is also an avid fan of the Minnesota Wild.