Building a Legacy That Outlives Your Wealth

We often catch ourselves trapped in the notion that we are helping our children simply by giving them money. While helping them by giving financial assets is undoubtedly a blessing, focusing solely on money means missing the greatest opportunity of all: passing along the values that create true abundance.

Money can disappear in an instant. Resources can be depleted by unexpected circumstances, healthcare needs, or choices out of our control. If I should pass at an early age—as my own father did—I want my children and grandchildren to achieve profound success without relying on an inheritance from us.

True generational wealth is not about what you leave your family in dollars; it is about what you leave in them. It is built on life lessons, memories, strong values, Christian principles, and the financial habits of stewardship and generosity.

Why Purposeful Legacy Planning Matters

As a financial advisor for 24 years, I have helped countless families navigate their financial lives, and I see this as an absolute privilege to serve in this role. But my deepest understanding of legacy doesn't come from a textbook. It comes from life.

Approximately nine years ago, my wife began her journey with ALS. This diagnosis fundamentally reshaped our world, our perspective on the future and our financial priorities. It forced us to look at what truly lasts.

More recently, our family lost an uncle, my late father’s brother, who had faithfully, unknowingly served as our family patriarch, even though he never had children of his own, since my grandfather passed away in 2005, and my father had passed away when I was just 26 in 1998. For our immediate family, I desire to fill the shoes of patriarch with intentionality; please help hold me accountable to this commitment. Stepping into the patriarch role has brought immense reflection, and while this carries privilege, honor and joy, it also carries an incredible responsibility. With our first grandchild arriving this July, I am acutely aware of the baton being passed through the exciting start of the next generation and the loss of a loved one from the past generation.

When I look at the future, I don’t just want to pass on dollars. I want to pass a roadmap for independent, purposeful living.

The Blueprint: Core Financial Principles to Pass On

I started my own investing journey at age 18. That single decision, introduced by my father, taught me the incredible power of compounding returns, the value of investing and delayed gratification. These disciplines were reinforced by my parents-in-laws when I married my wife, Jennifer. I am deeply grateful for both our families and understand that not everyone has this privilege, but we each have the ability and I’d say responsibility to provide something to our lineage and/or our loved ones that look to us for guidance. If you want to prepare the next generation for lifelong financial independence, focus on teaching these foundational concepts early:

• Compounding Returns: Show them how money multiplies over decades. There is something truly powerful about this.

• Practice Delayed Gratification: Teach them to prioritize long-term peace over immediate, impulsive spending.

• Divide the Income: Establish a simple budget system based on three distinct pillars: Spending, Saving, and Giving and encourage prioritizing them in reverse order than the culture tells us; maybe giving, saving, spending produces more success and satisfaction.

•  Redefine Retirement: Teach them that financial independence is not just about stopping work. It is about gaining the freedom to pivot toward a higher purpose.

•  Normalize Money Talks: Make honest financial conversations a natural, comfortable part of your family dynamic.

The Grandparent Advantage: Turning Concepts into Habits

As I anticipate this exciting next era of life as grandparents, I’ve realized that, as parents, we are often too busy managing the day-to-day chaos of a household to teach deep financial literacy. Grandparents are uniquely positioned for this. We often have more time, patience, and perspective to effectively turn abstract financial concepts into concrete, lifelong habits.

If you want to actively build these habits with your grandchildren, consider bringing them into your financial world through some useful tools:

• Offer a Savings Match: Match every dollar your grandchild saves from chores, allowances, or summer jobs.

• Use Visual Tools: Use the "three-jar system" (clear jars labeled Spend, Save, and Give) so young children can visually see their money grow.

• Open Custodial Accounts: Setup UTMA/UGMA accounts, 529 plans and/or open a Roth IRA the moment they have earned income.

• Gift Shared Ownership: Buy fractional shares of stock in companies they already love—like Apple, Disney, or Nintendo—to get them excited about investing.

• Share Personal Money Stories: Tell them about your first job, your biggest financial mistake, and how your past savings allow you to enjoy outdoor adventures with them today.

The Ultimate Goal: True Stewardship

An inheritance can feed a family for a season, but strong values and disciplined principles will sustain them for generations. By being intentional today, we can give our children and grandchildren the tools to build their own successes, practice radical generosity, and carry a lasting legacy far beyond ourselves.

We at Stewardship Advisors are here and happy to help serve you, so you may serve the loved ones in your lives and provide the legacy that you would like to provide.

Schedule an introductory phone call with Jay Kready at this link: Jay Kready – Introductory Phone Call

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