Real Estate Investments Create a Lasting Legacy
Forbes—the publishing company which self-defines its main topics of interest as “finance, industry, investments, and marketing”—must be doing something right. Its original articles and insights have been engaging readers without skipping a beat since 1917—making it a rare survivor in these days of media churn and burn. Recently, it offered a commentary on a subject to which hard-working homeowners are often too busy to pay much attention: the building of a lasting legacy. Given the mounting demands of everyday living, it’s likely that most of us are content to put off any worry about “legacy” issues until later.
It Takes Hard Work
Readers who happened upon “How Real Estate Can Help You Achieve a Lasting Legacy” may have been persuaded otherwise. In it, the author offers a down-to-earth (and convincing) list of reasons why, for those whose wealth creation is the product of their hard work over many years, real estate investments they are able to pass on can constitute one of the “inherently tax-efficient” investments that can be a cornerstone of a legacy that’s more than a simple bequest.
Be a Good Steward
Achieving the “lasting” portion of that goal depends on “teaching stewardship” to the next generation: “starting early and then, later on, explaining your financial position, goals, and plan.” The passing on of legacy goals and responsibilities—and the roles successors will have in it—will elicit a greater impact “you will have on generations to come.” It can be a satisfying thought that the benefits of a lasting legacy needn’t be reserved exclusively for the families of the ultra-rich.
Beginning to think about the family home and investment properties in terms of their enduring value may create what subtly develops into a differing view of the future—one with rewards of its own. The Forbes article describes the particular (tax and other) benefits that make real estate an intrinsically appropriate starting point. If these ideas—and real estate’s place within them—sound like they might be worth exploring further.
