Parents Say Money Isn't the Most Valuable Inheritance
Would you prefer that your children inherit an unmortgaged house or your jocular sense of humor? Most people might say their children could use the laughter more than the house, suggests an international survey by HSBC Insurance and Oxford University's Institute of Ageing. Both employees nearing retirement (between 40 and 60 years old) and retirees (between 60 and 69 years of age) say they would rather pass on their personality traits than money.
Some 81 percent of respondents in the United States said they want their heirs to inherit personal values like spirit/sense of humor (38 percent), knowledge (20 percent), religion (16 percent), and commitment to supporting the community (7 percent), according to an HSBC Insurance press release. Just 19 percent of Americans surveyed want to leave heirs property (13 percent) or money (6 percent), the release said.
This inclination to distribute values rather than cash or property also is characteristic of Europe, Asia, Africa, and Latin America. "We want to pass on our perspective on life and our knowledge from generation to generation," says Stephen Green, group chairman of HSBC.
Tell us, what do you plan to bequeath to your loved ones?
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PRACTICAL ADVICE FOR A WEALTHY LIFE (FOR EVERYMAN)
I’ve always been a little skeptical of the new-agey books my wife reads about self-help or changing your life. But she was so impressed by this one (James Ray’s Harmonic Wealth) that I agreed to read it. AND I CAN HONESTLY SAY THAT IT ROCKED!
What I liked about James Ray was that he didn’t just sell you all these fluffy ideas and leave it at that. James Ray breaks it down into applicable lessons and examples and even provided an online study course that helped me to apply the book to my life and come up with ways I can be more “Harmonically Wealthy” – wealthy in all the “Pillars” or areas of my life. James Ray doesn’t just address the money issues or the relationships – he says that all “5 Pillars” – financial, relational, mental, physical, and spiritual - have to work in harmony for you to achieve a truly wealthy life. I like that approach because it makes sense to me and is about results, not hand-holding.
Here’s the link to his website: harmonicwealth.com/read
Fantastic! yes we need to look at all 5 pillars of life not just the financial one.I have been to the Harmonic Wealth Weekend, watched the movie and have started the book - it is awesome and shows us how to focus on what we want rather than spending all of our time focus on what we don't want (that is often our reality) - so focus on desire not reality - thanks James!
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