Ready to learn how to make a lasting and meaningful legacy for your loved ones? I had an in-depth conversation with Myra Salzer from the Wealth Conservancy. Myra brings a unique perspective as a financial advisor who specializes in helping clients navigate life after inheriting significant wealth. We explore not just the financial implications but the deeply personal challenges that can come with inheriting a fortune.

Myra shows us how inheritors are similar to retirees in that both are financially independent, yet they differ significantly in their experiences. Unlike retirees who have worked, saved, and planned, many inheritors have never experienced earning and managing money themselves. This usually leads to a lack of control over their finances, emotional challenges, and pretty complex social relationships. 

We also get into the importance of transparency and avoiding surprises when planning an inheritance. Myra shares invaluable advice on how wealthholders can communicate with beneficiaries to build trust and strengthen relationships. For those of us planning to leave a financial legacy, this conversation is a must-listen to ensure that our wealth becomes a true blessing for future generations. 

Outline of This Episode

• [0:20] Meet Myra Salzer
• [1:18] Myra’s specialty
• [3:05] Inheritors’ limited control
• [4:48] Differences between inheritors and retirees
• [6:00] Social challenges where inheritors often struggle
• [8:20] Avoiding surprises in inheritance planning
• [14:00] The value of smaller, meaningful gifts

Resources & People Mentioned

• The Retirement Podcast Network
• Book: Die with Zero

Connect with Myra Salzer

• Myra’s Website - The Wealth Conservancy
• Myra’s YouTube Channel
• The Inheritor’s Sherpa

Connect with Benjamin Brandt

• Become a Client: www.retirementstartstoday.com/start
• Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/
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• Go deeper into retirement planning with Ben at www.RetirementIncome.University

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