One conversation I seem to be having more often with clients has very little to do with investment returns or the markets.
Whether they ask it directly or I bring it up, the question is pretty simple: Can you afford to help your kids or grandkids now and still be confident you’ll have more than enough for yourself?
For generations, the idea of an inheritance was straightforward. Parents saved and invested throughout their lives, and whatever was left eventually passed to their kids and grandkids.
But after decades of tremendous market performance, many of these Baby Boomers have accumulated more money than they even imagined they would have.
And they’d like to see their adult children (in their late 40’s/early 50’s) and grandchildren (now in their 20’s) enjoy the money now, rather than 20 years onward.
If you’re fortunate enough to have more than you’re likely to need, there’s something really rewarding about helping your family now and actually getting to see the difference it makes.
Consider a hypothetical couple in their mid-70s. They’ve saved well, have plenty of retirement income and, after going through their financial plan, are reasonably confident they have more than they’ll need over their lifetimes. Their daughter, meanwhile, is 42, has two young children and is trying to buy a larger home.
Sure, they could leave her $250,000 in a few decades (when she’s in her 60’s) or give her $100,000 now, when she’s raising two kids and trying to buy a bigger home?
For a lot of families, helping now simply means more. And I’m seeing more and more clients come to that realization.
Instead of viewing estate planning strictly as “what happens to my money when I die?”, clients are beginning to ask a different question: what can my money do for my family while I’m alive?
It could mean helping with a first home, paying down student loans, or contributing toward a grandchild’s education. Perhaps helping with childcare, funding a Roth IRA for a child or grandchild who has earned income, or simply making annual gifts that allow the next generation to save more of their own money.
And these don’t have to be six-figure gifts to be meaningful. In 2026, an individual can give up to $19,000 per person under the annual gift-tax exclusion1, or $38,000 for a married couple using both spouses’ exclusions. Sometimes even a much smaller gift can make a real difference at the right time.
Maybe the best part is getting to see what the money actually does for your family. You can see the house you helped them buy, the education you helped pay for, or simply the financial breathing room you were able to give them when they needed it most.
Of course, giving money away shouldn't jeopardize your own financial security. Before making significant gifts, your plan needs to be stress-tested. What if you live to 95 or 100? What happens if one spouse needs long-term care? How much liquidity do you need? What are the tax implications? And are there smarter assets or strategies to use for the gift?
The idea isn’t to give away as much as you can. It’s figuring out what you can comfortably afford to give, and whether that money might mean more to your family today than years from now.
Leaving a meaningful inheritance to your family is a wonderful thing. But if your financial plan says you can afford to help them today, there’s something pretty special about getting to enjoy the gift right along with them.
OP 26-1144
1Source: gift exclusion limits (IRS Gift Taxes FAQ)
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