In just two decades, more than 84 trillion dollars will move from older Americans to GenX and Millennials. What does the future hold? How will the financial markets be impacted? On this edition of THE EXPLORING AGING PODCAST, Ray Sanders, Dr. Bill Pierce and Greg McNeece discuss what to expect with Emory Thomas, a retired financial planner and advisor, with decades of experience, as he shares valuable insights on THE GREAT WEALTH TRANSFER.00:00:00: Introduction to the episode00:00:36: The great wealth transfer00:01:10: Introducing the hosts and today's topic00:02:22: Emory Thomas's background and expertise00:03:52: The significance of baby boomers' wealth00:04:47: Transferring values along with valuables00:05:12: Are boomers ready to pass their wealth?00:06:48: Preparing children and grandchildren for inheritance00:10:02: Ensuring your wealth goes where you want it00:11:16: Emory's personal testament of faith and stewardship00:14:52: Managing clients and building relationships00:15:19: Legal instruments for managing wealth transfer00:18:28: The need for wills and trusts00:20:20: Understanding probate and key terms00:24:03: Revocable vs. irrevocable trusts00:25:40: Costs of preparing wills and trusts00:29:01: Estate planning through charitable organizations00:30:36: Communicating estate plans with family00:35:37: Tax implications in estate planning00:37:42: Introduction to key investing principles00:38:00: Defining financial goals based on age and needs00:38:48: The importance of diversification00:39:55: Types of income-producing investments00:40:57: Advantages of mutual funds00:42:28: Advice for young investors00:43:01: Discussion on cryptocurrency00:44:02: The risks of cryptocurrency00:44:29: Closing thoughts and upcoming topics

Ver todos los episodios