Finance
Creating a Financial Legacy: Practical Steps for Lasting Impact
Published by Jessica Weisman-Pitts
Posted on November 26, 2024
5 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by Jessica Weisman-Pitts
Posted on November 26, 2024
5 min readLast updated: January 28, 2026
By Juan Luis Rosas III, Financial Advisor
Las Colinas, TX Office | Northwestern Mutual
In today’s fast-paced world, the concept of leaving a financial legacy has gained increasing importance. Research from Northwestern Mutual’s Planning and Progress Study revealed that approximately 25 percent of Americans expect to leave an inheritance to their heirs. This statistic not only highlights the desire to pass down wealth but also the various forms a legacy can take. Whether it’s monetary assets, investments, or philanthropic contributions, everyone will inevitably leave some type of legacy—financial or otherwise. With thoughtful planning and guidance, you can shape a legacy that aligns with your values and goals.
Leaving a financial legacy extends beyond monetary transfers—it encapsulates your values, priorities, and hopes for future generations. A well-planned legacy communicates the lessons learned throughout your life, guiding your heirs on how to manage and appreciate their inheritance. It also contributes to your family’s financial security and stability, ensuring that your loved ones are well-prepared for the future.
Moreover, a financial legacy can have a far-reaching impact outside one’s immediate family. Considerations of charitable giving, community investments, and educational funds can all contribute to a more meaningful legacy. By understanding the significance of leaving a financial legacy, you can approach this endeavor with purpose and intention. Here are some steps to consider:
Juan Rosas
About the advisor:
**Juan Rosas, CFP**, is an experienced financial advisor and the Managing Director of Northwestern Mutual’s Las Colinas Office. He oversees a committed team of 25 advisors and 15 support staff, working closely with clients to navigate the complexities of financial planning, wealth management, and insurance planning.
A financial legacy refers to the wealth and values you leave behind for future generations, which can include monetary assets, investments, and philanthropic contributions.
Estate planning is the process of arranging for the management and disposal of your estate during and after your lifetime, often involving wills, trusts, and beneficiary designations.
Charitable giving involves donating money, assets, or time to support causes or organizations that benefit the community or society at large.
Beneficiary designations are instructions included in financial accounts or insurance policies that specify who will receive the assets upon the account holder's death.
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