Put plainly, legacy gifting is using gifts of any sort to help establish your personal financial foundation and cement a financial legacy for future generations of your loved ones.
What will the financial reality be for your loved ones tomorrow? Next month? Next year? When you're no longer around? If your 6 year old son, daughter, niece, nephew, or cousin wanted to start a business when they were 21 would you be able to help them financially when that time came? When your son or daughter gets married will you be able to help them get established with a home? Are your children guaranteed to have student debt because there is nothing saved today and no path to savings between now and when they graduate high school?
Many people think about these questions, and according to a 2016 InfiniGift survey 4 out 5 people believe that both financial legacy for the future and financial foundation for themselves are very important. Yet, 69% of Americans have less than $1000 in savings. Combine that with the fact that 33% of Americans have NOTHING saved for retirement. Over half of adult Americans do not invest at all. Things just don't add up. If 80% of people think it is very important to have a financial legacy and a financial foundation then why don't more people save and invest? The resounding answer is people feel they don't have enough money.
InfiniGift recognizes these issues and makes it easy to use legacy gifting to help those you love begin building their financial legacy. Instead of needing your own money to start investing, you can now create a gift registry and your family and friends can gift you the stocks of your choice. It's easy. You already know how to create gift registries and your family and friends already know how to give gifts from registries. The big difference is the gifts you get from an InfiniGift registry can grow with you over time.
InfiniGift is coming soon (between you and I, we're targeting April 2017)! Make sure to join the wait list to be among the first to use the platform.