A Few of the Finer Things - October 2016

This month I’d like to highlight a great piece Raymond James recently put out titled, “Five Tips for First-Time Grandparents”. It is very rewarding for me to deal with the next generations in my client relationships-often the grandparents are great teachers of financial stewardship for the rest of the family. My own grandparents were very influential in my financial upbringing. My grandpa, Poppy Weiss, came to this country when he was eight years old-he earned a high school education and started out as an apprentice butcher; he ended up being a partner in the ownership of a chain of seven grocery stores and was a very astute businessman. He taught me a lot about when it was advantageous to take risk-he took a couple of large ones in his life that really paid off for him. My other grandparents, Mama and Papa Moses, taught me about the joy that parents and grandparents receive from their generosity to their family. They didn’t care how much money they left behind-they wanted to enjoy their life and experience all they could with their family as long as they could afford to do so.

I have many clients who have opened 529-College Savings Accounts for their grandchildren-as a parent who is in year four of twelve straight years of college tuition, I can wholeheartedly say that generosity from parents and grandparents is very much appreciated!

I have other clients that use their Donor Advised Funds to teach their grandchildren about philanthropy and leaving a legacy.

There is a lot of good stuff in this piece…I hope you enjoy it!

Five Tips for First Time Grandparents

- Gary Weiss, October 2016