One of the most common questions I hear from parents and grandparents isn't about investments. It's about family.

How do we prepare the next generation to be financially responsible?

Many people spend years building wealth with the hope of creating opportunities for their children and grandchildren. While those assets can certainly make a difference, I've found that the lessons we pass down often have the greatest impact.

Financial success starts with habits, not account balances.

One of the first lessons worth teaching is the importance of saving. Before young people learn about investing, they should understand the value of setting money aside and living within their means. Good financial habits tend to compound just as investments do.

It's also important to help the next generation understand that life is unpredictable. Unexpected expenses happen to everyone. Learning the importance of an emergency fund can help build resilience and confidence when challenges arise.

Another lesson is the value of starting early. Retirement may seem like a distant concept to a young adult, but time is one of the most powerful financial tools available. Understanding how consistent saving and investing can grow over decades is a lesson that can benefit them for a lifetime.

Families who are focused on multigenerational wealth transfer may also want to stay informed about emerging planning opportunities. New Trump Accounts have created another way for some families to begin investing on behalf of children at an early age, complementing existing strategies such as 529 education savings plans, family gifting programs, and other legacy planning tools. As always, the specific account matters less than the habit being taught: ownership, patience, and long-term thinking

I also believe it's important to teach that protecting what you've built matters just as much as building it. Whether it's having the right insurance coverage or planning for unforeseen events, preparation is an important part of financial stewardship.

Finally, talk openly about legacy. Estate planning is often viewed as a legal exercise, but at its core, it's about values. It's an opportunity to communicate what matters most and ensure that wealth is transferred thoughtfully and intentionally.

The families I've seen succeed across generations don't just pass down assets. They pass down knowledge, responsibility, and purpose.

When we think about what we'll leave behind, it's worth remembering that our greatest financial legacy may not be what we give our children and grandchildren. It may be what we teach them.

Important Disclosures:
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Trump Accounts offer tax-deferred growth on earnings. Family contributions are made with after-tax dollars, and eligible employer contributions may be excluded from the employee's taxable income. A one-time $1,000 federal contribution may be available for eligible children born between 2025 and 2028. Distributions are generally prohibited during the child's growth period and, once permitted, are taxable as ordinary income and may be subject to a 10% IRS early distribution penalty if taken before age 59. Contribution limits and other restrictions apply, and some rules remain subject to future Treasury and IRS guidance.