Creating a Million Dollar Legacy: Everything You Need to Know

Summary

Tom Handy shares his experience and tips on creating a legacy for his children, including buying life insurance, investing in stocks, and spending quality time with them.

Abstract

Tom Handy, a retired Army veteran and father of two, shares his journey of creating a legacy for his children. He emphasizes the importance of spending quality time with his kids and creating memories, as well as investing in their future by buying life insurance and opening a stock brokerage account for them. He also encourages his son to work hard and train for his dream of playing college football.

Opinions

Tom believes that creating a legacy is not just about money, but also about spending time with his children and creating memories.
He values the importance of investing in his children's future by buying life insurance and opening a stock brokerage account for them.
Tom encourages his son to work hard and train for his dream of playing college football, and shares motivational videos with him to inspire him.
He emphasizes the importance of spending quality time with his children and attending their practices and games.
Tom believes that creating a legacy is a way to provide a better future for his children and create a lasting impact.

It’s cheaper than you might think.

I didn’t grow up in a rich family or with two parents in the house but I do my best to create a better future for my kids. I am determined to do one thing for them

Create a legacy.

My parents divorced when I was a teenager so I lived with my mom. I was a latch key kid so I had my own key to let myself in our place every day.

With two kids, I try to spend as much time with them as I can.

The older they get, they want to spend more time with their friends and don’t want to be around you as often. So I share tips with them.

My son wants to play college football so I send him motivational videos to watch. I can only tell him so much. He recognizes famous stars and he gets a different perspective when they talk.

I encourage him to work out on his own.

Some other kid wants to take his spot on the team one day. So I push him to train harder. He could run along a flat surface with no problem but I challenge him to run up a hill by our house to get an edge.

A few years ago, I bought life insurance for my kids. Insurance is not cheap. But when they’re kids, the expense is very affordable. This is one expense they won’t have to worry about.

Kids already have to deal with the astronomical costs of college which go up year after year.

For my kids, I opened a stock brokerage account for them a few years ago. They already own shares of Microsoft, Disney, Hilton, Wingstop, Apple, and a few others. Last year, my son made his first stock pick and asked for Tesla. Since then, the stock has already gone up 200%.

Legacy isn’t only about money, there’s more to that. It’s also about the time you spend with your kids to create memories.

As a kid, I played sports and my parents never watched me play. Now, I try to attend every practice and game my kids have. I haven’t missed one game yet. The smile on my kids’ faces is priceless.

Are you creating a legacy?

Tom Handy is a top Investment and Bitcoin writer on Medium, and the father of two kids. He retired from the Army and sits on several non-profit boards. Tom is the top Yelper in his community and a top Google Guide. He’s on several social media channels and you can find him on Twitter @tomhandy1 and Instagram @tomhandy1.