{"id":634224,"date":"2026-10-18T10:00:10","date_gmt":"2026-10-18T10:00:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/634224\/"},"modified":"2026-10-18T10:00:10","modified_gmt":"2026-10-18T10:00:10","slug":"what-if-you-dont-want-to-leave-an-inheritance-experts-say-thats-ok","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/634224\/","title":{"rendered":"What If You Don’t Want To Leave an Inheritance? Experts Say That’s OK"},"content":{"rendered":"

\"Discover<\/a> Ridofranz \u00b7 iStock.com <\/p>\n

Somewhere along the way, we were all told the perfect financial ending is a big inheritance for the next generation. But that’s just one version of winning. If you’d rather spend the money you spent decades earning on travel, hobbies and a retirement you actually enjoy, that’s a legitimate goal. <\/p>\n

Plenty of financial experts agree, as long as the spending comes with a plan. Here’s how to enjoy your money without the nagging fear that you’ll run out of it. <\/p>\n

Why More People Are Spending Instead of Saving for Heirs <\/p>\n

Many people feel pressure to preserve wealth for the next generation or other family, whether they have kids or not. Yet, according to Jay Zigmont, a certified financial planner (CFP) and founder of Childfree Trust<\/a>, inheritance is a personal choice. For many households \u2014 especially those without children \u2014 the goal is to enjoy their wealth during retirement rather than die with a large estate. <\/p>\n

Zigmont saw this shift firsthand. His company recently studied people who are “childfree or permanently childless, which means they don’t have kids and never will.” According to him, they found that 84% of childfree people want to spend down their wealth and “die with zero.” <\/p>\n

Gregory DuPont, a CFP and founder of Advocate Wealth Solutions<\/a>, agreed. “It’s entirely reasonable to plan on spending most of your assets before passing away,” he said. After all, “for some people, the purpose of retirement savings is just that, to fund their retirement.” <\/p>\n

Spending More Doesn’t Mean Planning Less <\/p>\n

Not leaving an inheritance doesn’t mean spending recklessly. The goal is to build enough safeguards that you can confidently enjoy your money without worrying it’ll run out. <\/p>\n

“Most financial planners use average expected life span and then work with their clients to estimate planned monthly and annual expenses and expected retirement income,” said Duane Coker, an attorney and the founder of the family law firm, Coker, Robb & Cannon<\/a>. <\/p>\n

In Zigmont’s practice, this includes planning for long-term care, claiming Social Security<\/a> at 70 and keeping a one- to two-year’s worth of expenses liquid. <\/p>\n

Your Own Security Comes First <\/p>\n

Zigmont doesn’t judge people who put their own retirement<\/a> ahead of a legacy. “The question of leaving an inheritance has to do with personal beliefs about how they want to make an impact,” he said. <\/p>\n

DuPont sees the same pattern. His clients “often arrive worried about how they’ll leave a large inheritance, then feel relieved when I tell them their own security comes first.” <\/p>\n

Getting that settled first can also free up room for charitable giving. <\/p>\n

When Leaving an Inheritance Becomes a Priority <\/p>\n

Skipping an inheritance is valid, but it isn’t the right move for everyone. Blended families especially need a clear estate plan. For example, if your goal is to provide support for your spouse and leave an inheritance to children from a previous marriage, a legally sound estate plan will ensure your wealth is distributed as you wished. <\/p>\n

Families caring for children or adults with disabilities may also want to leave an inheritance. “The priority should be to leave them assets<\/a> in a way that protects their government benefits and provides long-term care for them after your death,” said Coker. <\/p>\n

Either way, Zigmont stressed, “It is a personal choice.” <\/p>\n

Legacy Isn’t Measured by the Size of Your Estate <\/p>\n

Legacy is much broader than just leaving money behind. Zigmont said, “Legacy is about what impact we have on the people around us.” <\/p>\n

He often asks clients what the second line of their obituary will be. One client said “[it] would be something about the beautiful garden she built where the entire community stopped by to smell the flowers and see the butterflies. Her garden and the impact on those around her are her legacy, not her money.” <\/p>\n

Dupont pointed out that a legacy “can be values, family stories or a well-organized estate plan that spares your kids a probate mess.” <\/p>\n

The Hardest Part May Be Giving Yourself Permission To Spend <\/p>\n

For many lifelong savers, the real challenge comes once it’s time to use the money they’ve built. <\/p>\n

“We spend more time talking to our clients about spending money than saving money,” Zigmont said. Adding that “there can be guilt and other feelings that need to be worked through.” <\/p>\n

The Bottom Line <\/p>\n

The biggest misconception, Zigmont said, is that you must pass on money. “Some people can’t afford to pass on money, and others don’t want to. Both are valid options.” <\/p>\n

It’s your money, so the call is yours. Set your goal, build the safety net and spend your money on purpose. <\/p>\n

This article was provided by MoneyLion.com<\/a> for informational purposes only and should not be construed as financial, legal or tax advice. <\/p>\n

More From MoneyLion: <\/p>\n","protected":false},"excerpt":{"rendered":"Ridofranz \u00b7 iStock.com Somewhere along the way, we were all told the perfect financial ending is a big…\n","protected":false},"author":2,"featured_media":634225,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[2169,138,553,219,246,5932,329,37332,5933,5483,16400,7454,111,139,69,244,245,8499,13081,294,781,5934,5935,643,37333,7496,37334],"class_list":["post-634224","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-401k","tag-business","tag-business-news","tag-economy","tag-finance","tag-financial-information","tag-investing","tag-investment-tools","tag-investor","tag-market-news","tag-mortgage","tag-mutual-funds","tag-new-zealand","tag-newzealand","tag-nz","tag-personal-finance","tag-personalfinance","tag-quote","tag-real-estate","tag-retirement","tag-stock","tag-stock-research","tag-stock-valuation","tag-stocks","tag-suze-orman","tag-tax","tag-track-portfolio"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/634224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=634224"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/634224\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/634225"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=634224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=634224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=634224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}