By: Cindy Perman, CNBC.com
This just in — money isn’t always No. 1!
After enduring the financial impact of the recession, a whopping number of Baby Boomers say money isn’t the most important thing they hope to leave to their kids.
They don’t just want to leave an inheritance; they want to leave a legacy.
“It is more important to us to leave the legacy of what we value than to leave a large amount of money for our children,” said Kathleen Moynihan, a 53-year-old mother of three from Concord, Mass.
“Your values become the new valuables,” said Derrick Kinney, a financial adviser and owner of Derrick Kinney & Associates in Dallas. “Giving your kids the gift of knowing what is important to you gives them a reason to help protect and manage lasting wealth,” he said.
Indeed, 75 percent of Boomers said passing down family values and life lessons was more important than the actual monetary amount they’re leaving in the inheritance, according to a recent survey by Allianz Insurance.
To read more, visit: http://www.cnbc.com/id/46313097