We developed a way to make a life plan for our daughter and our life plan can work for you too. We created the Red Giraffe Route Map by dividing the main aspects of her life into four categories which we liken to train lines: The Daily Living Line, The Relationship Line, The Purpose Line and The Financial Line.
Everyone needs money for their long-term security, but our young adults may rely more heavily on others to help plan and manage this security. For this reason, careful planning of the financial line is imperative.
Understanding legacy on the financial line can be confusing. Even if you don’t consider yourself well off, you can still leave a significant financial legacy because it’s not the money you leave them, but rather it’s their relationship to money and the organisation of their finances. Everyone has money come into their lives and we all make choices about how that money is used and spent. Your legacy to them should be instilling good money habits.
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