Why is Legacy Planning an Important Part of Retirement?

  • January 14, 2019

A life well lived is a goal most of us set for ourselves. As we grow older, the idea of living our best life and leaving something behind for our loved ones becomes increasingly important. It is often referred to as legacy planning. 

Your legacy doesn’t have to be something overly grand. It just needs to be something that is meaningful to you. Knowing you will leave behind the legacy you desire is good for the body, mind, and spirit. 

How Legacy Planning Promotes a Better Quality of Life

  1. Helps you live with purpose: The process of planning your legacy helps guide your life. As you start to think about who you are and how you want to be remembered, you may find these answers begin to guide how you live your life. Some people start legacy planning early in life, for example, when they become a parent. Others start thinking about this during midlife or after important milestones, such as becoming a grandparent or reaching retirement age. Whatever the event, you will likely find that legacy planning leads to more purpose-driven decisions.
  2. Reaffirms your way of living: Legacy planning helps validate who you are and how you’ve lived. This can be especially meaningful for older adults who have lived less traditional lives. By giving careful thought to how you want to be remembered, you're giving credence to the idea that you’re unique and your voice matters.
  3. Promotes self-reflection and life review: Giving thought to legacy planning requires periods of introspection and provides an opportunity to reflect on one’s life. This process gives people a chance to work through family rivalries or disputes and to resolve long-standing conflicts. That’s good for the mind and spirit.
  4. Increases socialization with friends and loved ones: Legacy planning can also be directed outward. In the hustle and bustle of today’s busy world, it is easy to lose track of childhood hopes and goals. Reminiscing with lifelong friends and family members can help you reconnect with who you were as a child and young adult as well as maintain relationships with others.
  5. Encourages you to share life-long values: When considering what you want to leave behind, legacy planning enables you to share core values and principles. By arranging a donation or endowment to a specific cause or charity you can reveal your passion for something and serve to inspire others. In this way, legacy planning can influence how you will be remembered.

For many people, planning a legacy also means making sure younger loved ones understand your family’s history. You can use these tips to document and share your important events and milestones with your family.

Live Your Best Life at Five Star

The Five Star Difference highlights our commitment to helping residents live their best life. From our Lifestyle360 program to our Five Star values and pillars, we invite you to schedule a tour of the community nearest you to learn more. 

 


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