Stretch your IRA across generations:
Most Americans remember Benjamin Franklin for the incredible contributions he made to our country in its early years. As one of our Founding Fathers, his inventions, writings, scientific findings, political actions, charitable acts, and Constitution penmanship have earned him the title of “The First American”.
What most Americans don’t know about Benjamin Franklin, is that he also had a brilliant understanding of money. In fact, one of his greatest financial accomplishments was a legacy he left to the cities of Boston and Philadelphia through an establishment of an annuity in trust. Leaving 1,000 Pounds to each city in 1785, Franklin was able to stretch his initial gift into millions of dollars for the building of schools and scholarships for high school students 200 years after his death!
In a similar fashion, MLC Financial Services can assist you in establishing a plan to stretch your IRA funds across multiple generations to children, grandchildren and great grandchildren… or to the charity of your choice. Often times, when inheritance is left in a lump-sum fashion to kids, it is quickly squandered or lost to heavy taxation. Imagine instead, providing a lifetime stream of income that can span generations, truly leaving a legacy to your family.
If this is something that interests you, contact us today. We can provide detailed illustrations on how you can create a lifetime of income for several generations, turning a small seed into a giant oak tree for your family.