My kids are looking at their inheritance - anyone else considering gold for legacy?
- β’I was chatting with my son the other day β he's still in his 30s but already thinking about what my wife and I will eventually leave behind.
- β’Brings a smile to my face, honestly, seeing him plan ahead.
- β’Weβre talking a good 7-figure estate, and a big piece of that is sitting comfortably in gold rounds and some bullion.
I was chatting with my son the other day β he's still in his 30s but already thinking about what my wife and I will eventually leave behind. Brings a smile to my face, honestly, seeing him plan ahead. He knows Iβve built up a decent portfolio since retiring from Shell a decade ago, most of it in blue-chip stocks and, of course, a significant chunk in gold. Weβre talking a good 7-figure estate, and a big piece of that is sitting comfortably in gold rounds and some bullion.
It got me thinking specifically about the gold portion with the kids. Weβve got two, and then there are the grandkids coming up. My original thought was just to evenly split the entire portfolio, gold included. But now I'm wondering if there's a better way to structure just the gold. Iβve always seen it as a store of value, a hedge against inflation and market volatility, especially living through a few downturns back in my energy days here in Houston.
Part of me wants to make sure they understand why I hold so much physical gold. Itβs not just another asset; itβs a foundational piece for long-term security. Should I be looking into trusts specifically for precious metals? Or perhaps just clearly outline my intentions in my will for how the gold itself should be managed or distributed? I'm picturing these youngsters potentially just selling it all off at the first opportunity, and while it's their inheritance to do what they please, I'd hope they'd see the long-term benefit.
Anyone else here with significant gold holdings thinking about this for their kids or grandkids? How are you planning to pass it down? Are you encouraging them to keep it, or just letting them decide? Any pitfalls I should be aware of beyond the usual estate planning stuff?