Fathers Day Legacy

It has been a tough few years for many Americans and for a lot of families, parents have been having to home school their kids during a pandemic and deal with a huge amount of stress. Fathers across the US had to make sacrifices and put on a brave face when many were faced with financial uncertainty and unprecedented change. Fathers day is coming and many will be thinking about how to show their love and appreciation for their dad.

At the same time, Fathers all over the world will still be thinking about the ones they love and care about and the future that they will leave behind when they pass on. Leaving a legacy is something that is innate in a father. A paternal instinct kicks in and you care more about your kids than yourself. Their future is all-important. Financial stability is part of taking care of your kids if you can do so. Receiving a card or a meal out from your kids feels great. But, being able to leave your kids a nest egg is an amazing gift to give to them.

David Neuwirth Senior Vice President of David Lerner Associates helps clients with Personalized Service & Complimentary Consultations says, “ Setting up a nest egg for your loved ones to help them with their financial stability later in life is an admirable goal. The best way to help you with your financial goals is to meet with you face-to-face, either in your home or at one of our branch offices. If you prefer we can set up a virtual meeting online.” 

An early variation of a celebration of fathers day can be traced back to Europe in 1508, but not wasn’t until 1972 when it became a tradition in the United States. In contrast, Mother’s Day became a calendar date in 1914 so it was almost 6 decades later that dad got his own day.

Father's Day 2022 is on Sunday, June 19, and families all over the nation will be celebrating their dads and all they do for them. America loves to show their dads how much they care, and they usually do so at the cash register. [1] According to the National Retail Federation (NRF), Americans are planning to spend big for dad on Father's Day. In 2021 Americans splashed out to the tune of $20.1 billion! [2] That blew out the previous year's record spend of $17 billion. A massive jump in spending and consumer behavior of close to $3 billion.

Father’s Day this year is a time to celebrate and a time to be grateful. It is also a time to plan for the future so you can enjoy it together as a family.

 

 

IMPORTANT DISCLOSURES

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC