More than Enough: A Brief Guide to the Questions That Arise After Realizing You Have More Than You Need

✍ Scribed by Mike Piper

• Publisher: Simple Subjects, LLC
• Year: 2023
• Tongue: English
• Category: Library

✦ Synopsis

Most financial media deals with the topic of accumulating enough savings to cover your expenses throughout your lifetime.

Among people who read personal finance books, many are “super savers”—saving a high percentage of their income through most of their careers. One thing that eventually happens for many such people is that they reach a point at which they realize they have not only saved "enough", they have saved "more than enough." Their desired standard of living in retirement is well secured, and it’s likely that a major part of the portfolio is eventually going to be left to loved ones and/or charity.

That realization raises a whole list of new questions and concerns. Some of those are financial (e.g., how much can I afford to give away to charity during my lifetime?), and some are non-financial (e.g., how should I communicate my estate plan to my intended heirs?).

This book’s goal is to help you answer those questions that arise when you realize you have accumulated—or are on track to accumulate—more than enough.

Part One: Non-Financial Considerations (What’s the goal? And why?)

1. Do You Have More Than Enough?
2. Who Gets the Money?
3. Talking with Your Kids or Other Heirs

Part Two: Financial Considerations

4. Giving and Spending During Your Lifetime
5. Learning to Spend and Give More
6. Impactful Charitable Giving
7. Impactful Investing
8. Reassess Your Asset Allocation
9. Trusts
10. Asset Protection

Part Three: Tax Strategies

11. Qualified Charitable Distributions
12. Donating Appreciated Taxable Assets
13. Deduction Bunching
14. Donor-Advised Funds
15. The Roth Question(s)
16. (State) Estate Taxes
17. Developing a Workable Plan

Part Four: Finding Professional Assistance

18. Working with an Attorney
19. Working with a Financial Planner

Conclusion: Mission Accomplished. Now What?

Afterword: Our Most Limited Resource