Today I’d like to continue with this video series, which is “Ten Financial Commandments for Retirees.”
And Commandment # 8 is to Get rid of your stuff: Whatever possessions you’ve accumulated, it’s worth making a concerted effort to get rid of them in retirement. This can be through gifts to family members or a donation to the charity of your choice. Giving away your things while you are alive can provide a tremendous sense of fulfillment as you see others benefit and enjoy these gifts. Additionally, it will relieve your heirs of the burden of sorting through your stuff upon your death.
As the saying goes, "It's better to give with a warm hand than a cold one.” Giving while alive ensures your wealth is used as you intend, brings personal satisfaction, and provides timely support to recipients.