May 26, 2026
While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
For many retirees, the top concern is running out of money before retirement ends. But for millions of Americans, the biggest risk isn’t outliving their wealth but leaving too much of it behind without a clear plan.
The Great Wealth Transfer will see a whopping $124 trillion change hands across the country through 2048, according to the most recent estimates by Cerulli Associates. Roughly $105 trillion is projected to go directly to heirs, with another $18 trillion going to charity.
Advertisement
But many heirs could see their windfall come far too late. Receiving an inheritance in your 50s or 60s is nice, but the money would have probably had a greater impact in your 30s and 40s, when you’re starting a family or buying your first home.
According to Bill Perkins, the hedge fund manager and author of Die With Zero, this could be a big planning failure of modern retirement. Not accounting for the changing utility of money over time could leave you and your loved ones worse off.
“The math on retirement assumes you’ll need every dollar you save,” says a note on Perkins’ website. “But research on actual retirees says otherwise — most reach their final years with too much money and too few good experiences left to spend it on.”
However, there is a way to indulge in these good experiences without being reckless. Here’s a three-step process for legal, tax-efficient ways to start moving wealth right now, while you can actually watch your kids and grandkids enjoy it.
Step #1: Secure yourself first
Much of traditional retirement planning is focused on wealth preservation, taxes, withdrawal strategies and estate planning. But if your mission is to die with zero and help your loved ones while you’re still alive, you might want a different plan with some additional guardrails.
For instance, you probably don’t want to be near zero when a healthcare or eldercare crisis strikes. These unexpected expenses can derail any financial plan.
Advertisement
This is precisely what insurance policies are designed for. It’s always a good idea to have a robust portfolio of different policies that cover everything from medical expenses to foreign travel. And niche policies like long-term care insurance can easily be overlooked.
This type of policy offers coverage for the costs of in-home assistance, nursing homes or assisted living facilities.
If you’re not sure where to look, consider using a platform like GoldenCare to compare different options based on your needs. Using this platform, you can sift through hybrid life or annuity with long-term care benefits, short-term care, extended care, home healthcare, assisted living and traditional long-term care insurance to find the perfect fit.
Once you’ve secured yourself with the right mix of insurance policies, the next step is to work with an expert to craft the perfect plan to start sharing your wealth with your loved ones.
Must Read
- You can now build wealth like a landlord for as little as $100 — and no, you don't have to chase down rent or take 3 A.M tenant calls
- Goldman Sachs used to hoard prime real estate deals for the ultrarich. Two ex-analysts just opened the door for $250
- Robert Kiyosaki begs investors not to miss this ‘explosion’ — says this 1 asset will surge 400% in a year
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
Step #2: Hire an expert to plan early giving
Although you can gift and donate some of your savings to your children and grandchildren in a piecemeal way, that might not be the most tax-efficient option.
Advertisement
The Internal Revenue Service (IRS) allows you to gift up to $19,000 in 2026 or use a little-known “grandparent loophole” via 529 plans to fund a grandchild’s college fees. You can also just pay directly for tuition or medical expenses if you want to gift or support a loved one beyond the annual gift limit, according to Baird Private Wealth Management.
Simply put, there are several clever and underappreciated financial maneuvers that can help you support your family in the most tax-efficient way possible. You can take the time to learn about these yourself — implementing them independently and staying current with changes to the tax code — but if that’s too time-consuming or too much work, you might want to consider hiring an expert.
An experienced financial planner can help you craft the perfect early giving plan without triggering taxes or penalties. But hiring an advisor can be a lifelong commitment, which might make or break your retirement. That’s why finding reliable advisors is crucial.
If you have a portfolio of $250,000 or more, platforms like WiserAdvisor can connect you with vetted professionals who specialize in this kind of planning.
Simply answer a few questions about your savings, retirement timeline and overall investment portfolio.
Advertisement
From there, WiserAdvisor reviews its network to match you — for free — with up to three vetted, reputable advisors aligned with your specific needs.
You can then schedule no-obligation consultations with your matches to determine who is the best fit for your long-term goals.
WiserAdvisor is a matching service and does not provide financial advice directly. All matched advisors are third parties, and specific financial results are not guaranteed.
Step #3: Revise plans and support when circumstances shift
Once you have a plan in place, it’s always worth remembering that plans can also be changed. That’s because the market, broader economy and your personal finances are unlikely to be frozen in time. Even the best plan made today may need some modifications in 10 or 15 years.
When talking things over with your advisor, you might want to keep this in mind and ask them to plan for some flexibility. You can even reexamine your plan every year or so to make any necessary changes.
Dying with zero isn’t reckless. Done right, it’s the most rational use of a lifetime of savings. Sometimes, the math might just require starting the transfer earlier than feels comfortable, so that you can watch your family use the money instead of just inheriting it.
You May Also Like
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and the simple steps to fix it ASAP
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how
- Millionaires under 43 are reshaping investing — just 25% of their portfolios are in stocks. Here’s where their money is going
- Robert Kiyosaki issues grim warning for baby boomers. Many could be ‘wiped out’ and homeless ‘all over’ the country. How to protect yourself now
Vishesh Raisinghani is a financial journalist covering personal finance, investing and the global economy. He's also the founder of Sharpe Ascension Inc., a content marketing agency focused on investment firms. His work has appeared in Moneywise, Yahoo Finance!, Motley Fool, Seeking Alpha, Mergers & Acquisitions Magazine and Piggybank.
