We all invest for different reasons, but most of us invest for a long-term benefit. We hope to be able to set ourselves up for a comfortable retirement.
For those who manage to amass a sizeable nest egg, that can mean retiring early and/or being able to live off the income from their portfolios without eating into the capital.
Most investors also want to be able to leave something for others – to children, charities or other beneficiaries.
That's certainly my hope – that if we live below our means, save hard and invest well, we'll be able to pass whatever is left as a legacy to the next generation.
The topic of legacies is particularly important, as today is Legacy's Badge Day.
Legacy has its origins in the aftermath of the First World War, when some Veterans felt their comrades weren't being looked after upon their return from the front lines.
That first 'Remembrance Club' in Hobart was the forerunner of Legacy, after club members decided to dedicate themselves to caring for the children of deceased servicemen.
These days, Legacy cares for the families of deceased and incapacitated Veterans.
With the recent tragic deaths of five Australian servicemen in Afghanistan, Legacy's role in caring for families has again been bought into stark relief.
In the words of a recent Legacy announcement:
Legacy Week is the annual national appeal to raise awareness and funds for the families of our deceased Veterans. It is held in towns and cities big and small across Australia and supported by young and old.
The funds raised from Legacy Week help Legacy continue to assist over 100,000 widows and 1,900 children and people with disabilities Australia-wide, with essential services such as, counselling, special housing, medical, advocacy and social support.
Public support will also help Legacy nurture children's education, by contributing towards their school fees, books, uniforms, and recreational activities to aid their self development and confidence.
There are thousands of Australian Defence Force personnel currently deployed overseas. Legacy stands ready to assist their families should the worst happen.
All Australians are asked to donate generously so Legacy can "Keep the Promise" of one soldier to another in the trenches of World War I, to "look after the missus and kids".
You might want to consider buying a Legacy badge from volunteers (many of them school children) at train stations and shopping centres around Australia. You can also duck in to your local Commonwealth Bank, and many businesses will be selling badges to their staff.
Lastly, if you're keen to donate, you can also check out Legacy's website at www.legacy.com.au
Lest We Forget
