Legacy Family Wealth

27/11/2024

As the soon-to-be richest generation in history, Millennials are not to be overlooked. Here at Legacy Family Wealth, we’re keeping our finger on the pulse – not just with figures and investment trends, but with the transfer of knowledge and guidance required by these inheriting individuals to manage their new-found wealth efficiently.

If you’re to become a benefactor during this ‘Great Wealth Transfer’ have you carefully considered this in your estate plan? When it comes to your beneficiaries, what are their financial skills? Most importantly, what are their comfort levels in regards to receiving your assets?

After all, you aren’t simply transferring money. You’re transferring an obligation and responsibility to shepherd a legacy of family wealth so future generations can benefit from it, too.

They were the generation financially falling behind. But now, millennials have become wealthier than previous generations were at their age. WSJ personal finance reporter Joe Pinsker tells host Ariana Aspuru how the shocking turnaround is influencing their decisions about money. Sign up for the WSJ'...

20/11/2024

The International Monetary Fund (IMF) recently released its October 2024 World Economic Outlook, outlining critical growth forecasts and risk assessments for the year ahead.

The IMF predicts the global economy will grow by 3.2% in 2025 after growing by a predicted 3.2% in 2024. The good news is that global growth and rate cuts look set to continue. However, geopolitical risks are also poised to threaten global stability and growth.

Things are changing. Don’t wait until next year to stay on top of your financial health. What can we help you with now?

The International Monetary Fund released its World Econ0mic Outlook today outlining critical growth forecasts and risk assessments for the year ahead and beyond.

15/11/2024

Following last month’s 2024 summit, BRICS shows signs of growing influence on the world stage.

The group has now expanded beyond its founding countries of Brazil, Russia, India, China, and South Africa to become a global economic force. It newest members are Egypt, Ethiopia, Iran and the United Arab Emirates. Saudi Arabia, has also been invited to join.
The BRICS alliance of emerging markets may not yet be in a position to rival the International Monetary Fund (IMF) or disrupt US dollar dominance, but we’re remaining vigilant of its rising significance.

06/11/2024

As a country where many invest, there’s no shortage of reasons to be nervous following yesterday’s US elections. Both sides have outlined radically different visions of America’s economic future, with significant implications for the rest of the world.

Subsequent policy changes will influence global financial markets. The best course of action going forward? Assess the outcomes, take carefully considered actions, and remain well-positioned for all scenarios.

16/10/2024

As the global wealth landscape continues to evolve, we have seen a remarkable rise in wealth creation in recent years. While glorifying billionaires serves no purpose, their influence on the international economy, politics, and charitable activities is significant.

One person we’re watching closely right now is Larry Ellison. Oracle’s founder and current CTO. He saw his net worth surge by a record $14B in a single day, which happened after the company’s recent earnings release, pushed him past Bill Gates and Bernard Arnault.

09/10/2024

September was packed with with big ‘rate’ headlines. After the latest UK inflation figures remained stubbornly high, the Bank of England (BoE) decided to hold interest rates at 5% in its September monetary review.

In case you missed it, this ruling came after the unexpected decision by the US Federal Reserve to lower US interest rates by 0.5 per cent – marking the first drop in four years.

The Bank of England held rates at 5%, as largely expected. The pound surged against the dollar and euro, while the FTSE 100 dipped slightly. European stocks rallied following the Federal Reserve's rate cut.

02/10/2024

On the back of South Africa’s Heritage Day and the SARB’s first rate cut in four years, the price of braaibroodjies is stabilising.

Johann Biermann’s braaibroodjie index shows that, while the cost of braaibroodjies has increased year on year, we are in better space than January. If you needed more reason to light a fire in the lead up to December, there you go…

23/09/2024

Last week the team at Legacy Family Wealth visited the children at Rainbows and Smiles to deliver gifts, play with the kids and just let them all know there is a world out there that loves them.

Well done guys!!

18/09/2024

What moves did the greatest investor of all time make in Q2? Although Buffett reduced his prized stake in Apple by roughly 50%, it still represents a hefty 30% of his overall holdings, with a reported value of $84B.

Although we enjoy evaluating stock portfolios of famous billionaires and legendary investors, it’s crucial not to blindly follow anyone else’s trades.
Want to make the most of your personal wealth planning and investing? Get in touch. We’re here to support financial decision-making that best suits YOU.

11/09/2024

Only 15% of Gen Z (under 30 year olds) regularly direct a portion of their paycheck into a savings account. And that only accounts for the US population.

Gone are the days of shrouding money discussions by secrecy. Upcoming generations need a clear understanding and preparedness as they age. If you need support with guiding your children and grandchildren with purposeful investing, that’s where we come in. Our team specialises in multi-gen family wealth planning.

Gen Z adults aren’t saving much yet, according to a recent Bank of America survey, but they have plenty of time to develop good habits.

04/09/2024

It feels like we have been commenting on this topic for so long, but it has finally happened. The US central bank's first rate cut occurs this month at its Federal Open Market Committee meeting. It may be even more than the usual 25 basis point rate cut. It could be 50 bps.

"The upside risks to inflation have diminished, and the downside risks to employment have increased. We do not seek or welcome further cooling in labour market conditions. The time has come for policy to adjust, the direction of travel is clear." – Fed Chair, Jerome Powell

Jerome Powell did not say when rate cuts would begin or how large they might be in his keynote speech at the Fed's annual economic conference in Jackson Hole.

28/08/2024

The International Energy Agency (IEA), whose members include the world's largest oil consumers, predicts that we are heading towards an oil surplus.

They forecast that demand will peak in 2029 at 105 million barrels a day, but oil production capacity is going to grow even quicker over the same period, reaching 114 million barrels a day.

Oil is a central input to the global economy and a surplus would herald a positive result for most countries. A local price drop would help lower inflation (and by extension lower interest rates). Let’s wait and see.