My Father’s Legacy

By Sapan Vyas

He might not have thought of himself this way, but my father was a risk-taker.

He was born in Gujarat, India. When he was 18, he took a huge risk in moving to the United States, where he spent four years at college in Madison, Wisconsin before moving to the Bronx. The neighborhood quickly became home; he never left.

Like so many immigrants to this country, my parents worked hard so their children—my sister and I—could have a better life. My mother worked the night shift in the post office, and my father worked in finance at a nonprofit. Because of them, my childhood was relatively care-free, spent playing baseball in the streets, running between the alleys, and riding my bike around the block.

My father took that one major risk, which changed the entire trajectory of our family’s story. After that, he backed away from uncertainty, too familiar with what it felt like to have nothing to risk jeopardizing the security he had gained for our family. My father would have kept every paycheck securely in the bank without giving it room to breathe and grow if it had not been for his employer’s mandated pension plan.

An Unexpected Benefit

Like many others of his background and generation, my father resisted diversifying his assets. He preferred the tangibility and security of what he knew rather than the risk and volatility of a market he didn’t perfectly understand. His company forced his hand; he was compelled to invest in the markets through his pension plan.

Despite his deep-seated discomfort in diversifying, my father’s pension grew incredibly well. The investments he made essentially took a leap of faith on the US economy for 25 years. That’s exactly the kind of growth we’ve strived to help our clients achieve at K&B for the past five decades.

What Diversification Means for Your Legacy

As my family learned, the amount of wealth you can create simply by diversifying your assets is incredible if you do it right. I’ve seen it happen time and time again—first as my father steadily grew his net worth, and over and over throughout my career as a financial advisor.

By diversifying, my father was able to leave a legacy that was greater than his career and greater than his salary. He started my family on the path to creating generational wealth. Thanks to my father’s hard work and smart investing, I was able to pursue my own passions and help countless individuals and families optimize their own legacies. For that, I am deeply indebted to him.

Creating Generational Wealth at K&B

At K&B, we strive to help create generational wealth for all our clients. We do it for people like my father, who worked hard for their families and their children. And we do it for those children, who want to work hard for their children.

We don’t help families create wealth for wealth’s own sake. Rather, we help them create wealth that offers options and helps each client live the life they want to live.

If you’re interested in learning how you can work with a financial advisor to diversify your assets and forge your own path toward generational wealth, don’t hesitate to reach out to me. The whole K&B team and I are here for you. We’re ready to listen, to learn, and to invest.

Kimelman & Baird, LLC does not offer legal or tax advice. Please consult with your attorney, accountant, and/or tax advisor for advice concerning your particular circumstances.

Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.

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