How to Build Your Financial Legacy Three Piggy Banks at a Time

A wealth adviser shares a childhood saving technique that taught him lessons of stewardship, generosity and responsibility and helped him answer the question we all need to answer to define our lives by impact rather than greed: 'What is this all for?'

Three piggy banks lined up in yellow, blue and pink.

(Image credit: Getty Images)

By Hilton Lamprecht

published 13 August 2025

in Features

It's no secret that money and our relationship with it matters –– sometimes in positive ways and sometimes in negative ones.

Although amassing a large amount of money can result in more freedoms and luxuries, neglecting to recognize its power can lead to devastation for your family, whether you intend it to or not.

It should be no surprise that money is one of the leading causes of divorce and family hurt.

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Many times, this is because the biggest myth about money is that it represents our personal value. We tend to measure ourselves and others in terms of dollars and cents. We use words like net worth to define us, basing our self-worth and success on our ability to earn or create wealth.

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Unfortunately, this can be a never-ending, never-fulfilling pursuit of emptiness. There will always be someone who is making more or has a bigger house or a nicer car. We lose ourselves in the chase of keeping up with the Joneses.

But we can begin to make the transition from success to significance when we step outside of the dollars and cents and ask ourselves, "What is this all for?" Answering that question requires us to define our lives by impact rather than greed and self-service.

It's also a reminder that there are multiple stages in a person's life. You can think of these stages as survival, stability, success and significance.

Survival, stability, success and significance: Where are you?

Most of us begin the same way: We finish our education and enter the real world, simply trying to make ends meet and establish our foundation. This is our survival stage.

As we gain momentum and mature, we enter our stability stage, where we finally feel we are getting the hang of this adulting thing. Our inflows begin to exceed our outflows.

Further momentum propels us into the success stage, the time in our lives when we can pursue our wants over and above our needs. It's at this point in life where most people develop a blind spot, thinking success is the final stage.

Sadly, the earlier in life we experience success, the wider that blind spot becomes.

Eventually, people discover that success is not the final stage after all. In fact, success begins to feel like a mirage that never really checks that fulfillment box within us.

With every milestone or new record hit, the temporary feelings of success slip away, and we are left with more and more longing. It's when we finally shift our focus from "me" to "we" that we enter the significance stage –– maybe much later than we would like.

Wouldn't it be nice if we could reach this stage quicker? Perhaps we can. Here are a few lessons that can help us bridge the gap from success to significance.

Your money, your values

One of the first things to consider is that the way we manage and use money is a physical manifestation of our values.

Think of the many ways this plays out in our lives. We buy nice homes and nice cars. We take vacations to relax, and we shop for fashionable clothes. We give gifts to friends and loved ones, and many of us also donate to causes we believe in.

Just how much do we value the things we spend our money on? To a degree, their value is demonstrated by what we are willing to give up so we can earn the money to buy them.

For example, we give up our time or our emotional and mental capacity.

What uses for your money would give you fulfillment? The first step to finding the answer is for you and your spouse to define what you value. Have you ever taken the time to write out your values? Now would be a good time to do so.

Those values will become a guiding post not only for how you live your life but also for how you manage and spend your money.

Serving as an example

The impact of how we use our money extends beyond just us; it serves as an example to our children and even our grandchildren.

Why? Most people's perception of money begins at a young age, influenced by what their parents did or did not teach them. If their mother and father didn't spend much time on the subject, their money lessons came from the school of hard knocks.

I was fortunate to grow up in a household of South African immigrants who held strong values of stewardship and responsibility. My parents taught me that money is not given; it is earned.

In my home, we didn't have "allowances." We were given opportunities to earn money in exchange for work. What was tremendously impactful was that my parents also taught me what to do with the money.

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We children had a three-tiered piggy bank, and each tier represented a different purpose: Spending, giving and savings. For every $10 earned, we had to put $1 in the giving bucket and $2 in the savings bucket. The rest we could spend.

If we ever wanted new clothes or an expensive new toy or gadget, that would have to come from our savings combined with our spending money.

As for our giving money, our parents didn't let us just hold on to that. Every Sunday at church, when it was time for tithes and offerings, we proudly walked up with our $1 to $2 and contributed.

That little three-tiered piggy bank taught us lessons we still use today. Lessons of stewardship, generosity and responsibility.

Becoming intentional with your money

What about you? You may not have a three-tiered piggy bank, but are you intentional with the way you use your money? If not, the way to become intentional is to understand money's purpose and its role in your life.

This begins with creating a plan for your money that aligns with your values, mission and vision.

Once you clearly define these principles, you can build a plan that encompasses money in three ways: Money for "me" (you and your partner), money for "we" (your family), and money for "thee" (your community).

Most people have values, vision and mission within them but have not yet been able to articulate these clearly. If you are struggling with this, working with someone who asks the right questions can help unlock the answers from you.

True advisers should look to help families create financial plans based on their uniqueness, visions, priorities and goals. Your financial adviser should not only review your financial goals and needs but also skillfully help you think deeply about what meaning you want to assign to your money.

In part, that may involve finding ways to save more for retirement. It may be about strategies to help you increase giving to your favorite causes. And it could be about leaving a legacy for your heirs –– although that legacy may be more than just material assets.

A legacy worth leaving

Ultimately, there is no checkered flag to declare anyone a winner when they die with millions in the bank. We've heard throughout our lives that "you can't take it with you," but we can surely pass it along ahead of us.

Yes, money matters. It matters to you, your family and your community, which is why it's so important for you to use it to make a difference in the lives of people around you, and for you to become the generational example for your family.

Money passed without values and wisdom can be a curse, while wisdom and values passed without money are still blessings.

Money passed along with wisdom and values is a generational baton that will have an impact long after you are gone.

Ronnie Blair contributed to this article.

The appearances in Kiplinger were obtained through a PR program. The columnist received assistance from a public relations firm in preparing this piece for submission to Kiplinger.com. Kiplinger was not compensated in any way.

Disclaimer

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Hilton Lamprecht was born and raised in the industry, so wealth management and financial advising seem to be in his blood. As the eldest son of the president of the LifeWealth Group, Hilgardt Lamprecht, Hilton has been around the practice and industry his whole life. From a young age, Hilton was involved in various aspects of the business until stepping into a full-time role immediately following his graduation from the University of Florida with a degree in finance. Since starting with the firm, Hilton has worked his way from a financial planner to becoming a LifeWealth lead adviser, now serving as the head of the advisory department.