How to make an impact that outlives you

[SINGAPORE] In the context of legacies, you may expect this article to talk about index-linked universal life policies (ULPs) or wills and trusts. I am not surprised. In the world of wealth management, a legacy is usually about those things.

But a legacy is more than just a name on a tombstone, or assets left behind. It’s about the impact you make on your loved ones, your community, and the world. A true legacy isn’t measured by wealth alone, but by the lives you touch, the wisdom you share, and the values you uphold.

Many people think about legacy planning only in their later years. But the truth is, building a meaningful one starts now because it’s about how you live, the values you stand for, and the actions you take every day. Whether through relationships, philanthropy, knowledge-sharing, or building something lasting, your legacy can shape generations to come.

In this article, I will share some ways by which you can start creating a legacy that endures long after you’re gone.

Passing on wisdom and values

Money fades, businesses evolve, and material things disappear, but wisdom and values last forever. They are among the most powerful legacies you can leave behind. Sharing your life lessons, experiences, and principles can guide future generations and influence people in profound ways.

You may do that by writing a book, blog, or journal to document your insights, personal experiences, and lessons learnt. A book, whether published or not, can serve as a guide for your children, grandchildren, or even a wider audience. Storytelling has been a crucial way of passing down wisdom for centuries. In today’s digital world, creating videos or podcasts allows your voice and messages to live on.

Being a mentor or a coach allows you to have a direct impact on someone’s future. Whether in business, education, or personal development, mentoring and coaching can shape a person’s success. Beyond knowledge, your values – integrity, kindness, hard work, being purpose-driven, perseverance, and faith-based beliefs – are equally crucial. Live them out daily and pass them down, and they will become what people will remember you for.

Build meaningful relationships

Over the past decades, I have worked with many people on their legacy plans. They were near the end of their lives, and none of them regretted not having made more money. Rather, they regretted not having spent enough time with loved ones.

Relationships are at the heart of any meaningful legacy. The way you treat others – your kindness, generosity, and support – will define how you are remembered. You can leave behind a relationship-driven legacy by prioritising family and friends by showing up for birthdays, celebrations, and difficult times.

Your presence will mean more than any material gift. You can share love and appreciation often by telling people what they mean to you, and express gratitude, offer encouragement, and show compassion. You can practise generosity. Beyond giving money, you can give your time, energy, and attention – these can have a deep impact. A legacy of love and strong relationships is one of the most fulfilling gifts you can leave behind.

Create something that outlives you

Leaving behind something tangible is another way to ensure that your legacy endures. This could be a business, an invention, a creative work, a movement, an organisation that continues to have an impact on people’s lives, or even a simple cookbook containing your recipes.

The goal is to create something with lasting value that embodies your mission and vision. When my mum died three years ago, she did not leave us a financial legacy. Instead, she left us with the recipes of our favourite home-cooked food such as fish maw soup and sambal chicken. My sisters often make dishes following her recipes, and when we gather to eat them, we remember our beloved mother.

For me, when I started my wealth advisory firm 24 years ago, I wanted it to be the light of the financial world: a firm where clients could have a safe place to get honest, independent and competent wealth advice so that they could achieve their ikigai goals. I hope that when I am gone, the firm will continue to affect lives the way we set out to achieve. If it does, that will be my legacy.

Make a difference in your community

Your local community is one of the most immediate places you can have meaningful impact on. Small efforts can add up to be a major influence on the people around you. You can volunteer your time at community centres, schools, or charities. Even the smallest contribution can create ripples of change, shaping your legacy through collective impact.

In my case, I volunteered to extend my service as a national serviceman with the army until I was 51 years old. I also served at the Central Provident Fund advisory panel from 2014 to 2016, and am a committee member of Securities Investors Association (Singapore) as well. These will be part of my legacy too.

By now, you will realise that my idea of legacy planning is quite different from what is usually described by the wealth management or legal industry. In fact, I often frown when I read advertisements selling ULPs as legacy planning. It is as if money is the only legacy we can leave behind. True legacy planning starts with first deciding what you want people to remember you for; beliefs that you wish to perpetuate; and then, where appropriate and necessary, using financial and legal means to achieve your goal. Otherwise, you are simply leaving behind an inheritance via an estate plan.

You will also realise that leaving behind a legacy requires time and, therefore, it is certainly not something you should only start to think about in the last years of your life.

So, as you take your first steps towards legacy planning, start by deciding the kind of legacy you want to leave behind, and how you can create it.

About 15 years ago, I was doing a financial literacy workshop for a group of corporate participants. When talking about leaving a legacy, one of them commented: “Who cares about whether I will leave a legacy when I am already dead?”

I was saddened by his apathy. Because whether we like it or not, we all leave behind a legacy. It can be a good or a bad one.

What kind of legacy do you want to leave behind?

The writer is CEO, Providend Ltd, South-east Asia’s first fee-only comprehensive wealth advisory firm