What will your legacy be?

David Swensen, one of the greatest investors, died this year on 5 May 2021 aged 67. The news articles that have come out include the following quotes:

David Swensen, the chief investment officer at Yale Univeristy who helped revolutionize how college endowments are managed, has died…there’s David Swensen, Warren Buffett … and everyone else”. – Bloomberg

David Swensen, a money manager who gave up a lucrative Wall Street career to oversee Yale University’s endowment and proceeded to revolutionize endowment investing, in the process making Yale’s the best-performing fund in the country over a 20-year period – NY Times

David Swensen, an influential investor, died on May 5^th – The Economist

Swensen was responsible for managing the money that Yale University uses to fund it’s education. During his career he grew the fund from US$1 billion to US$31 billion.

Swensen could have been one of the richest men in the world. Instead he chose to stay at Yale and instead leave behind a legacy he believed was worth a life’s work. Swensen was driven by the fact that his investment gains helped the institution change young people’s lives. Swensen also helped out the university by turning up to teach an investing course to students.

When we think about someone like Swensen it gives you an opportunity to consider what you want your legacy to be….You don’t have to be a billionaire or to revolution investing….But what will people speak about at your funeral? Will it be how much money you had? The car you drove? Or will it be the values you had, the community works you were involved in, the donations of time or money…..

It is worthwhile stepping back and thinking about these legacies we leave behind…the person people will remember.

People remember Swensen for his devotion to investing in students, by mentoring young investors and teaching classes to his students.

At Carter O’Neill Legal we have recently become proud Patrons of the Australian Ballet. It is exciting to be part of a team that values the arts and great to go along and enjoy the shows.

Between our team we are also involved in playing in and sponsoring local sporting teams, volunteer work and pro bono legal work.

What do you want people to remember you for?

If you are thinking about your legacy, or protecting and providing for your family, then give us a call to prioritise your Estate Plan on 02 9151 7339 or 02 4308 8892