We’re told our time horizon shrinks as we age. This makes sense, because the closer we get to retirement, the less time we have left to accumulate wealth. And the nearer we come to having to eventually draw down on that wealth.

But retirement often throws up a whole new set of priorities. Instead of our own time horizon, we’re now thinking about our children’s time horizon; and, as they may have their own families, even their children’s time horizon.

Suddenly, the priority is not just to make your wealth last, but to preserve it for the next generation. And that’s where the real power of advice lies: its ability to transform families by building intergenerational wealth.