Anushree Jain is the CEO of Titan Global Technologies LLC.
Legacy goes beyond passing down assets. It’s about making a lasting impact that transcends generations, contributing to culture, society and the environment.
As investors, we have the opportunity to build legacies that reflect our values, passions and vision. This ensures that what we leave behind resonates beyond financial returns.
Intergenerational Wealth: Lessons From ‘Old Money’
Families with generational wealth often rely on nontraditional assets to preserve their financial stability over decades. Beyond traditional portfolios, their assets often include private equity, hedge funds, real estate and heirlooms. These investments diversify risk while carrying cultural and historical significance.
A hallmark of “old money” is intentionality in succession planning. For example, a family will pass down its heritage properties and art collection with care so that those remain symbols of values and continuity. Modern investors can adopt this principle by embracing alternative investments as part of their long-term wealth strategy.
The key lies in recognizing that legacy isn’t just about financial growth. It’s about preserving and passing on values and purpose.
Art And Collectibles: Timeless Narratives Of Wealth
Art and collectibles have long been intertwined with legacy. A curated collection is a statement of identity and vision.
Take art, for example. Masterpieces aren’t just financial investments. They preserve cultural significance and personal taste. The Rockefeller family’s art collections have adorned homes and museums alike, leaving a cultural imprint that resonates across generations. Similarly, collectibles such as rare books, vintage cars, handbags and luxury watches are expressions of identity-driven wealth.
Luxury watches have become a sought-after asset class, with several top-tier brands seeing impressive returns. Over the past few years, rare and limited-edition timepieces have performed well as investments, significantly outpacing traditional financial markets. From 2018 to 2023, luxury watches saw an annual price increase of about 20%, while the S&P 500 only rose by 8% in the same period.
Key brands including Rolex, Patek Philippe and Audemars Piguet have shown particularly remarkable returns. For instance, a Patek Philippe watch purchased between 2017 and 2022 could yield a return of 207%. These brands’ watches often appreciate due to their craftsmanship, rarity and brand legacy. The market for pre-owned luxury watches is projected to reach 35 billion Swiss francs ($38.4 billion) by 2030, demonstrating a growing interest in watches as an alternative investment.
I have a passion for collecting handbags. It’s fascinating to see how certain designer pieces have appreciated in value over time. Prices for iconic Louis Vuitton, Chanel and Hermes bags have increased significantly since 2019. These trends highlight how luxury handbags can appreciate over time, alongside traditional investments such as art.
The sophistication of India’s heritage is perhaps best reflected in the magnificent jewels that adorned the maharajas and their courts. Pieces such as the famed Patiala Necklace, crafted by Cartier for the Maharaja of Patiala, epitomize the confluence of extraordinary craftsmanship, rarity and opulence. These treasures were powerful symbols of legacy, often passed down through generations, embodying a family’s enduring influence and wealth. Such heirlooms remind us that true legacy lies in assets that carry stories, cultural depth and timeless value.
For contemporary investors, curating art or acquiring unique collectibles offers a dual benefit: financial appreciation and the chance to contribute to a broader narrative. Just as certain investments require time to reveal their potential, the ability to revisit and reframe our approach often leads to the greatest returns, both financially and in lasting impact. These investments serve as tangible representations of values and as enduring elements of one’s legacy.
Impact Funds: Aligning Wealth With Purpose
If art and collectibles represent personal expression, impact investing amplifies societal contribution. Impact funds channel capital into ventures that drive social or environmental change—such as renewable energy or affordable housing.
Unlike traditional investments, impact funds generate dual returns: financial performance and measurable social progress. For example, a fund supporting clean energy startups offers the potential for high financial returns as it contributes to addressing climate change. This approach resonates strongly with younger generations. Millennials and Gen Z investors increasingly prioritize investments that align with their values, viewing wealth as a tool for meaningful change. Impact investing blends purpose and profit so financial decisions contribute to a larger good.
Crafting Your Legacy Playbook
Building a strategy rooted in legacy requires thoughtful planning and execution. Here are four key steps to guide the process:
1. Identify your passions. Begin by reflecting on what matters most to you. Whether it’s sustainability, art or education, your investments should align with these priorities.
2. Collaborate with experts. Building a meaningful legacy often requires partnerships. Seek advice from art curators, fund managers or social entrepreneurs to identify opportunities that resonate with your goals. Consider selecting an investment firm with expertise in alternative investments. A firm that understands the nuances of these assets can help you make strategic choices that align with your vision for long-term impact.
3. Balance financial and emotional returns. Nontraditional investments require patience and foresight. Ensure your portfolio balances high-impact but slower-growth assets with more liquid options to maintain financial flexibility.
4. Plan for succession. Intergenerational wealth transfer is a critical part of legacy planning. Structuring nontraditional assets through trusts or other legal mechanisms can preserve them and maintain their long-term impact.
Wealth Fades, Legacies Endure
Nontraditional investments offer a chance to redefine wealth. They invite us to think beyond financial metrics and to focus instead on the narratives we craft and the impact we create. This presents an opportunity to take an “old money” approach to legacy building. Whether through art collections, impact funds or passion projects, these investments allow us to build legacies that resonate far beyond the material.
In the end, wealth may fade, but legacies—crafted with intention and vision—endure.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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