Dolly Parton’s Legacy: What Retirees Can Learn About Lasting Wealth

Well, you know, Jess, we talk a lot about family, generational wealth, and how that all works.

And it was really neat.

I've watched all these interviews with her nieces and her nephews, and how many of them talked to her at 4 a.m. in the morning.

She had relationships with all of them.

You know, one of her nieces went to beauty school, and Dolly was her biggest fan and financially helped her through it emotionally.

you know mentally and helped her get her career going and all of those not only her siblings but all the nieces and nephews have a dolly story and they're all beautiful and i think that's so much about life she financially helped them and i see that a lot in families today how you know she didn't have any children so she wanted to make a difference with her nieces and nephews And I see that so often in my career.

But just sometimes we help people and sometimes we enable them.

So we need to make sure when we help them that we're not enabling them for the future.

Absolutely.

And when it comes to helping individuals like you do every single day, Steve, you and your team, Steve, yourself, you've been doing this over three decades.

It's really helping wade through all this, what can be, I guess, consumed as a little bit of, I guess, to be misconstrued as stress, right? There's so much information there about retirement.

There's so many big decisions to make, so many different complicated strategies, but you make it easy so that when they sit down with you, not only is it exciting to talk about retirement, but You're really diversifying that retirement income plan.

And just because we're talking about Dolly, by the way, her music catalog alone was worth $120 million.

But as we talk about mailbox money, right, creating that diversification and paying yourself for the rest of your life, she literally created what even her team called mailbox money because she did, you know, Dollywood, cosmetics, clothing.

She did all sorts of stuff to give her those different streams flowing from assets that she owned outright.

How cool is that?

You know, in my family, Jess, my mom, when my kids were really young, they're now 34, for all the grandkids, she started putting money up every month, the month they were born.

And so when they got to college age and wedding age, they had this big chunk of money.

One of my nieces is getting married in San Diego the end of this month.

And we're going to be going to the wedding.

And she's using that money from my parents to pay for her wedding.

So I just think it's neat how families come together and help each other out and really extend the olive branch to make a difference.

Absolutely.

Again, it's all about working together and you'll experience that family feeling as well when you come down and you sit down with Steve, Derek and the team here at Hoyle Financial.

And listen, talking about creating generational wealth and making decisions as a family, Steve, you are very open and honest.

Well, you know, Jess, we talk a lot about family, generational wealth, and how that all works.

And it was really neat.

I've watched all these interviews with her nieces and her nephews, and how many of them talked to her at 4 a.m. in the morning.

She had relationships with all of them.

You know, one of her nieces went to beauty school, and Dolly was her biggest fan and financially helped her through it emotionally.

you know mentally and helped her get her career going and all of those not only her siblings but all the nieces and nephews have a dolly story and they're all beautiful and i think that's so much about life she financially helped them and i see that a lot in families today how you know she didn't have any children so she wanted to make a difference with her nieces and nephews And I see that so often in my career.

But just sometimes we help people and sometimes we enable them.

So we need to make sure when we help them that we're not enabling them for the future.

Absolutely.

And when it comes to helping individuals like you do every single day, Steve, you and your team, Steve, yourself, you've been doing this over three decades.

It's really helping wade through all this, what can be, I guess, consumed as a little bit of, I guess, to be misconstrued as stress, right? There's so much information there about retirement.

There's so many big decisions to make, so many different complicated strategies, but you make it easy so that when they sit down with you, not only is it exciting to talk about retirement, but You're really diversifying that retirement income plan.

And just because we're talking about Dolly, by the way, her music catalog alone was worth $120 million.

But as we talk about mailbox money, right, creating that diversification and paying yourself for the rest of your life, she literally created what even her team called mailbox money because she did, you know, Dollywood, cosmetics, clothing.

She did all sorts of stuff to give her those different streams flowing from assets that she owned outright.

How cool is that?

You know, in my family, Jess, my mom, when my kids were really young, they're now 34, for all the grandkids, she started putting money up every month, the month they were born.

And so when they got to college age and wedding age, they had this big chunk of money.

One of my nieces is getting married in San Diego the end of this month.

And we're going to be going to the wedding.

And she's using that money from my parents to pay for her wedding.

So I just think it's neat how families come together and help each other out and really extend the olive branch to make a difference.

Absolutely.

Again, it's all about working together and you'll experience that family feeling as well when you come down and you sit down with Steve, Derek and the team here at Hoyle Financial.

And listen, talking about creating generational wealth and making decisions as a family, Steve, you are very open and honest.