家庭财务规划的力量

欢迎来到Investopedia Express对话系列。

Welcome to the Investopedia Express conversation series.

我是Caleb Silver，Investopedia的主编兼People Inc的首席商业编辑，这是我们讨论最重要金钱事务的空间，比如财富以及我们如何积累、保护、分享财富，并用它来活出我们想要的生活。

I'm Caleb Silver, the editor in chief of Investopedia and the chief business editor for People Inc, and this is our space to talk about money matters that matter most, like wealth and how we build it, protect it, share it, and use it to live the lives we want to live.

对于家庭而言，财富管理是建立持久稳固健康基础的根本，这需要规划。

For families, handling wealth is fundamental to building a strong and healthy foundation that endures, and that requires planning.

富达刚刚发布了其2025年家庭与财务研究报告，审视了美国人在积累和保持财富方面的表现。

Fidelity has just released its twenty twenty-twenty five family and finance study and examines how Americans are faring when it comes to building and retaining wealth.

该研究调查了跨世代家庭，探讨他们是否进行关于金钱的对话，以及遗产规划和沟通对于凝聚家族财务共识的关键作用。

That study looks at families across generations and the conversations they are or aren't having about money and how estate planning and communication are critical to bringing everyone together around family finances.

为我们解读这些见解的是Ryan Victorin，他是认证理财规划师，富达投资副总裁兼财务顾问。

Joining us to unpack these insights is Ryan Victorin, a CFP, a vice president and a financial consultant at Fidelity Investments.

非常感谢您的到来。

Thanks so much for being here.

谢谢邀请。

Thanks for having me.

好的。

All right.

你接触过很多家庭。

You talk to a lot of families.

嗯。

Mhmm.

我知道富达有很多顾问都在与家庭沟通合作，但就家庭财务而言，你看到的最大错误有哪些？

And I know there's so many advisors at Fidelity that communicate with families and work with families, but what are some of the biggest mistakes you see when it comes to families and finances?

嗯，我想你是对的。

Well, I think, you know, you're right.

我每天都会接触许多家庭， 日复一日地与他们面对面交流， 我所看到的错误就是缺乏沟通。

I work with families every single day, day in and day out across the desk from them, and what I see in terms of the mistakes is not communicating.

可能是完全不沟通，有时则是没有与合适的人沟通，没有做到完全开放透明的交流。

It could be not communicating at all, and sometimes it's not communicating with the right people, not being fully open and transparent with the communication as well.

这通常会导致疑问，有时引发分歧，有时事情没有按应有的方式安排妥当，有时缺乏对财富或财富转移的明确意图，最终造成一些紧张关系，不幸的是这种情况我见得太多了。

That usually leads to questions, sometimes disagreements, sometimes things aren't set up the way that they really should be, sometimes a lack of intent behind wealth or the transfer of wealth, and it leads to some strain, and I see a lot, unfortunately.

嗯，你也知道这一点。

Well, you know this too.

很多问题其实根深蒂固，对吧？

A lot of that is just deeply rooted, right?

这是心理层面的，与我们成长过程中接触金钱的方式有关，与我们的成长环境密不可分。

It's psychological, it's the way we're raised around money, it's the way we grew up with it.

因此，能够打破我们学到的、内化的或对金钱的恐惧，对家庭乃至个人都至关重要。因为只有开展这样的对话，保持透明，这才是让整个机制运转的基础。

So having to, being able to break down a lot of what we've kind of learned or ingrained or been afraid of around money is super important for families, but also for individuals because having that conversation, being able to be transparent about that, that's fundamental to making this whole thing work.

是的。

Yeah.

完全同意。

Absolutely.

我们在不同世代中都看到这种根深蒂固的观念，几乎刻进了他们的骨子里，明白吗？

And we see across different generations where that's really ingrained and it's almost in their bones for it, you know?

比如，想想65岁到75岁的婴儿潮一代，他们的父母经历过经济大萧条。

So, you know, we see some if you think about the boomer generation who are 65, maybe 70, 75 years old, their parents went through the great depression.

而那一代人，他们从不谈论金钱。

And that generation, you don't talk about money.

他们不与家人沟通这方面的事。

You don't communicate it.

他们把金钱问题深埋心底。

You keep it to yourself.

这种观念在他们心中根深蒂固。

And then again, it's just it's just rooted very, very deeply in them.

这种思维模式很难打破，几十年来他们形成了不谈钱的本能反应，只专注于存钱和增值，认为这才是唯一需要考虑的事。

And that's a hard system to break, and it's a lot of decades of muscle memory of not talking about it and just focusing on let me save my money and grow my money, and that's all I really need to worry about.

现在真正需要开始思考的是：我该如何规划财富传承？正因如此，我们才开展了这项研究来观察这些趋势。

And then it really needs to start to happen to how do I think about this transfer of wealth, And, you know, that's why we did the study that we did to see how these are going.

我们稍后会详细讨论这个问题。

We're gonna we're gonna get into it in a little bit.

那么瑞恩，家庭该如何弥合认知准备与实际准备之间的差距呢？

But how can families bridge the gap, Ryan, between perceived readiness and actual preparedness?

他们怎么知道自己的孩子已经准备好进行这场对话了？

How do they know their kids are ready for this conversation?

是的。

Yeah.

所以我认为这要从家庭对话开始，坐下来坦诚地讨论，回到你所说的那些真正重要的价值观，同时也要理清所有事情的结构。

So I think it starts with the family conversation and just sitting down and being really open and honest about kinda going back to what you're saying about the values that are really important, but also how everything is really structured.

因此，对所有事情保持完全透明，确保方方面面都考虑到，让每个家庭成员都参与这场对话，这非常有效。

So just being really transparent about everything and making sure that all the bases are covered and everybody's in that family conversation is really powerful.

没错。

Yeah.

这非常重要。

And it's super important.

那么这些对话应该从什么时候开始？

So when should these conversations start?

我记得，当我们有了孩子时，我们三十多岁，三十五六岁，由于我的工作性质，同时也因为我希望关于金钱能保持透明。

I remember, you know, we had our kids and we were in our, you know, our thirties, mid thirties, and and because of what I do, but also I just wanted to be transparent about money.

我有

I have

是的。

Yeah.

你知道，我成长过程中也留下了一些经济上的伤痕，我想确保他们知道钱从哪里来，又花到哪里去。

You know, some financial scars from from growing up as well, and I wanted to make sure that they knew where where the money came from, where it went.

但应该什么时候开始和孩子们谈这个话题呢？

But when should the conversation start with kids?

这是个平衡问题。

That's a balance.

对吧？

Right?

我认为一旦你把自己的财务安排妥当，可以说，我发现人们对于如何进行这种谈话可能会有些焦虑。

I think once you've built your own you got your own sort of financial house in order, so to speak, I find there can be a little bit of anxiety about how to have that conversation.

我很少看到有未成年孩子参与这种讨论。

I don't see it very often with minor children.

但我想说的是，如果你开始和孩子谈论金钱，还不必立即向他们透露你的财务状况。

But what I would say is if you start to talk to your kids about money, you don't have to start talking to them about your money yet.

你是在培养他们理解什么是账户、如何操作，以及如何通过这些投资实现你提到的目标。

You're sort of training them to understand what is an account, how do I do this, how will it enabled me to your point, with the investments?

这将如何让我在未来的生活中拥有一定的自由和自主权？

How will that allow me to have some freedom and agency later on in life?

所以你是在一定程度上培养他们的金融意识。

So you're training them in the world of finance to a degree.

但当他们年纪稍长、生活稍微稳定后——每个家庭的情况都会有所不同。

But then once they get to be a little bit older and they're a little bit more established, and every family is gonna be a little bit different.

对于二十多岁、三十多岁的年轻人，我们认为他们能够理解这类话题，我觉得这样做没什么不妥。

But kids who are in their twenties and thirties who we can think handle can handle that conversation, I don't think there's anything wrong with that.

我宁愿谈话来得稍早一些，也不要太迟。

And I would rather have it a little too early than too late.

当然。

Sure.

可以从简单的烘焙义卖、柠檬水摊开始，

And it could start with just something as simple as the bake sale, the lemonade stand,

是的。

Yes.

无论他们是想通过什么方式筹集一点钱，还是零花钱，对吧？

Whatever it is they're trying to do to raise a little bit of money or the allowance, right?

零花钱，需要劳动赚取的零花钱，对吧？

The allowance, the earned allowance, right?

我就是这样教育我的孩子们的。

That's what I do for my children.

他们必须通过劳动获得，明白吗？

They have to earn it, you know?

通过劳动获得，但也要明白这样做的意义，对吧？

Earn it, but also what's the point of it, right?

没错。

Exactly.

目的是什么

What's the

赚钱的目的是什么，拥有金钱的意义又是什么，真正要探讨的是这个定义。我喜欢和我的孩子们以及他们的朋友进行这样的对话：财富的目的是什么，对吧？

point of earning money, and what's the point of having money, and that real, getting to that definition, and I love having this conversation with my kids and their friends, what is the purpose of wealth, right?

这一切都是为了什么？

What is this all about?

你宁愿变得富有吗？

Would you rather be rich?

你宁愿拥有财富吗？

Would you rather be wealthy?

这对你意味着什么？

What does that mean to you?

人们尤其是年轻人如何看待这个问题，深入探讨起来非常有趣。

How people think about it, especially younger people, is fascinating to to get into.

这是我们经常在Investopedia上被问到的问题，无论是个人还是家庭都会问。

So this is a question we often get at Investopedia, both for individuals and for families.

你如何判断自己已经准备好与理财规划师合作了？

How do you know you are ready for a financial planner, someone to work with?

好的。

Okay.

我认为每个人都应该有个财务规划。

I'm gonna say anybody should have a financial plan.

具体说到与规划师合作——当然我现在是以富达代表的身份发言——因为我们有针对人生任何阶段的顾问服务。

So and but working with a planner in particular and, of course, now I'm gonna speak on behalf of Fidelity, right, because we have someone for any stage that you are in.

如果你刚起步，第一次开设401k或个人退休账户，就能获得帮助。

If you are just getting started, first four zero one k or IRA, you have access to help.

这不需要你支付任何费用。

It doesn't cost you anything.

你随时可以找人咨询获取协助。

You can always talk to somebody to get some assistance.

当然，随着时间的推移，在你的财务生活中，随着收入增加、储蓄增多，情况也会变得稍微复杂些。

And then, of course, as time goes on in, you know, your financial life, as you start to earn more, you start to save more, you start to get a little bit more complexity.

随着财富增长，你可能会拥有两个账户、三个账户甚至五种不同类型的账户。

Now you might have two accounts, three accounts, five different types of accounts as your wealth grows.

情况会变得更复杂，可以进行更深入的讨论，但我认为一个常见的误解是必须富有才能获得理财规划师或某种财富管理服务，这并不正确。

There's more complexity and, you know, a deeper conversation that can be had, but I think it's an a common misconception that you have to be wealthy to get access to a financial planner or some sort of wealth management, and it's just not true.

至少在我们富达公司，这绝非事实。

At least it's just not true, you know, at Fidelity.

因此无论你的资产规模多小或多大，我们都能提供相应服务。

So we have that service for no matter how small, no matter how large you are.

服务对象既包括刚起步的新手，也涵盖拥有非常复杂财富结构的高净值人群。

It can be the people who are just getting started or very significant, very, you know, complicated wealth structures.

再次强调，这项面向所有人的服务完全免费。

And again, it doesn't cost you anything that is available to everybody.

我们认为客户理应享有这项权益。

We feel like our clients are entitled to it.

是的。

Yeah.

记得当我终于请了一位理财顾问时，我说过直到那时我才意识到自己有多少认知盲区。随着年龄增长，财务状况越复杂，有人帮你保持计划执行就格外重要——毕竟情绪波动很容易让人偏离正轨。

Well, remember when I finally got one, I said I didn't know what I didn't know until I realized how much I was missing, and the older you get and the more complicated your financial life becomes, it really helps to have somebody with you, keep you on that plan because, you know, your emotions will take you places as well.

我经常说，比如对很多人而言，退休规划是个重大目标。

I often say too that, you know, let's say, as an example, retirement is a really big goal for a lot of people.

对于60岁的客户，我虽然还没到退休年龄，但我处理过的退休案例比你多上千倍。

So I may say to a client who's 60, I may not be 65 or 60 heading into retirement, but I've gone through retirement about a thousand more times than you.

这些年来我见过各种问题，回答过各种咨询——近二十年的从业经历让我对这些情况了如指掌，这也是我们这行从业者的普遍优势。

And so I've seen the questions, and these are you know, I've asked them, I've answered them over the, you know, almost twenty years that I've done this, and that's very common for a lot of the people in our in our seat.

正如你所说，我们清楚哪些是你们需要了解的，可以全程提供指导。不懂这些完全没关系。

To your point, we know a little bit about what you should know, and we can help you along that way, and it's okay if you don't know it.

明白吗？

You know?

你在你的专业领域深耕多年，而这是我的专长——这正是我们存在的意义。

You've spent years doing what you do versus what I do, so that's what we're here for.

这其实就是我们最基础的服务理念。

It's really foundational here.

没错。

That's right.

让我们深入探讨一下2025年家庭与财务研究，尤其是关于近年来热议的巨额财富转移——预计约有124万亿美元财富将从老一代转移到年轻一代。

Let's dig in a little bit to the 2025 family and finance study, especially as it relates to the great wealth transfer that everyone's been talking about for the past few years as an estimated $124,000,000,000,000 or so in wealth that's expected to pass from older to younger generations.

我想我错过了这波浪潮，但我们都知道这正在我们国家发生。

I think I miss my wave of that, but we do know that that is what is happening in this country.

长期投资的人群积累了巨额财富，同时他们还拥有实物资产。

A tremendous amount of wealth has built up over time with people who have been invested for a long time, but also own real assets.

这正是调查所关注的核心：如何开启这些对话？

This is kind of where the stuff that the survey addressed, looking into it, was how do you have the conversation, right?

更重要的是，如何分享这些细节，并以负责任的方式进行财富转移规划？

But also, how do you share those details and how do you plan that transfer in a responsible way?

那么你们发现了什么？

So what did you learn?

我们收获颇丰。

Well, we learned a lot.

当我们看到这项研究时，发现一个有趣的现象，我经常被问到一个问题：这些数据有没有让我感到惊讶？

And it was interesting when we saw this study, one of the common questions I get asked was, was I surprised by any of the data?

答案是没有，因为这就是我日常工作中所见的情形。

And the answer was no because this is what I see in my, you know, in my day to day.

每个人的财务状况都会有所不同。

And everybody's gonna have a different financial picture.

每个家庭的关系动态也不一样，但关键是要明确哪些是对你重要、你想转移财富的对象，并开始思考如何将财富传递给他们。

Everybody's gonna have a different family dynamic, but it's really important to understand who are the people that obviously are important to you that you wanna transfer wealth to and start to think about how you want to get that wealth to them.

对吧？

Right?

我来举几个例子。

So I'll give you some examples.

有些客户会说：与其等我离世时留下X金额的财产，不如现在就开始帮助我的孩子们。

Some of my clients say, rather than passing away with x amount of dollars at the end of my life, my children need help now.

我更愿意制定一个计划，在我还在世时就能逐步把这笔钱给到他们。

I would rather build out a plan where I can start to give them some of this money while I'm still here.

有时候是消费支出，比如带全家去迪士尼乐园，或者去任何你们想去的地方。

And sometimes it's spending money, bringing the whole family to Disney World or going, you know, to wherever you wanna go.

但同时也要非常现实地认识到，这笔钱的主要目标，正如你所说，是确保他们能过上想要的生活，永远不会面临资金耗尽的威胁。

But then also being very realistic that the primary goal of the money is, you know, to your point, is to make sure they have lived the life that they want and not ever have a threat of running out of it.

但同样重要的是，如果有遗产传承，如你提到的124万亿这个数字，它确实很庞大，确实需要妥善规划，既要照顾到你关心的人，就像我之前说的，也要考虑税务问题。

But also if there's a legacy, to your point, that number of a 124,000,000,000,000, it's a lot, and it really needs to be structured in a way that accounts for the the people you care about, like I said before, but also taxes, estate taxes, and making sure that the beneficiaries are always, always, always up to date.

这一点我必须强调。

I cannot stress that.

如果听众们从这次对话中只记住一件事，那就是请检查你的受益人信息是否最新。

If anybody listening takes one thing away from this conversation, please check your beneficiaries and make sure they're up to date, and making sure that that's all in line with your estate plan so that things, you know, assets move really smoothly.

但同样重要的是，首先要制定你的财务计划，确保其他事项都安排妥当。

But again, it's building your financial plan first and making sure that everything else is in order after that.

特别是对于年轻一代来说，他们可能在经历财富转移，但财富 is not just here。

This notion for especially for you for younger generations maybe experiencing, they've grown up potentially wealthy or around enough money, but if there is going to be a wealth transfer, a significant transfer of assets to them, this almost sudden wealth syndrome has to start with core values, right?

But then, it's not just here you go, but what is the point of it again?

Because it's not just here you go, but what is the point of it again?

围绕金钱价值展开这样的对话至关重要，这正是理财顾问和规划师能够提供帮助的地方，对吧？

And having that conversation around the value of money is critical and that's something an advisor can help with, then a planner can help with, right?

是的，完全正确。

Yeah, absolutely.

面对即将到来的财富传承，我们在数据中发现一个有趣现象：95%的子女——无论是X世代、千禧一代还是Z世代——认为自己已为继承做好准备，但只有25%的父母认同这种准备是充分的。

And with this wealth transfer that's coming, one of the things we found in the data, what's interesting is that ninety five percent of the kids, it could be Gen X, Millennial, it could be Gen Z, 95% of them feel prepared for this inheritance, and only 25% of the parents agree that that's fair.

这真是个耐人寻味的认知差距。

That's a pretty interesting disconnect.

确实如此。

Yes.

我认为这与我日常观察到的情况完全吻合。

And again, I think it tracks for what I see in my day to day.

根源在于信息不透明——无论是账户存放位置、账户类型、实际金额、资产归属方式还是受益人设置。表面看似一切井井有条，实则复杂得多。

I think the root of that comes with the lack of transparency from either where the accounts are, what the accounts are, how much are in the accounts that actually exist, and how things are titled and who the beneficiaries are, there's a perception that everything's buttoned up, and it's actually much more complex.

你还发现，刚开始理财的Z世代或千禧一代（可能二三十岁甚至四十岁），他们的财务计划相较于父母的计划可能简单得多。

And then what you also find is that, you know, the generations that are just getting started, you know, Gen Z or or millennials, someone might be in their 20, thirties, even forties, their plan on a relative basis to their parents' plan might be quite simple.

可能就是：这是我的银行账户。

It's might like, here's my bank account.

这是我的401k，还有可能是个人退休账户或经纪账户。

Here's my 401, and, like, maybe here's an IRA or a brokerage account.

但父母可能有多种类型的账户。

But mom and dad might have multiple types of accounts.

他们可能有信托账户。

They could have trust accounts.

他们可能有养老金。

They could have pensions.

就像Z世代会问：什么是养老金？

Like, this is a word that Gen Z is like, what's a pension?

还有：什么是传真机？

That and what's a fax machine?

差不多吧。

Pretty close.

就像，差不多是一回事。

Like, same same thing.

这些都是他们从未接触过的新型账户。

And so it's new types of accounts that they've never encountered before.

还有不断变化的税法条款，你也必须非常熟悉。

And then there's a constant revolving tax code change that you have to be really familiar with as well.

所以这种脱节现象，我并不感到意外。

And so that disconnect, I'm not surprised by.

我认为，归根结底还是要通过沟通尽量把事情讲清楚。

And I think, again, the root of that is the communication to try to make it as clear possible.

是啊。

Yeah.

这就是为什么需要理财规划师帮你理清这些概念，比如理解'递升基准'这类核心基础知识很重要，要向听众解释清楚，因为这对家族传承投资组合很关键

Another good reason to have a planner to help you steer understand those things, and then understanding some just core fundamental things like the step up basis, which is important, and and explain that to to the listeners because this is important for families passing on investment portfolios or

没错。

Yep.

或者是401k退休计划。

Or four zero one k's.

这具体是如何运作的？我们需要了解哪些内容？

How does that actually work, and what do we need to know about that?

成本基础的上调意味着首先你得明白什么是成本基础。

So a step up in cost basis means and you gotta understand with what a cost basis is first.

对吧？

Right?

如果你购买证券，可能是共同基金、股票、债券基金等等，你以某个价格买入后，它的价值会随时间涨跌。

So if you buy a security, it could be mutual fund, it could be a stock, a bond fund, whatever it is, you bought it for a certain price and then it either goes up and down over time.

假设经过几十年，它增值了。

So let's say over decades, it grows.

当你卖出时，就需要缴纳资本利得税，明白吗？

So when you go to sell it, you owe capital gains taxes, okay?

所以这部分内容你必须理解。

So you have to understand that part.

但当有人去世时，成本基础会按我们所说的'递增'调整至其死亡当日的资产价值。

And then when someone passes away, though, the cost basis gets what we call stepped up to whatever the value was on the date of their death.

所以现在成本基础不再是三十年前的那个数字，而是以去世当日的价值为准。

And so now rather than, you know, the cost basis from, call it, thirty years ago, it's now on the same date of the passing.

因此出售资产时的税务影响，与生前赠予的情况会有很大不同。

And so the tax consequences to selling it could be much different than if they, you know, had given it away.

这也是考虑是否将股票或共同基金赠予子女的关键——你赠予的是原始成本基础而非递增后的价值。

That's also an idea of if you give stock or mutual funds to your kids because you're gonna be gifting, you gift the cost basis with it versus a step up.

所以当我们开始思考'我要留给孩子什么遗产'时，

So when we start to think about what am I gonna give, what are my kids gonna inherit?

就需要从战略角度考虑：他们应该继承哪些资产，以及从税务角度怎样做最合理。

We start thinking about strategically, what should they inherit and what from a tax perspective makes the most sense.

这与401k或IRA账户完全不同——那些账户里的任何交易都不会产生即时税务影响。

Very different from a four zero one k or an IRA that any trade you make doesn't have a tax consequence to it.

只有在提款时才需要缴税，这属于税法中另一个不同条款，也就是最近通过的《安全法案》所规定的。

It's only upon withdrawals that taxes are actually owed, and this is a different part of the the tax code, but what's called the Secure Act that was recently passed.

如果IRA的受益人不是符合条件的指定受益人，就必须在十年内将其清空。

You have to drain an IRA within ten years if it's not an eligible designated beneficiary.

所以这是我们试图解决的一个大难题。

So it's a big puzzle that we try to put together.

这就是关键所在。

That's the point.

这是个难题，而其中最棘手的是你必须应对的税务规划之旅，这是另一回事。

It's a puzzle, and in the middle of it all is very tricky tax navigation journey that you have to do, which is another thing.

当我开始与我们的规划师合作时学到的就是，哇，税务和税务低效方面有太多事情发生，我甚至都没意识到他们能在这方面帮助你。

That's what I learned when I started working with our planner was, wow, there are so much happening within taxes and tax inefficiency that I wasn't even aware of that they can help you with.

这一点也非常重要。

That's super important as well.

就像你之前提到的，将成为这种财富转移一部分的资产类型，不仅仅是股票、债券和金条、保险箱里的现金，我们谈论的是更复杂和多元化的资产，而且它们正变得越来越复杂，比如私募市场、私募资本，想想加密货币等领域正在发生的事情等等。

And then to your point earlier, the types of assets that are gonna be part of this wealth transfer, it's not just stocks, bonds, and gold bars, cash in a safe, we're talking about more complicated and complex assets, and they're getting even more complicated and complex, like private markets, private capital, think about what's happening in crypto, etcetera.

所以你必须真正了解所有这些资产类别的格局，以及它们在这种财富转移中是如何运作的，对吧？

So you have to actually understand the landscape with all those asset classes and how they work within this wealth transfer, right?

是的。

Yes.

而且，你知道，房地产也是一个非常常见的

And it's, you know, real estate is also a really common

确实如此。

Absolutely.

常见的资产类别。

Common one as well.

我给你讲一个我客户的故事，就像你之前提到的例子，他经营着所有事务，他妻子并没有太多参与，她更多参与日常事务、慈善捐赠这类事情，而他拥有多个商业项目。

And I'll give you a story of a client of mine where, you know, he example that you gave before where he runs everything, his wife really isn't involved, she's more involved in the day to day, the charitable giving, that type of thing, and he's got multiple business ventures.

当我开始询问所有权问题时，

And when I start asking questions of who is the ownership?

他说，嗯，我想是我。

And he said, well, I think it's me.

我说，好吧。

I said, okay.

嗯，我觉得这样还不够好。

Well, I think isn't good enough.

我们需要明确知道确切情况。

We need to go like, we need to know definitively.

然后他说，别担心。

And he said, don't worry.

别担心。

Don't worry.

我已经把它写在这张纸上了。

I have it written down on this one piece of paper.

好吧。

Okay.

我的血压瞬间飙升，因为这样根本不行。

And my blood pressure goes through the roof because that's not good enough.

所以我们确实需要这些文件来了解它们在哪里以及所有权情况，这也体现了一个规划师的价值。

And so we really need the documents to know where they are and to know what the titling is because and this is the value of a planner as well.

我们全程参与了这次资产转移

We've sat through this transfer.

首先，我们一直陪伴客户度过这段悲痛的时刻

We've held our clients' hands through this, first of all, moment of grief.

大家要明白，当这种情况发生时，意味着有人离世了，这对任何人来说都是情感上的打击

Like, let's all acknowledge that when this is happening, someone has passed away, and that's difficult emotionally for anybody.

但除此之外，财务方面也可能让人不堪重负，特别是如果你不熟悉这些事务

But on top of that, it can be really financially overwhelming, especially if it's not something that you're used to.

所以我们见证了规划得当的方案能尽可能简化流程

So we've seen the way plans are set up that go as easy as possible.

失去至亲从来都不容易，而且其中涉及大量繁琐手续

It's never easy because you've lost a loved one, but and there's a lot of logistics to it.

我们也见过毫无规划造成的混乱局面

And we've seen the lack of a plan that's a mess.

这直接关系到资产能否快速高效地完成转移——根据复杂程度决定赔付方式——还是可能拖上数年，还要花费大量资金来弥补

And it's the difference between, you know, assets being transferred quickly, efficiently, and again, depending on the complexity for how they get paid out versus literally over years it can take and costs a lot of money to fix.

在失去至亲之后，最不需要的就是各种复杂问题，这时候你需要有人帮你理清这些。

That's the last thing you need after you've lost a loved one is is to have the complications, and and you need someone to help sort that out for you.

那么我们来谈谈遗产规划，因为我知道财务规划中很大一部分是围绕退休展开的。

So let's talk about legacy because I know that in financial planning, it's a lot of it is around retirement.

我们什么时候才能最终停止工作，去旅行享受生活？

When can we finally stop working and traveling and enjoy it?

但对许多家庭来说，我认为这是一个日益增长的趋势。

But a lot of it for families, and I think this is a growing trend.

如果你不同意可以告诉我，毕竟你一直在与各种家庭打交道。

Tell me if you disagree, but you deal with families all the time.

这关乎遗产传承。

It's about legacy.

这对我们意味着什么？

Does it mean for us?

财富的意义究竟是什么？

What's the point of the wealth?

我们想要留下些什么？

And what are we trying to leave behind?

这一切都包含在经历中，但也包含在给予和参与重要事务之中。

And that is all wrapped up in experiences, but it's also wrapped up in giving and being a part of something important.

我认为这是遗产规划中非常关键的部分。

And I think that is such a critical part of estate planning.

我觉得这是你真正需要从价值观和遗产两方面开始考虑的事情之一。

That I think that's one of the things you really need to start with, the values, but also the legacy.

这有什么意义呢？

What's the point of it?

我说得对吗？

Am I right?

没错。

That's right.

千真万确。

It's absolutely true.

特别是，你知道，从事这行二十年，观察市场近二十年的趋势演变确实很有意思。

And especially, you know, having done this for twenty years, it's been interesting to see the trend both coming out of what the markets have experienced over the past almost twenty years.

如果我们回顾02/1011年时我制定的计划，当时正处于金融危机的余波中，人们最担心的是资金耗尽。

So if we journey back to, you know, the plans I was building in 02/1011, it was I don't wanna run out of money because we were in the throes of still coming out of the financial crisis.

但过去十年甚至近几年市场的爆发式回报，让一些人因积累的财富而提前退休，同时我也开始听到'这比我预想的要多得多'的声音。

But the the explosion of and the returns of the markets over the past even ten years, even the past few years, there are people retiring earlier because of the wealth that they've, you know, accumulated, but it's also I'm starting to hear this is more than I ever thought I would have.

或者'我从没想过可能留下这么多遗产，这原本不在我的计划中'。

Or I never thought I could potentially leave this much behind, and that wasn't my original intent.

这不禁让人思考：我们是否正在过一种不同的退休生活？

And it's to say, you know, sometimes that's, you know, are we living a different type of life in retirement?

我们是否在给予更多？比如更多地帮助子女？

Are we giving more you know, helping the kids more?

同时也在思考：我们可能关心哪些公益事业？

But it's also what are the causes that we might potentially care about.

再次回到核心：是否通过遗产规划留下精神传承？

And is it, again, leaving a legacy behind through your estate plan?

从那个角度来看，现在有帮助吗？

Is it helping now from that point of view?

但你完全正确。

But you're absolutely right.

这就是为什么我从'谁'、'什么'和'何时'开始。

It starts with this is why I start with the who, the what, and the when.

谁对你来说很重要？

Who's important to you?

我们想要实现什么目标，以及何时实现？

What are we trying to accomplish, and when is it happening?

当然要回归到基础：这一切是为了什么，以及什么能让你安心入睡。

And absolutely going back to the foundation of what is this all for and what allows you to sleep at night.

再说一次，每个人对这个问题的答案都会不同。

In, again, everybody's gonna have a different answer to that question.

确实如此。

Absolutely.

但作为夫妻，我记得第一次和妻子做这件事时

But as a couple, I remember doing this for the first time with my wife.

对我们两人来说都大开眼界

It was eye opening for the both of us.

是的

Yep.

尽管我们一直以为彼此想法一致，但真正说出来、当面进行那次对话，然后围绕它构建数字模型，这很奇妙

And even though we've always felt we were on the same page, but actually vocalizing that and having that conversation in front of each other, and then actually building the numbers around that, fascinating.

而且你知道，她是个科学家，虽然不从事这行，但她总能问到核心问题——这一切到底是为了什么

And, you know, she's a scientist, not in this business, but she's always asking the core right questions about what is the point of it all anyway Right.

以及如果我们能积累财富，要如何运用它来实现目标

And how are we gonna use wealth if we if we're able to accumulate it to manifest that.

我认为人们在开始规划时，以及首次积累财富时，都需要有这种北极星般的愿景

And I think people need to have that north star vision when they start planning, but also when they start accumulating wealth for the first time.

没错

Yes.

一直都是这样。

Always.

有时我觉得缺乏规划是源于一种恐惧——担心自己可能无法在预期的时间退休。

And I I sometimes feel like the lack of planning comes with the fear that I might not be able to retire when I thought I could.

我可能无法留下什么遗产，但当你深入研究这些数字时，你会真正认识到了解这些数字及其运作方式的强大力量。

I might not be able to live a legacy, but actually when you dive into the numbers, you actually realize there's real power in knowing those numbers and how to fund it.

我常说，我不是来告诉你该怎么生活的。

And I always say, I'm not here to tell you how to live your life.

我是来教你如何为生活提供资金保障，确保你能按照自己真正想要的方式生活，并帮助那些你真正在乎的人。

I'm telling you how to fund your life so you can make sure that you're living exactly, you know, how you wanna live and helping the people that you you really do care about.

这本质上关乎价值观。

It really is about the values.

与规划师合作时，我总是要确保了解你的价值观，这样才能在对话中为你们双方发声。

And when you work with a planner, I always wanna make sure that I know your values so that giving a voice to both of you, you know, in that conversation.

即使对方不熟悉投资领域，他们依然清楚自己的价值观所在。

Even again, let's say if somebody wasn't in the investing world, again, they know their values.

他们清楚自己在意什么，这正是我来帮忙揭示的。

They know what they care about, and that's what I'm here to help uncover.

我们都是如此。

We all are.

是的，完全同意。

Yeah, absolutely.

那么我们来谈谈人口结构趋势，以及总体上的大趋势。

So let's talk about demographic trends and just trends and megatrends in general.

我们的寿命在延长，对吧？

We're living longer, right?

在某些情况下，这意味着我们可能不得不工作更长时间，才能负担得起所需的东西。

In some cases, that means we might have to work longer to be able to afford the things we need.

我们还看到，随着时间的推移，资产不断增值积累了更多财富，但同时也出现了新的资产类别和更复杂的金融格局，不过规划工具和方法也在不断优化。

We're also seeing more and more wealth accumulated through all this assets that have compounded over time, but we're also seeing the introduction of new asset classes and a more complicated financial landscape, but better tools and better planning.

在你看来，在当前财富大转移的背景下，结合我刚才提到的所有因素，未来十年财务规划领域最重要的趋势是什么？

What do you see as the most important megatrends in financial planning right now that are gonna be taking place over the next decade within the umbrella under the context of the great wealth transfer, but also all the other things I mentioned?

我认为让一切变得更易获取和理解是关键，这可以通过全面数字化来实现，我们始终努力以客户习惯的方式提供服务。

I think the making everything more accessible and easier to understand, that could be through digitizing everything, so to speak, and meeting at least we always try to meet our clients where where they are.

对吧？

Right?

有些人喜欢深入研究并亲力亲为，他们希望获得全套工具来实现自主管理。

So some people really wanna dive deep and do it all by themself, and they want all the tools to be able to do it.

我们要确保能提供这样的支持。

We wanna make sure that we provide that to them.

同时也要确保他们能随时获得专业帮助——而且是以零成本、无资产门槛的方式，这是我们服务的基石。

But then also making sure that having access to somebody that can help, And, again, in a way that doesn't cost you anything and in a way that doesn't have an asset minimum tied to it is really foundational to what we do.

有时候客户会两者兼顾。

And sometimes there's a little bit of both.

从代际差异来看，婴儿潮一代仍偏好面对面交流，他们需要坐下来深入交谈。

We see, you know, from a generational standpoint, the boomers really still wanna talk face to face, and they wanna sit down and have these conversations.

年轻一代则会说：等等。

The younger generations are like, wait.

不。

No.

我能在网上搞定这个吗？

Can I just do this online?

你知道的，我能这样操作吗？

You know, can I have this?

我还注意到有人开始这样问我：'嘿，

I'm also seeing, like, questions starting to be posed to me from, hey.

我的ChatGPT是这么说的。

My chat GPT said this.

你怎么看这个？'

What do you think about this?

我觉得这很棒，说明他们在参与对话前试图了解更多信息，同时也在努力揭开这个领域的神秘面纱——毕竟长期以来这里充满了专业术语。

Which I think is great so that they're trying to be more informed as they're coming into a conversation, but it's also trying to demystify this whole space because for so long, it is such full of jargon.

而且在这个行业里，我们总爱用相同的词汇描述不同事物，或用不同词汇描述相同事物，这真的让人很困惑。

And in this industry, we love to use the same words to describe different things or different words to describe the same thing, which is really confusing.

因此，努力使其简单易懂且易于获取，也是我每天与客户合作的基础，是我们所有人工作的基础，更是富达公司整体运营的核心理念。

So trying to make it easy and accessible is also, you know, foundational to what I do with my clients every day, what all of us do, what we do at Fidelity in general.

这类趋势的核心问题就是：我们如何让这一切变得更亲民？

So those kind of trends were like, how do we make this more accessible?

我们如何让人们更容易接触这些服务，而不仅仅是将其视为富人专属？

How do we make it easier for people to get at and not just the perception of being reserved for the wealthy?

是的。

Yeah.

完全同意。

Absolutely.

要是能有个网站专门解析这些复杂的金融术语就好了...算了不提这个。

And if only there was a website that broke down some of these complicated financial term never mind.

让我们继续深入探讨吧。

Let's go out on this.

再次强调，很多人一听到'我有理财师、有顾问、有专人服务'，就以为是股票推荐，但实际上其内涵远不止于此。

Again, a lot of people think when they hear about it, I have a financial planner, I have an advisor, I'm working with somebody, that it is stock picking, and it is really so much more than that.

现在你可以购买指数基金，但随着人生阶段的变化我们也需要不断调整策略。

Now, you can sort of buy index funds, but there's also this tweaking that we have to do as we go through different life stages in our life.

这些都是整体规划中至关重要的部分。

And that's all part of the holistic part of the planning that is critical.

那么如何将这些因素结合起来，平衡投资策略与实现目标之间的关系，但首先我们需要明确实际需求。

So why how do you weave those together and balance between the investments are gonna help get you there, but the their part is what we actually need to figure out first.

是的。

Yeah.

我再次强调。

And I it again, it starts with creating a plan, which, again, most people think is an investment strategy.

正如你之前提到的，投资只是更广泛计划的一部分，确保从这一点开始推进。

And to your point before, investments are one piece of a broader plan and just making sure that it starts with that part and then moves forward.

但这并不意味着因为有了理财规划师就必须按照某种方式。

But also that there's it doesn't mean that there's one way that you have to invest just because you engage with a financial planner.

我经常说，有些客户在投资方面完全是自助型的。

I always say, I have some clients who are total do it yourselfers from an investment perspective.

他们清楚自己想要做什么以及何时行动，但会来找我寻求确认。

They know what they wanna do and when they wanna do it, but they come to me for validation.

他们会说：‘瑞恩，帮我找出策略中的漏洞。’

They're like, Ryan, punch holes in my strategy.

对吧？

Right?

我是否承担了不必要的风险？或者是否存在像你提到的金融规划话题之外，这个不断变化的领域中我还不知道的新事物？

Am I taking unnecessary risk, or are there new things that I don't know about to your point of the, you know, changing landscape in addition to the financial planning topic.

所以可能是大学规划、遗产规划、保险规划，以及如何在退休后产生收入等各类事项。

So it could be college planning, estate planning, insurance planning, how do I generate income in retirement, all that type of stuff.

这算是其中一类客户。

That's kinda one end of the spectrum.

另一类则是需要全方位财务规划帮助的客户，他们会说：‘这不适合我。’

The other end of the spectrum are clients who need all of that financial planning help, and they say, this is not for me.

我不想做这些事。

I don't wanna do this.

我需要我们花钱请人来做这件事。

I need us to pay somebody to do it.

我帮他们分析可能适合的人选及运作方式，但具体操作没有固定模式。

I help them figure out who that might be and how that might work, but there's no one way that you have to do it.

有些客户则介于两者之间，他们会说：听着，

And some clients are a little bit of both where they say, listen.

我能管理自己的个人退休账户，但我的经纪账户该怎么办？因为每次交易都被税收咬一口，我需要些帮助。

I can handle my IRA, but what the heck do I do in my brokerage account because, you know, taxes are dinging me every time and I need some help.

所以具体操作没有标准答案。

And so there's no one way you have to do it.

但当我们先制定计划，就能明确如何做决策，而不会局限在单一环节。

But when it starts with the plan first, then we can know how to make decisions, and it's not in a little silo.

这始终要围绕你试图实现的目标来展开。

It's within the context of what you're trying to accomplish.

万变不离其宗。

It always comes back to that.

是的。

Yeah.

这都是解决问题的过程。

It's all the problem solving.

而归根结底，关键在于成为未来理想中的'我'需要付出什么代价。

And, ultimately, it's about what does it cost to be the me?

或者说成为未来我们想要成为的'我们'需要付出什么。

Want I to be in the future or the we we want to be in the future.

这就是规划的意义所在，尤其对家庭而言至关重要。

That's where the plan comes into place, and especially if you have a family, so important.

富达公司再次发布了其《2025家庭与财务研究报告》。

The Fidelity out again with its 2025 family and finance study.

我们会在节目说明中附上链接。

We will link to it in the show notes.

特别感谢富达投资副总裁Ryan Victorin的分享。

Special thanks to Ryan Victorin, vice president and a financial consultant at Fidelity Investments.

非常感谢您参加我们的快线节目。

Thanks so much for coming on the express.

谢谢邀请。

Thanks for having me.

这次交流非常愉快。

It's been great.

了解更多信息请访问fidelity.com/wealth。

Learn more at fidelity.com/wealth.

投资涉及风险，包括可能的本金损失。

Investing involves risk, including risk of loss.

适用最低投资金额要求。

Investment minimums apply.

咨询服务由Strategic Advisors LLC提供，该公司为注册投资顾问。

Advisory services offered by Strategic Advisors LLC, a registered investment adviser.

经纪服务由Fidelity Brokerage Services LLC提供，该公司是纽约证券交易所和证券投资者保护公司成员。

Brokerage services provided by Fidelity Brokerage Services LLC member, NYSE and SIPC.

所表达的观点基于截至指定日期可获得的信息，并可能随市场或其他条件变化而改变。

Views expressed are as of the date indicated based on the information available at that time and may change based on market or other conditions.

本播客提供的信息具有普遍性和教育性，仅供信息参考之用，不应被解释为法律或税务建议。

Information provided in this podcast is general and educational in nature, is for informational purposes only, and should not be construed as legal or tax advice.

陈述的观点仅代表发言者个人，未必反映富达公司的立场。

The statements and opinions expressed are those of the speaker and not necessarily those of Fidelity.

富达投资无法保证任何陈述或数据的准确性和完整性。

Fidelity Investments cannot guarantee the accuracy or completeness of any statements or data.

富达不提供法律或税务建议。

Fidelity does not provide legal or tax advice.

特定州法律或适用于特定情况的法律可能影响相关信息的适用性、准确性或完整性。

Laws of a particular state or laws that may be applicable to a particular situation may have an impact on the applicability, accuracy, or completeness of such information.

联邦和州法律法规复杂且可能发生变化。

Federal and state laws and regulations are complex and are subject to change.

此类法律法规的变更可能对税前和/或税后投资结果产生重大影响。

Changes in such laws and regulations may have a material impact on pre and or after tax investment results.