6 High-Value Assets To Leave Your Kids If You Don’t Have a House
Written by
Nicole Spector
Edited by
Molly Sullivan
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Homeownership was once a pillar of the American Dream, but as times have changed and, frankly, gotten more expensive. Though the majority of Americans do own a home (around 66%, according to the Federal Reserve), millions are renters. There’s no shame in renting, provided it does not hurt your financial situation, but some baby boomers hoping to pass down valuable assets to their children may rue not having a home to gift their heirs.
It’s a total waste of time to feel bad about not being able to pass down a home to your kids or other heirs. Why? Because there are plenty of other high-value assets you can provide them.
“The key to building a strong financial legacy isn’t just about leaving a house; it’s about providing assets that offer long-term security and growth potential,” said Casey Cohen, COO at The Estate Registry, who shared with GOBankingRates six examples of high-value assets that can, in some cases, provide more flexibility and liquidity than real estate.
“Houses can be burdensome with maintenance and market volatility, whereas the assets listed can be tailored to the financial goals and needs of your heirs,” Cohen said.
Let’s look at six high-value assets to leave your kids if you don’t have a house, and how much they can be worth, roughly.
Investment Accounts (Stocks, Bonds, Mutual Funds)
Investment accounts make for a gorgeous gift to leave your heirs. Since they often grow in value over time, they can provide lasting wealth for your children.
“They also provide liquidity, allowing for flexibility in how and when your heirs use the funds,” Cohen said. “The value can vary widely based on the portfolio, but a well-managed account could range from a few thousand dollars to millions.”
Retirement Accounts (401(k) Plans, IRAs)
Retirement accounts such as 401(k) plans and IRAs are tax-advantaged, enabling growth that can outperform traditional savings accounts.
“They can serve as a critical component of long-term financial planning for your heirs,” Cohen said. “Depending on contributions and market performance, these accounts can hold substantial value, often reaching into six or seven figures.”
Life Insurance Policies
Life insurance policies, which may provide your family with a lump sum of money upon your passing, are also ideal high-value assets.
“Life insurance payouts can vary, but typical policies might range from $100,000 to several million dollars,” Cohen said.
Precious Metals
Precious metals are valuable assets because they hedge against inflation and typically appreciate in value over time.
“The value can vary based on market prices, but gold and silver are consistently valuable,” Cohen said. “For example, an ounce of gold is currently valued at around $1,800.”
Valuable Collectibles (Art, Antiques or Rare Coins)
Do you have a high-end art collection, antiques or rare coins, perhaps? Rare collectibles can appreciate significantly over the years, making them ideal assets to pass down.
“Depending on the item, values can range from a few hundred dollars to millions,” Cohen said, adding that they also hold personal value — a lovely touch.
Digital Assets (Cryptocurrency, Domain Names)
We live in an increasingly digital age where assets such as cryptocurrency and even domain names can be valuable and appreciate in growth. The only issue, particularly with crypto, is that it’s famously volatile.
“The value of these assets can be highly volatile, with cryptocurrencies like Bitcoin ranging from a few thousand to tens of thousands of dollars per com,” Cohen said.
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