In our 70s, we should be very financially secure. Therefore, we can start paying it forward to the next generation.

In our 70s, like all the other decades of our lives, we should focus intently on income. We have spent our entire lives living on a paycheck, but now we can create our own cash flow from the stock market.

Luckily, we can also create passive income for our kids and grandkids via income investing. We can open custodial accounts that give the gift of compounding at a young age.

We want to be generous in our 70s while funding our own long-term care plans. A lot is going on, but income will solve our issues—that's the magic of income. Good Luck!