And so...the "recession" begins

OldOld said:
At some point you need to time your last cycle and exit at a good high, unless you just plan to have your heir taking care of it.
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most of us have no clue what large expenses we may have later in life , especially health related .

we always want dry powder and a healthy reserve .

one thing we never ever ever want to be is a financial burden to our kids
 
mathjak107 said:
most of us have no clue what large expenses we may have later in life , especially health related .

we always want dry powder and a healthy reserve .

one thing we never ever ever want to be is a financial burden to our kids
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seems like you want to prepare the fund to sustain your last breath. Good luck...
 
JustDave said:
Maybe I'm holding on too tightly to the money I have. It's only in the last few years, for reasons I still haven't figured out, I have thousands of dollars that I don't need, way more than I thought I would ever have in my life.

So if I don't need it, why not just let it sit in the market? Because when I die, it won't matter if I have a lot of money left over... or will it? Is this a real problem? Of course I could just buy government bonds, and when I die, it won't matter if I have a lot of money or just a little money... or will it?
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My plan is to die with very little money in the bank. I would rather give it away now than hang onto every penny we saved for our old age. My estate will be the family home that will pass to my two children, or if I should survive longer than either of them, to their children.

I am prepared to spend on repairs and other maintenance of the house and rather wish now that I had accelerated that process rather than see my capital disappear because of one man's maniacal fantasy of dominating all other countries.

On the other hand, I am very rich in love from my family. When I reflect on this fact, I am able to face my future calmly, with or without money. As the song says, "Love is all you need", and for me this is a truism.
 
mathjak107 said:
most of us have no clue what large expenses we may have later in life , especially health related .

we always want dry powder and a healthy reserve .

one thing we never ever ever want to be is a financial burden to our kids
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I do hope you have a very large fund stack up for your anticipated very large expense in healthcare in your last few years of life and I hope you live a very long life.
The issue for me is not the money, it's the pain and suffering that comes naturally with a senior's ailing body that can't be solved no matter how much money you have. You can always pay someone to do things but you can't pay someone to suffer the illnesses for you. You are still the person to suffer in your old and failing body no matter what.
 
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mathjak107 said:
many of us are actually investing that long term money we may never need not for us , but for heirs and its legacy money

then it’s based on their lifetimes and that money can be invested pedal to the metal in equities same as if we were that age .

personally i find 40% equities a nice balance for us , but not right now .

to much manipulation involved by one man so i am holding in the 20% equity range
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I moved to 40% equities, which is the lowest in my history of investments, because I don't want to pay taxes when selling those investments. For me at 67, 40% seems to be the right balance. I can afford to earn 4%+ at the present time and still be comfortable. If I miss out on big wins, so be it. I just think the markets are going to be erratic during the next 4 years and I think we've only seen the tip of the iceberg. Good for you for reducing to 20%!
 
Warrigal said:
My plan is to die with very little money in the bank. I would rather give it away now than hang onto every penny we saved for our old age. My estate will be the family home that will pass to my two children, or if I should survive longer than either of them, to their children.

I am prepared to spend on repairs and other maintenance of the house and rather wish now that I had accelerated that process rather than see my capital disappear because of one man's maniacal fantasy of dominating all other countries.

On the other hand, I am very rich in love from my family. When I reflect on this fact, I am able to face my future calmly, with or without money. As the song says, "Love is all you need", and for me this is a truism.
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I have no kids and at this point I probably have more than enough to live a good, long life but my hubby is 8 years younger and I want him and my SIL to be well taken care of when I'm long gone.
 
Warrigal said:
My plan is to die with very little money in the bank. I would rather give it away now than hang onto every penny we saved for our old age. My estate will be the family home that will pass to my two children, or if I should survive longer than either of them, to their children.

I am prepared to spend on repairs and other maintenance of the house and rather wish now that I had accelerated that process rather than see my capital disappear because of one man's maniacal fantasy of dominating all other countries.

On the other hand, I am very rich in love from my family. When I reflect on this fact, I am able to face my future calmly, with or without money. As the song says, "Love is all you need", and for me this is a truism.
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One day you may have to sell your house to pay for a nursing home living.
 
smiley said:
wot in australia??
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You have two years after entering an age care facility until the family home is treated as an asset for the calculation of the fees that you can be charged. If family members have been living in the home for 5 years or more it does not count as an asset at all. People with no assets can only be charged the basic aged pension less an amount they may need for spending on toiletries, hairdressing and other personal items. If memory serves, they pay 95% (edit -85%) of their pension for their care.

At least, that is how I understand it, but a change of government could change the rules to save money.

I'm not going to bother researching today.
 
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I always thought that "good and effective health care for all" meant just that ; I seem to remember in UK paying in a monthly amount as a sorta health insurance fee that would ensure my good care in later years. I have worked in several health care settings and am of the view that good quality national health care is an illustration of the care that govt and each of us feels towards each other in a caring society not a neglecting one?
 
China's AI-generated memes showing grossly obese Californians assembling IPhones are hilarious. They must really feel on the run to stoop to that.

Meanwhile, the "Black Monday" psyop has collapsed and the "Recession" psyop that came after is already fizzling.
 
MACKTEXAS said:
I'll be interested to see what comes of insider trading allegations, if anything.
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Probably nothing, as everyone's focus and attention would have moved on to the next mini crisis by the time any sketchy evidence is put together.

A possible policy of keeping the population bouncing from one mini crisis to another so that no one can get a grasp of what is going on, where even an administration might not even know what is going on or what they themselves are doing? Winging it?

Or perhaps it's just about keeping the public and media so flooded with ‘noise’ that scrutiny and accountability become blunted and diffused. How much of the past three months has already been lost or forgotten in the blur of daily drama, as we’re all dragged along to the next unfolding crisis? It seems that even the rest of the world can't keep up.

Is this how anyone around the world would want to be governed, flooded with 'noise'?
 
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Warrigal said:
My plan is to die with very little money in the bank. I would rather give it away now than hang onto every penny we saved for our old age.
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You know, I have given some thought to that too. But then the "What happens to me in an emergency thought," pops up. Expensive treatments for terminal cancer? I'd probably opt out. I've lived my life, a good one, and I'm ready to quit if need be. I may not even leave that up to the vagaries and vulgarities of reality. I guess what I'm saying is simply, "I'm not sure what to do."
 
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