Packerjohn
Packerjohn
- Location
- Canada
No stocks & no bonds for this guy. Hack! I spent my money travelling the world. Why die the richest man in the graveyard ?
What do you consider a substantial amount ?Given a substantial amount in the markets and suddenly you had to sell all knowing the FDIC guarantees only 250K per customer are set up to move your money if you had to?
You got it Packerjohn. Just can't figure out why this lady didn't start taking some of this money out! As it stands, unless someone on thisNo stocks & no bonds for this guy. Hack! I spent my money travelling the world. Why die the richest man in the graveyard ?
You are so right. A lot of folks want to die and leave their kids with a "legacy". Son and sig other just came and told us "want you to enjoy your money and die with 5 bucks in the bank"...lol. Love them, but that probably won't happen. The issue is when some people get money, they just want to keep adding to it. The market is especially susceptible to this kind of thinking...just keep looking at the "bankroll". Don't spend it just keep adding it back in.Hey, I got a half-brother who sold the farm over 10 years ago. He stashed over 1/4 million in the bank. Wouldn't go out for coffee because it is too expensive; wouldn't go out for a haircut because it is too expensive. Wouldn't even make you a cup of coffee when you visit. Maybe it's too expensive! LOL Can't figure this out. Too many people deny themselves the pleasure of life is that they can leave some sort of stupid legacy to family or some place else. Me thinks there is something plenty wrong with this picture!
I have one name, mine.Sorry, but we checked very carefully with our bank. Ours are insured, in different names and they are insured totally FDIC insusred per our bank's written conformation. You might want to check with your bank to see what options are available to you. Of course we also have a business that is still "alive". May shelve it, or may not.
Think that figure mentioned takes the averages in...if you live in a high cost area like NYC or California, then naturally you would need more. It also includes health costs. Of course you are right, areas and lifestyles certainly vary and I sometimes wonder how our parents did it and could afford to did without having that big nest egg!I have learned something in my life. When you are young & getting married you need a lot of "stuff": car, house, furniture, appliances, raising kids, etc. When you get to my age you need very little (actually, food, clothing & shelter & I seldom buy clothing). It's silly to gamble & dream of winning millions. At our age you can only eat & drink so much or you will get sick. You can travel if you want to because that can cost a lot of money. Those silly retirement "experts" who tell you that you need 1.5 million dollars or whatever to retire are full of hot beans. They don't know how long you might live & they don't know what lifestyle you might like. You slave like mad & then you wonder what the hack you can do with all that money in the bank. Give it all to kids! Sad situation.
Yeah, love that show "Strange Inheritances"...she ends each show with "remember, you can't take it with you"!Life sure is different for us than for our parents: more pollution, more stress, more people, more crime, more technology, more of everything. Far as the money goes, well, enjoy it (if you have any) while you are still breathing. After you stop breathing, you will not need it. Remember, you really can't take it with you. LOL