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inherit the wind?!....your money and retirement....
Posted by: NewtonMP2100
Date: September 13, 2018 11:13AM
Poll
spend it all or save as inheritance?
Only registered users are allowed to vote for this poll.
34 votes were received.
spending all on myself/ourselves 15
 
44%
living on budget and saving the bulk to give as inheritance 11
 
32%
use what we need and giving anything after death to charity 4
 
12%
never really thought about it 4
 
12%



....for those in 'retirement'....are you planning to use up all your money (and your spouses) on yourselves or saving the bulk to give as an inheritance to your children/relatives.....???



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I reject your reality and substitute my own!
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Re: inherit the wind?!....your money and retirement....
Posted by: Acer
Date: September 13, 2018 11:26AM
We don't plan to deliberately spend it all, but we're not deliberately planning to maximize either inheritance or charity.
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Re: inherit the wind?!....your money and retirement....
Posted by: Ammo
Date: September 13, 2018 11:36AM
Blend of 2 & 3.



Inside every old person is a young person saying "what happened?"

“Love is the motive, but justice is the instrument.” - Reinhold Niebuhr

“The further a society drifts from the truth, the more it will hate those who speak it.” George Orwell
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Re: inherit the wind?!....your money and retirement....
Posted by: LyleH
Date: September 13, 2018 11:39AM
We don't know how long we will live OR if there won't be some financial disaster in the future.
So we have to be somewhat cautious with our money. But Wills (planning) are what will dictate the distribution of any remaining money/assets when we pass on. LyleH



Edited 1 time(s). Last edit at 09/13/2018 11:40AM by LyleH.
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Re: inherit the wind?!....your money and retirement....
Posted by: Ombligo
Date: September 13, 2018 11:46AM
While I would like to say I'm going to spend it all, I know that is unlikely.

I have spent 60 years living on a budget to have a safe retirement. People generally don't change longterm habits, so I expect I will still be a cheap old codger after I retire. Additionally I'm paranoid about outliving my savings, so I'll keep withdrawals to just what is needed. Barring a major illness, I will likely have more in my account at death than I will when I start drawing from it.

My retirement is likely going to be a major part of my son's retirement.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

"WE CALL BS!" -- Emma Gonzalez
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Re: inherit the wind?!....your money and retirement....
Posted by: ztirffritz
Date: September 13, 2018 12:22PM
I don't expect to have much if anything from Social Security so I'm planning to do it all myself.



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Re: inherit the wind?!....your money and retirement....
Posted by: MikeF
Date: September 13, 2018 02:17PM
I always like to tell my kids that I'm living on their inheritance.
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Re: inherit the wind?!....your money and retirement....
Posted by: mattkime
Date: September 13, 2018 02:22PM
Still in the accumulation phase. Maybe thats 'spend it all on ourselves' since we don't have enough for retirement yet.



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Re: inherit the wind?!....your money and retirement....
Posted by: archipirata
Date: September 13, 2018 02:55PM
What is this "retirement" of which you speak?



Athens, OH
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Re: inherit the wind?!....your money and retirement....
Posted by: jdc
Date: September 13, 2018 03:27PM
Yeah. What money? What retirement? smiley-laughing001



----


Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: inherit the wind?!....your money and retirement....
Posted by: samintx
Date: September 13, 2018 04:00PM
I set a goal amt to leave my kids, add to the medical scholarship fund I founded at Tulane in my fathers name, buy what I want while Alive, support charities in my lifetime and of course support Apple in my lifetime winking smiley

And be thankful I don’t have to rely on my kids to live. My X said I’d never make it in the real world. He never learned to use a computer but I did.

Retire . From what...being a mom? You never retire from that!
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Re: inherit the wind?!....your money and retirement....
Posted by: ka jowct
Date: September 13, 2018 05:18PM
Quote
archipirata
What is this "retirement" of which you speak?

I understand the concept. I haven’t yet managed to move from theory to practice, however.
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Re: inherit the wind?!....your money and retirement....
Posted by: Rick-o
Date: September 13, 2018 05:40PM
I'm guessing I'll spend it myself, seeing how I have no living children or any relatives that are worthy of my inheritance, (divorced wife included).

> ...so I expect I will still be a cheap old codger after I retire.

I'm like Ombligo, I have been living within my means for so long, I really can't imagine spending what I have accumulated over the years.

Of course, I'm only semi-retired. It's been 12 years since retiring from my day job, but the small biz is humming along, which still keeps me a bit busy.



"After a time, you may find, that having is not so pleasing a thing after all, as wanting. It is not logical, but it is often true."

- Mr. Spock



“There is no greater calling than to serve your fellow men. There is no greater contribution than to help the weak. There is no greater satisfaction than to have done it well.”

- Walter Reuther
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Re: inherit the wind?!....your money and retirement....
Posted by: vicrock
Date: September 13, 2018 07:44PM
We have no children and all our relatives better off financially than we are - so spend what we need and give the rest to charity
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Re: inherit the wind?!....your money and retirement....
Posted by: Speedy
Date: September 13, 2018 07:56PM
I'm an orphan and available for adoption. Just saying.

Quote
Rick-o
I'm guessing I'll spend it myself, seeing how I have no living children or any relatives that are worthy of my inheritance, (divorced wife included).

> ...so I expect I will still be a cheap old codger after I retire.

I'm like Ombligo, I have been living within my means for so long, I really can't imagine spending what I have accumulated over the years.

Of course, I'm only semi-retired. It's been 12 years since retiring from my day job, but the small biz is humming along, which still keeps me a bit busy.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: inherit the wind?!....your money and retirement....
Posted by: davester
Date: September 13, 2018 08:59PM
Not enough choices in that poll. I'm sure we'll live on a budget since we're healthy and may therefore end up living a long time and needing income for that long period. However, we also want to be able to leave a decent inheritance to our children, especially since one is disabled and will likely be unable to earn a decent living in the SF Bay Area. Leaving a fair amount to them will be fairly easy though since the house is worth a ridiculous amount of money given the run up in California real estate prices over the past couple of decades.



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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Re: inherit the wind?!....your money and retirement....
Posted by: Markintosh
Date: September 13, 2018 09:25PM
We are fortunate to have made some solid choices...as teachers, both of us have reasonable pensions. We have always focused on paid off housing before retirement and we are there. We also have no car payments and one kid with no college debt. With the death of two parents recently we now have a significant cash cushion too.

We don't go wild but we have the freedom to live the way we want and buy a few nice things, while not wasting money on stupid things. We're also able to help our son get into adult life without spoiling him.

It's really a nice feeling to get up each morning and not have to feel strained for finances or wonder how to pay bills...and hopefully the whole health care thing will pan out before something happens that takes us to the poor house. Of course, I would just paddle off into the big ocean alone before I let medical expenses take everything we have worked for...

I do miss the kid part of teaching, at times...but not the administration or parents.



“Live your life, love your life, don’t regret…live, learn and move forward positively.” – CR Johnson
Loving life in Lake Tahoe, CA
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Re: inherit the wind?!....your money and retirement....
Posted by: Rick-o
Date: September 14, 2018 10:45AM
Hey Speedy! You're definitely on the short list in my will and V-A-S-T inheritance . However, the N.R.A. is a few slots above you. big grin smiley

Quote
Speedy
I'm an orphan and available for adoption. Just saying.

Quote
Rick-o
I'm guessing I'll spend it myself, seeing how I have no living children or any relatives that are worthy of my inheritance, (divorced wife included).

> ...so I expect I will still be a cheap old codger after I retire.

I'm like Ombligo, I have been living within my means for so long, I really can't imagine spending what I have accumulated over the years.

Of course, I'm only semi-retired. It's been 12 years since retiring from my day job, but the small biz is humming along, which still keeps me a bit busy.



"After a time, you may find, that having is not so pleasing a thing after all, as wanting. It is not logical, but it is often true."

- Mr. Spock



“There is no greater calling than to serve your fellow men. There is no greater contribution than to help the weak. There is no greater satisfaction than to have done it well.”

- Walter Reuther
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