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 coldair
6.8 inside
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Posted: 8/10/2012 10:13:50 PM
are we talking ammo only?
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fmkenner
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Posted: 8/10/2012 10:14:05 PM
I have more than $10,000 in guns.
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Posted: 8/10/2012 10:15:51 PM
Unfortuneately I believe the article 100%. I've had so many guys work for over the years that couldn't even stay on top of a few hundred dollars worth of tools they use everyday, much less a steady residence, car, or money for lunch.
I'm guessing the article is considering furniture, clothing, and other everyday things as assets TargetTarget? I'll read it in a minute. I need to go drop some assets off at the pool real quick. |
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ar154all
Bikini State
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Posted: 8/10/2012 10:19:55 PM
Originally Posted By targettarget: Originally Posted By MiloBloom: Originally Posted By targettarget: Originally Posted By Bartholomew_Roberts: Maybe they got confused about greater than (>) and less than (<) signs and they ended up poor and destitute? (>) less than $10,000 (<) more than $10,000 The great Canadian education experiment at work right there. LULZ. $10,000 is a lot less than what you're supposed to have. 10,001+ > 10,000. Oh, Great and Wise Troll, who much 'should we have'? |
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Bubbles
Luv C3!
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Posted: 8/10/2012 10:25:27 PM
Estate planning, how does it work?
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Dan_Gray
blue kung fu panda
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Posted: 8/10/2012 10:26:44 PM
Originally Posted By targettarget:
Originally Posted By MiloBloom:
Originally Posted By targettarget:
Originally Posted By Bartholomew_Roberts:
Maybe they got confused about greater than (>) and less than (<) signs and they ended up poor and destitute? (>) less than $10,000 (<) more than $10,000 The great Canadian education experiment at work right there. LULZ. $10,000 is a lot less than what you're supposed to have. 10,001+ > 10,000. It's 10k more than you're supposed to have. You probably listen to Dave Ramsey's line of bullshit. You really don't have a fucking clue. |
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Posted: 8/10/2012 10:29:58 PM
How in the fuck is it possible to work your entire life (assumption) and not have at least $10,000 to your name when you die?
Cocaine is a helluva drug. |
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Posted: 8/10/2012 10:33:13 PM
isnt the welfare class somewhere around 46% of the population
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targettarget
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Posted: 8/10/2012 10:35:27 PM
Originally Posted By ar154all: Originally Posted By targettarget: Originally Posted By MiloBloom: Originally Posted By targettarget: Originally Posted By Bartholomew_Roberts: Maybe they got confused about greater than (>) and less than (<) signs and they ended up poor and destitute? (>) less than $10,000 (<) more than $10,000 The great Canadian education experiment at work right there. LULZ. $10,000 is a lot less than what you're supposed to have. 10,001+ > 10,000. Oh, Great and Wise Troll, who much 'should we have'? This whole "well, they obviously did it right" whimsical theme coming out of this thread is hilarious. Do you know when you're going to die? Can you accurately guesstimate when the most appropriate time to "give away" most of your assets would be, down to the hour? You're 85, in good health and have $10,000 to your name. Do you give it away tomorrow? No? How about next week? Maybe the week after? What if you give it away and live to your 90? Those last 5 years are going to be pretty miserable. The point I'm trying to make here is that these people aren't dying because they've had some excellent financial planning advice given to them and they've taken it; they're dying with that kind of money because that's all they have left. |
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Dan_Gray
blue kung fu panda
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Posted: 8/10/2012 10:49:57 PM
Originally Posted By targettarget:
Originally Posted By ar154all:
Originally Posted By targettarget:
Originally Posted By MiloBloom:
Originally Posted By targettarget:
Originally Posted By Bartholomew_Roberts:
Maybe they got confused about greater than (>) and less than (<) signs and they ended up poor and destitute? (>) less than $10,000 (<) more than $10,000 The great Canadian education experiment at work right there. LULZ. $10,000 is a lot less than what you're supposed to have. 10,001+ > 10,000. Oh, Great and Wise Troll, who much 'should we have'? This whole "well, they obviously did it right" whimsical theme coming out of this thread is hilarious. Do you know when you're going to die? Can you accurately guesstimate when the most appropriate time to "give away" most of your assets would be, down to the hour? You're 85, in good health and have $10,000 to your name. Do you give it away tomorrow? No? How about next week? Maybe the week after? What if you give it away and live to your 90? Those last 5 years are going to be pretty miserable. The point I'm trying to make here is that these people aren't dying because they've had some excellent financial planning advice given to them and they've taken it; they're dying with that kind of money because that's all they have left. Your ignorance is astounding. If the world was simple, you MIGHT be right. But it's not, and you're not. |
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mattimeo
The Really Great Satan.
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Posted: 8/11/2012 12:55:04 AM
Originally Posted By Dan_Gray: Originally Posted By targettarget: Originally Posted By ar154all: Originally Posted By targettarget: Originally Posted By MiloBloom: Originally Posted By targettarget: Originally Posted By Bartholomew_Roberts: Maybe they got confused about greater than (>) and less than (<) signs and they ended up poor and destitute? (>) less than $10,000 (<) more than $10,000 The great Canadian education experiment at work right there. LULZ. $10,000 is a lot less than what you're supposed to have. 10,001+ > 10,000. Oh, Great and Wise Troll, who much 'should we have'? This whole "well, they obviously did it right" whimsical theme coming out of this thread is hilarious. Do you know when you're going to die? Can you accurately guesstimate when the most appropriate time to "give away" most of your assets would be, down to the hour? You're 85, in good health and have $10,000 to your name. Do you give it away tomorrow? No? How about next week? Maybe the week after? What if you give it away and live to your 90? Those last 5 years are going to be pretty miserable. The point I'm trying to make here is that these people aren't dying because they've had some excellent financial planning advice given to them and they've taken it; they're dying with that kind of money because that's all they have left. Your ignorance is astounding. If the world was simple, you MIGHT be right. But it's not, and you're not. It's funny, he just keeps slathering more ignorance over his arguments like spackle, and thinks it makes it all better. |
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Posted: 8/11/2012 1:06:02 AM
Long term care insurance would help many people IMHO.
Of course a lot of people don't have shit anyway. |
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ar154all
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Posted: 8/11/2012 1:11:45 AM
Look, understand, and shut the fuck up and I will explain it to you in such a way a child can understand.
As you begin to live your 'fall' and 'winter' years, there are steps that should be taken to protect yous assets. There are a variety of reasons that one would consider doing these things; but the primary reason is the very high cost of health care at the end of life. Some other reasons are: actually seeing your assets go to the people you wish them too, avoiding family squabble over your stuff after your gone, teaching your children about your passions/hobbies/interests.
But, in this cast were going to talk about money.
1) Investments can be made on others behalf. For example; when my children are old enough to have investment accounts, I will fund them as slowly as it takes to get them to where I think that they should be at to fund my retirement. The accounts themselves will be in trust, and the kids will not be able to touch the money in any way until I and my Wife have died. The principal and dividends of those accounts will revert back to them at the time of our (me and wife) deaths; at which time they can have the option of doing the same with their children. The 'money' was never in my name, and I would have no retirement accounts of my own, save the Roth, which will DEFINITELY be spent for fun stuff on me and the Wife. Get it? I get paid every month 5 times with 'my money' that is not in my name. Nothing to tax, nothing to transfer; building credit for the kids.
2) My House: Houses are 'real property'. In this State, I cant lose it in a judgement. So, as long as I pay the taxes every year, no one can take it away. However, once its paid for, I can transfer it to one of my kids for a few years, build their credit, and pass it on to another and so on... The point is, their credit can go up, buy homes of their own, and when I feel that its getting close for me to meet my Lord, the home will be in the name of the one of the kids. The home is a financial asset, and they can rent it out as far as I care, but it wont be sold until all their homes are bought and paid for. If so desired (and it is my wish) that they split the maintenance and taxes on the property so as the home could be used as a family vacation home to be shared by my kids and their families after I am gone. Either way; the fees associated with the transfer of the home may seem exorbitant, but its a hell of a lot cheaper than paying high interest rates for the first 20 years of your early credit life and blowing money on rent. Again, all set by a trust regulating the purpose and limitations of the transfers; and the limited abilities and responsibilities of the 'particular owner' at the time.
3) (As added to an earlier edited response) At the BBQ at my home after they BBQ my ass, a foot locker will be given to each of my kids. They will most likely have to break off the locks, but the things that I want each of them to have after I die will be in their respective boxes. No bickering infront of a lawyer, no drama. Take it or sell it, it's their choice (but I swear I'll haunt their ass if they sell any of it). Gold? Silver? Jewels? Car title transfers? Stamp Collections? Hand guns? Who the fuck knows... Damn sure not the Govt.
Generational wealth.
Trusts are the way that 'regular' people can write law. It is a way that I can reach out from the grave. It is a way to maximize someones assets and minimize my own liabilities. I was taxed when I made the money, why in the hell would I let them tax it again?
I honestly hope that you are getting the point. It is so fucking clear that you either know this already and chose to overlook it in an effort to be a dick, or you are just a retarded troll (what's the difference?).
Maybe you should think before you run your mouth again.
Seriously. Just shut up. Dont post in this thread again.
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Posted: 8/11/2012 1:23:17 AM
Originally Posted By jeep44:
Of course, this story makes no mention of how many people finagle their money (or their parents) so that they appear to be broke, and don't end up paying their own way at a nursing home. That is just good planing! |
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targettarget
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Posted: 8/11/2012 1:28:23 AM
Originally Posted By ar154all: Look, understand, and shut the fuck up and I will explain it to you in such a way a child can understand. As you begin to live your 'fall' and 'winter' years, there are steps that should be taken to protect yous assets. There are a variety of reasons that one would consider doing these things; but the primary reason is the very high cost of health care at the end of life. Some other reasons are: actually seeing your assets go to the people you wish them too, avoiding family squabble over your stuff after your gone, teaching your children about your passions/hobbies/interests.
But, in this cast were going to talk about money.
1) Investments can be made on others behalf. For example; when my children are old enough to have investment accounts, I will fund them as slowly as it takes to get them to where I think that they should be at to fund my retirement. The accounts themselves will be in trust, and the kids will not be able to touch the money in any way until I and my Wife have died. The principal and dividends of those accounts will revert back to them at the time of our (me and wife) deaths; at which time they can have the option of doing the same with their children. The 'money' was never in my name, and I would have no retirement accounts of my own, save the Roth, which will DEFINITELY be spent for fun stuff on me and the Wife. Get it? I get paid every month 5 times with 'my money' that is not in my name. Nothing to tax, nothing to transfer; building credit for the kids.
2) My House: Houses are 'real property'. In this State, I cant lose it in a judgement. So, as long as I pay the taxes every year, no one can take it away. However, once its paid for, I can transfer it to one of my kids for a few years, build their credit, and pass it on to another and so on... The point is, their credit can go up, buy homes of their own, and when I feel that its getting close for me to meet my Lord, the home will be in the name of the one of the kids. The home is a financial asset, and they can rent it out as far as I care, but it wont be sold until all their homes are bought and paid for. If so desired (and it is my wish) that they split the maintenance and taxes on the property so as the home could be used as a family vacation home to be shared by my kids and their families after I am gone. Either way; the fees associated with the transfer of the home may seem exorbitant, but its a hell of a lot cheaper than paying high interest rates for the first 20 years of your early credit life and blowing money on rent. Again, all set by a trust regulating the purpose and limitations of the transfers; and the limited abilities and responsibilities of the 'particular owner' at the time.
3) (As added to an earlier edited response) At the BBQ at my home after they BBQ my ass, a foot locker will be given to each of my kids. They will most likely have to break off the locks, but the things that I want each of them to have after I die will be in their respective boxes. No bickering infront of a lawyer, no drama. Take it or sell it, it's their choice (but I swear I'll haunt their ass if they sell any of it). Gold? Silver? Jewels? Car title transfers? Stamp Collections? Hand guns? Who the fuck knows... Damn sure not the Govt.
Generational wealth.
Trusts are the way that 'regular' people can write law. It is a way that I can reach out from the grave. It is a way to maximize someones assets and minimize my own liabilities. I was taxed when I made the money, why in the hell would I let them tax it again?
I honestly hope that you are getting the point. It is so fucking clear that you either know this already and chose to overlook it in an effort to be a dick, or you are just a retarded troll (what's the difference?).
Maybe you should think before you run your mouth again.
Seriously. Just shut up. Dont post in this thread again. I'm supposed to be taking advice from a guy that thinks "investment accounts" and transfering houses back and forth will build credit?  Oh shit, this is getting good.Have you ever bothered to seek out what the real definition of "credit" is? It's not "having savings" or owning a house; it IS a number given to you by financial institutions based on how well you can borrow and pay back money over time. Savings accounts and transferring houses have ZERO effect on your credit rating. |
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ar154all
Bikini State
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Posted: 8/11/2012 1:32:39 AM
Originally Posted By targettarget: Savings accounts and transferring houses have ZERO effect on your credit rating. Wrong again. God Damn; you just dont know when to shut up, do you? |
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Banjaxed
Your dyke sister keeps eating all the tuna.
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Posted: 8/11/2012 1:37:48 AM
As long as I can live my final years in comfort I don't care how little I leave behind. My grandmother was a notoriously frugal woman. Never spent a dime she did not absolutely have to. When she died she had around $1.2 million in liquid cash and bonds and a home and car worth about $60k after being sold off. They never took a single vacation or really did anything to enjoy it. I'm thankfully for the share I got but I'd rather they have spent some of it enjoying their golden years instead. What was the point of accumulating all that wealth just to leave it all behind?
You only live once.....enjoy it. |
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Banjaxed
Your dyke sister keeps eating all the tuna.
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Posted: 8/11/2012 1:39:28 AM
Originally Posted By Overlord66:
Assisted Living facilities will suck every last dollar out of you in the end. Inheritance in America is dead.  Parents used to live with their children in their elderly years. While I have no issue with taking care of my folks in their final days I'm sure they would prefer their independence. |
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Banjaxed
Your dyke sister keeps eating all the tuna.
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Posted: 8/11/2012 1:49:56 AM
Originally Posted By targettarget:
Originally Posted By ar154all:
Originally Posted By hotbiggun42:
What is the point of your thread OP? Does he ever have a point? You people are nuts for trying to explain this away. In your last year of life, you would still need to pay any associated taxes related to income. You would still have to pay your executor for fulfilling your will. You would still have to pay a realtor for selling your house. You still have to pay for your funeral, etc... $10,000 wouldn't come close to covering all of this; ergo, if you are dead and have less than $10,000 to your name total, you're fucking over your children, other family and / or the executor of your will. How? They are not entitled to my my money upon my death and the debt is not transferable to them. The executor takes his off the top and the fees are usually low. |
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Posted: 8/11/2012 1:52:35 AM
If I am lucky my inheritance will be a business I help manage, some land that has been in the family for 120 years, and a few guns.
I hope dad enjoys the rest. |
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Banjaxed
Your dyke sister keeps eating all the tuna.
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Posted: 8/11/2012 1:54:18 AM
Originally Posted By RVwannaB:
These people are doing it wrong. The goal is to die with just enough money to cover the funeral. Funeral costs are ridiculous. Just dig a hole in the woods somewhere and toss me in naked. Tens of thousands for a plot, coffin, headstone, services, etc is stupid. Either way that's what life insurance is for. |
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JoeCoastie
You have chosen poorly
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Posted: 8/11/2012 1:55:27 AM
Originally Posted By targettarget: because people are materialistic and own a whole bunch of crap they don't need and go into debt doing so. What does it mean if almost half of Americans die with less than $10,000 in assets |
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Posted: 8/11/2012 1:56:16 AM
The answer is simple. Once you require end of life services (nursing homes, etc.), you transfer your wealth to your children and then allow the taxpayer to pay for those services through Medicare.
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ar154all
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Posted: 8/11/2012 1:59:02 AM
Originally Posted By targettarget: I'm supposed to be taking advice from a guy that thinks "investment accounts" and transfering houses back and forth will build credit? Oh shit, this is getting good.Have you ever bothered to seek out what the real definition of "credit" is? It's not "having savings" or owning a house; it IS a number given to you by financial institutions based on how well you can borrow and pay back money over time. Savings accounts and transferring houses have ZERO effect on your credit rating. Five factors that lead to your FICO score 1. Payment History: 35%, 2. Capacity (Amount You Owe): 30%, 3. Length Of Credit History: 15%, 4. Types Of Credit: 10%, and 5. New Credit: 10%. Protip: As soon as your kid can get a bill for something (cell phone, internet bill, car insurance), they get a checking account, one of them cheap ass Orchid MC, and automatic bill pay. Their paycheck gets direct deposited, and the bills go to the credit card. Once a month the checking account pays the CC. Instant payment history. The amount you owe is a percentage of all your financial assets. It does not matter if you handle the money or not, but the movement is to benefit me, while the numbers benefit them. Credit history can be established in highschool, and with the correct guidance and or leverage, step one dies not have to be so pricey. Types of credit: thats going to vary too much to go into that here. New credit: get it young and move it up. On time, every time, with the lowest debt to income ratio as possible. This being said; there is a mathematical formula used to calculate the score. Based upon your intellectual capacity to understand basic factors of life, I doubt you will understand anything I have said. So go cry into a milk bag screaming to whatever god you pray to for mercy upon your trolling ass.
Nobody likes you.
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EFB16ACRX
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Posted: 8/11/2012 2:03:02 AM
Originally Posted By Bubbles:
Estate planning, how does it work? THANK YOU. Anyone with half a brain will make sure the government THINKS they died penniless. |
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EFB16ACRX
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Posted: 8/11/2012 2:03:39 AM
54% of people are too stupid to hide assets is what this comes down to.
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elcope
U.S. Army Warrant Officer, 915E
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Posted: 8/11/2012 2:15:57 AM
Originally Posted By EFB16ACRX:
Originally Posted By Bubbles:
Estate planning, how does it work? THANK YOU. Anyone with half a brain will make sure the government THINKS they died penniless. Hmm, the milkbagging schmoe may be troll-like but these posts got me thinking on a tangent. Trusts and the lot I knew about to pass assets to family, but can I pass it to whomever? My best friend, my Mistress, anyone? |
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targettarget
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Posted: 8/11/2012 2:18:29 AM
Originally Posted By elcope: Originally Posted By EFB16ACRX: Originally Posted By Bubbles: Estate planning, how does it work? THANK YOU. Anyone with half a brain will make sure the government THINKS they died penniless. Hmm, the milkbagging schmoe may be troll-like but these posts got me thinking on a tangent. Trusts and the lot I knew about to pass assets to family, but can I pass it to whomever? My best friend, my Mistress, anyone? Hey, JERK. I thought we were hommies?  |
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elcope
U.S. Army Warrant Officer, 915E
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Posted: 8/11/2012 2:29:37 AM
[Last Edit: 8/11/2012 2:31:59 AM by elcope]
Originally Posted By targettarget:
Originally Posted By elcope:
Originally Posted By EFB16ACRX:
Originally Posted By Bubbles:
Estate planning, how does it work? THANK YOU. Anyone with half a brain will make sure the government THINKS they died penniless. Hmm, the milkbagging schmoe may be troll-like but these posts got me thinking on a tangent. Trusts and the lot I knew about to pass assets to family, but can I pass it to whomever? My best friend, my Mistress, anyone? Hey, JERK.
I thought we were hommies?
I don't have as near a problem with you as the rest of ARFCOM. I'm not sure why they let you get under their skin. I can understand part of their frustrations in boiling 1911's and dragging SKS's through the Tapco catalog. But I'm like, hey, to each their own. 
ETA: Which is why I didn't call you a troll, but troll like as your threads elicit much emotional participation and in this case a lot of good thought provoking info |
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FishKepr
20% COOLER
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Posted: 8/11/2012 2:29:37 AM
[Last Edit: 8/11/2012 2:33:07 AM by FishKepr]
Originally Posted By gatetraveller:
Originally Posted By Overlord66:
Assisted Living facilities will suck every last dollar out of you in the end. Inheritance in America is dead. You hit the nail on the head! My grandmother is in an assisted living facility. I believe it costs about 6k per month. Yep. I'm only in my early 40s but bought a hefty LTC insurance policy through my employer to protect my family. |
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Banjaxed
Your dyke sister keeps eating all the tuna.
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Posted: 8/11/2012 2:31:06 AM
Originally Posted By elcope:
Originally Posted By targettarget:
Originally Posted By elcope:
Originally Posted By EFB16ACRX:
Originally Posted By Bubbles:
Estate planning, how does it work? THANK YOU. Anyone with half a brain will make sure the government THINKS they died penniless. Hmm, the milkbagging schmoe may be troll-like but these posts got me thinking on a tangent. Trusts and the lot I knew about to pass assets to family, but can I pass it to whomever? My best friend, my Mistress, anyone? Hey, JERK.
I thought we were hommies?
I don't have as near a problem with you as the rest of ARFCOM. I'm not sure why they let you get under their skin. I can understand part of their frustrations in boiling 1911's and dragging SKS's through the Tapco catalog. But I'm like, hey, to each their own.
He's like the court jester. Great entertainment as long as you don't take him serious. A TT thread is always worth a few laughs. |
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EFB16ACRX
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Posted: 8/11/2012 2:32:06 AM
Originally Posted By elcope:
Originally Posted By EFB16ACRX:
Originally Posted By Bubbles:
Estate planning, how does it work? THANK YOU. Anyone with half a brain will make sure the government THINKS they died penniless. Hmm, the milkbagging schmoe may be troll-like but these posts got me thinking on a tangent. Trusts and the lot I knew about to pass assets to family, but can I pass it to whomever? My best friend, my Mistress, anyone? Depends what you have and how you set it up. |
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ar154all
Bikini State
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Posted: 8/11/2012 2:33:49 AM
Originally Posted By elcope: Originally Posted By EFB16ACRX: Originally Posted By Bubbles: Estate planning, how does it work? THANK YOU. Anyone with half a brain will make sure the government THINKS they died penniless. Hmm, the milkbagging schmoe may be troll-like but these posts got me thinking on a tangent. Trusts and the lot I knew about to pass assets to family, but can I pass it to whomever? My best friend, my Mistress, anyone? Family: yes. The others; I dont see why not. The trust is 'the law', but the 'taxes' may be different... |
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DanTSX
Blueblooded Yankee Carpetbagger :I
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Posted: 8/11/2012 2:35:09 AM
The tax system is set up to incentivize "eliminating" or transferring assets, dumbass.
I know some senior citizens that look destitute on paper, but live far more comfortably than TT ever will. |
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ar154all
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Posted: 8/11/2012 2:39:43 AM
Dan, I am so glad you changed your avatar. Damn that old one was annoying...
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targettarget
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Posted: 8/11/2012 2:46:15 AM
Originally Posted By elcope: Originally Posted By targettarget: Originally Posted By elcope: Originally Posted By EFB16ACRX: Originally Posted By Bubbles: Estate planning, how does it work? THANK YOU. Anyone with half a brain will make sure the government THINKS they died penniless. Hmm, the milkbagging schmoe may be troll-like but these posts got me thinking on a tangent. Trusts and the lot I knew about to pass assets to family, but can I pass it to whomever? My best friend, my Mistress, anyone? Hey, JERK. I thought we were hommies? I don't have as near a problem with you as the rest of ARFCOM. I'm not sure why they let you get under their skin. I can understand part of their frustrations in boiling 1911's and dragging SKS's through the Tapco catalog. But I'm like, hey, to each their own. ETA: Which is why I didn't call you a troll, but troll like as your threads elicit much emotional participation and in this case a lot of good thought provoking info Just wait until I drag my new 1911 through the Tapco catalog. Heads are going to assplode.  |
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