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Posted: 7/29/2021 2:34:57 PM EDT
[#1]
Also, physical gold is easily transferable....
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Posted: 7/29/2021 2:36:35 PM EDT
[#2]
Quote HistoryQuoted: Also, physical gold is easily transferable.... I sure AF hope you plan on listing that as part of your estate. If not, you are opening up a can of worms. |
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Posted: 7/29/2021 2:36:53 PM EDT
[#3]
I'll be gone. It's theirs to do with as they wish.
YMMV |
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Posted: 7/29/2021 2:38:01 PM EDT
[#4]
Truth.
When I turned 25, I got a settlement payout from an accident that crippled my mom when I was 3. Being a young dumb E5, I promptly blew through $50,000. I bought a restored 1965 GTO, and a shitload of airsoft and model kits. This was back in 2000. |
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Posted: 7/29/2021 2:38:07 PM EDT
[#5]
Quote HistoryQuoted: I'll be gone. It's theirs to do with as they wish. YMMV That line of thinking is actually more harmful to your heirs than giving them nothing. |
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Posted: 7/29/2021 2:38:49 PM EDT
[#6]
I have no clue who we'll leave anything to...maybe if my brother in law eventually has kids.
Maybe just burn through it all and leave the earth pennyless. But OP makes a good point. |
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Posted: 7/29/2021 2:39:05 PM EDT
[#7]
And whatever you do, don’t give them a 2.7 turbo Chevy truck if you like them.
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Posted: 7/29/2021 2:39:25 PM EDT
[#8]
Quote HistoryQuoted: Truth. When I turned 25, I got a settlement payout from an accident that crippled my mom when I was 3. Being a young dumb E5, I promptly blew through $50,000. I bought a restored 1065 GTO, and a shitload of airsoft and model kits. This was back in 2000. That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx 
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Posted: 7/29/2021 2:39:59 PM EDT
[#9]
Quote HistoryQuoted: I have no clue who we'll leave anything to...maybe if my brother in law eventually has kids. Maybe just burn through it all and leave the earth pennyless. But OP makes a good point. Open up a 501c and I'll run it for you. 
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Posted: 7/29/2021 2:40:15 PM EDT
[#10]
Quote HistoryQuoted: And whatever you do, don’t give them a 2.7 turbo Chevy truck if you like them. 
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Posted: 7/29/2021 2:41:27 PM EDT
[#11]
Quoted: ...if you plan on leaving money to anyone who isn't a grown ass adult, like in their 50s, make sure than money goes into a trust account that is managed by a professional trustee. The money will be gone ASAP and wasted.  I want my money to zero out when I zero out. |
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Posted: 7/29/2021 2:41:38 PM EDT
[#12]
I'm doing my best to blow through all my money...no kids. I'm not doing a very good job though.
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Posted: 7/29/2021 2:42:21 PM EDT
[#13]
Quote HistoryQuoted: I intend to waste it myself before I croak! I want my money to zero out when I zero out. Quote HistoryQuoted: Quoted: ...if you plan on leaving money to anyone who isn't a grown ass adult, like in their 50s, make sure than money goes into a trust account that is managed by a professional trustee. The money will be gone ASAP and wasted. I want my money to zero out when I zero out. nothing wrong with that |
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Posted: 7/29/2021 2:42:50 PM EDT
[#14]
Quote HistoryQuoted: I'm doing my best to blow through all my money...no kids. I'm not doing a very good job though. just make sure you get into the nice nursing home before you get on medicaid. 
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Posted: 7/29/2021 2:43:43 PM EDT
[#15]
That has never been an issue in my family.
When someone dies there is almost nothing and it is a matter of who gets stuck paying for the funeral! |
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Posted: 7/29/2021 2:43:56 PM EDT
[#16]
Quote HistoryQuoted: I'm doing my best to blow through all my money...no kids. I'm not doing a very good job though.
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Posted: 7/29/2021 2:44:08 PM EDT
[#17]
Viking Burial.
I' taking it all with me Put me and all my shit on a boat, float me out and let the flaming arrows fly. Go amass your own hoard. |
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Posted: 7/29/2021 2:45:04 PM EDT
[#18]
I went through 100k pretty quick when I was a young guy. Pussy is a hell of a drug.
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Posted: 7/29/2021 2:45:16 PM EDT
[#19]
Quote HistoryQuoted: I sure AF hope you plan on listing that as part of your estate. If not, you are opening up a can of worms. Quote HistoryQuoted: Quoted: Also, physical gold is easily transferable.... I sure AF hope you plan on listing that as part of your estate. If not, you are opening up a can of worms. My will is actually a treasure map to all my riches. No estate planning necessary. If you can figure it out you get the spoils of my hard work. Not really but that would be kinda cool. |
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Posted: 7/29/2021 2:45:39 PM EDT
[#20]
Quote HistoryQuoted: That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx  240 guys are NOTORIOUS for doing that. Drift guys especially, they'll have no bumpers and half the body panels zip tied together |
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Posted: 7/29/2021 2:45:56 PM EDT
[#21]
Quote HistoryQuoted: That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx Quote HistoryQuoted: Quoted: Truth. When I turned 25, I got a settlement payout from an accident that crippled my mom when I was 3. Being a young dumb E5, I promptly blew through $50,000. I bought a restored 1065 GTO, and a shitload of airsoft and model kits. This was back in 2000. That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx This reminds me... Wasn't there some rock singer, when asked what he did with his money, said "spent it all on booze, cars, and women, the rest I just wasted" or something like that? |
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Posted: 7/29/2021 2:46:10 PM EDT
[#22]
Whats the story behind this PSA?
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Posted: 7/29/2021 2:47:42 PM EDT
[#23]
I plan on being buried with all my stuff. No one can have it.
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Posted: 7/29/2021 2:47:46 PM EDT
[#24]
Quote HistoryQuoted: I went through 100k pretty quick when I was a young guy. Pussy is a hell of a drug. lol nice |
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Posted: 7/29/2021 2:47:52 PM EDT
[#25]
Quote HistoryQuoted: I'll be gone. It's theirs to do with as they wish. YMMV This. Benevolent tyrants unite! Either leave it to them or don’t. What will I really care when I’m dead whether my nephew spent that $ on college, a new car or hookers and blow when my body is worm food when he’s doing it? If I know there’s a propensity to spend it on hookers and blow and that offends me, just leave it to a charity instead. Few things worse than dead people trying to micromanage how the living live. It’s just a veiled attempt at immortality via a misguided focus on legacy. |
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Posted: 7/29/2021 2:48:06 PM EDT
[#26]
Quote HistoryQuoted: My will is actually a treasure map to all my riches. No estate planning necessary. If you can figure it out you get the spoils of my hard work. Not really but that would be kinda cool. Quote HistoryQuoted: Quoted: Quoted: Also, physical gold is easily transferable.... I sure AF hope you plan on listing that as part of your estate. If not, you are opening up a can of worms. My will is actually a treasure map to all my riches. No estate planning necessary. If you can figure it out you get the spoils of my hard work. Not really but that would be kinda cool. I plan to do this. 
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Posted: 7/29/2021 2:48:53 PM EDT
[#27]
Quote HistoryQuoted: 240 guys are NOTORIOUS for doing that. Drift guys especially, they'll have no bumpers and half the body panels zip tied together Quote HistoryQuoted: Quoted: That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx 240 guys are NOTORIOUS for doing that. Drift guys especially, they'll have no bumpers and half the body panels zip tied together I asked him why was he spending that much money on such a shit box when he only made $9 an hour. I told him maybe he should try to use the money to stop being poor. He did not like that. Plus it was a pain in the ass to hear from him every week to sell investments to send him a check. |
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Posted: 7/29/2021 2:49:23 PM EDT
[#28]
Quoted: Please for the love of boudin, if you plan on leaving money to anyone who isn't a grown ass adult, like in their 50s, make sure than money goes into a trust account that is managed by a professional trustee. The money will be gone ASAP and wasted. Thanks for attending my TedX talk Trust! |
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Posted: 7/29/2021 2:49:29 PM EDT
[#29]
Quote HistoryQuoted: Whats the story behind this PSA? 12 years of watching people waste money on stupid shit |
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Posted: 7/29/2021 2:49:43 PM EDT
[#30]
Eh i inherited large sum of money about 10 years ago when i was a young Lance Corporal and i still have a large chunk of it. I didnt waste a penny of it even though i had every opportunity. My uncle on the other hand who was in his 50s got the same amount and went on a week long bender which killed him.
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Posted: 7/29/2021 2:49:45 PM EDT
[#31]
Quote HistoryQuoted: I intend to waste it myself before I croak! I want my money to zero out when I zero out. Fuck that. I hope I have at least $100K in credit card debt when I die. |
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Posted: 7/29/2021 2:49:55 PM EDT
[#32]
Quote HistoryQuoted: That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx Yeah but I bet he got at least one trophy at a five car car show at the local grocery store, so it likely was worth it. |
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Posted: 7/29/2021 2:50:42 PM EDT
[#33]
Quote HistoryQuoted: That line of thinking is actually more harmful to your heirs than giving them nothing. So we’re all against the nanny state wrapping the citizenry in bubble wrap. But we’re all for the nanny estate wrapping the heirs in bubble wrap. |
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Posted: 7/29/2021 2:50:47 PM EDT
[#34]
Quote HistoryQuoted: Yeah but I bet he got at least one trophy at a five car car show at the local grocery store, so it likely was worth it. Quote HistoryQuoted: Quoted: That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx Yeah but I bet he got at least one trophy at a five car car show at the local grocery store, so it likely was worth it. LOL probably |
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Posted: 7/29/2021 2:51:46 PM EDT
[#35]
Quote HistoryQuoted: So we’re all against the nanny state wrapping the citizenry in bubble wrap. But we’re all for the nanny estate wrapping the heirs in bubble wrap. Quote HistoryQuoted: Quoted: That line of thinking is actually more harmful to your heirs than giving them nothing. So we’re all against the nanny state wrapping the citizenry in bubble wrap. But we’re all for the nanny estate wrapping the heirs in bubble wrap. please tell me where I asked the nanny state to step in? These are private entities making sure your heirs aren't retarded with money This is how it works. Trust Benficiary: Hey man I need $50,000 Trustee: ok cool, for what? Trust Bennie; I want to invest my money into EMUs Trustee: no, go to work Trust bennie: yeah but my friends... Trustee: *click* |
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Posted: 7/29/2021 2:53:23 PM EDT
[#36]
Quote HistoryQuoted: That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx Quote HistoryQuoted: Quoted: Truth. When I turned 25, I got a settlement payout from an accident that crippled my mom when I was 3. Being a young dumb E5, I promptly blew through $50,000. I bought a restored 1065 GTO, and a shitload of airsoft and model kits. This was back in 2000. That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx With that money, why not just import an old skyline
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Posted: 7/29/2021 2:53:44 PM EDT
[#37]
OP speaks truth. $45k in life insurance money absolutely ruined my 18 year old brother.
he's dead im not kidding |
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Posted: 7/29/2021 2:54:15 PM EDT
[#38]
Quote HistoryQuoted: Truth. When I turned 25, I got a settlement payout from an accident that crippled my mom when I was 3. Being a young dumb E5, I promptly blew through $50,000. I bought a restored 1065 GTO, and a shitload of airsoft and model kits. This was back in 2000. damn son....makes me feel good about my purchase. when i was 20 yrs old i got a $70,000 check from a car wreck settlement. i was a passenger and ended up with a crushed vertebrae, still walking though. only thing i did was drop $3000 on a honda interceptor 700 and gave the rest to my parents to invest in a business that we all ran together. |
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Posted: 7/29/2021 2:54:33 PM EDT
[#39]
Quote HistoryQuoted: With that money, why not just import an old skyline Quote HistoryQuoted: Quoted: Quoted: Truth. When I turned 25, I got a settlement payout from an accident that crippled my mom when I was 3. Being a young dumb E5, I promptly blew through $50,000. I bought a restored 1065 GTO, and a shitload of airsoft and model kits. This was back in 2000. That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx With that money, why not just import an old skyline Or I don't know, maybe learn a trade, or put it down on a 2005 Ford GT in 2009, get a nusring degree and be a Murse |
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Posted: 7/29/2021 2:54:36 PM EDT
[#40]
two bumper stickers:
be nice to your kid, they get to pick your nursing home and i am spending my kid's inheritance you choose which camp you fall in i know for sure, when i am cold, there will be nothing left to fight over |
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Posted: 7/29/2021 2:55:05 PM EDT
[#41]
Quote HistoryQuoted: 12 years of watching people waste money on stupid shit But don’t you think them having the right to “waste” money on what you think of as being “stupid” is sorta what freedom is all about. |
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Posted: 7/29/2021 2:56:05 PM EDT
[#42]
Quote HistoryQuoted: That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx Close friend just retired as a WC attorney after 40 years in the business. Oh man, the stories he has told me. One client got a huge settlement, took the check to the bank and opened an account only to cash it all out. Took them a few days to get the cash on hand. Something like $75K. Client went and bought a gun safe and put it in his mobile home. Cash came, he filled the safe with cash and proceeded to show it off to all of his "friends". He came home one evening and there was a hole sawzall'd the size of the safe on the wall where the safe use to sit. Tire tracks where a pickup had backed up to the trailer and they simply pushed the safe out the hole and into the truck bed. He had another client that was offered an annuity settlement for (arbitrary numbers) $150K total over 10 years or $70K cash now. Friend advised him to take the Annuity and if he wanted cash now, he could sell it to JG Wentworth for $125K and have his cash in 30 days. Nope. He wanted cash now. Took the $75K. Friend asked him, would you take a job that pays you $50K for 30 days work? This is what you are throwing away. You just cannot fix stupid. These morons got hurt on the job probably because they were stupid and they never learn... |
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Posted: 7/29/2021 2:56:42 PM EDT
[#43]
Quoted: Please for the love of boudin, if you plan on leaving money to anyone who isn't a grown ass adult, like in their 50s, make sure than money goes into a trust account that is managed by a professional trustee. The money will be gone ASAP and wasted. Thanks for attending my TedX talk Yep. I knew a 20-something back in the ‘80s who inherited $40,000 from a well meaning grandmother. He started to party, got mixed up with the wrong kind of “friends” that $40K can buy and in less than a year, he had dropped (failed) out of college, had multiple DUI arrests he was dealing with (including a few nights in jail) and a new found binge drinking and cocaine habit. Honestly, he would have been better off if she had just lost the money betting on the ponies. |
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Posted: 7/29/2021 2:56:52 PM EDT
[#44]
Quote HistoryQuoted: damn son....makes me feel good about my purchase. when i was 20 yrs old i got a $70,000 check from a car wreck settlement. i was a passenger and ended up with a crushed vertebrae, still walking though. only thing i did was drop $3000 on a honda interceptor 700 and gave the rest to my parents to invest in a business that we all ran together. Quote HistoryQuoted: Quoted: Truth. When I turned 25, I got a settlement payout from an accident that crippled my mom when I was 3. Being a young dumb E5, I promptly blew through $50,000. I bought a restored 1065 GTO, and a shitload of airsoft and model kits. This was back in 2000. damn son....makes me feel good about my purchase. when i was 20 yrs old i got a $70,000 check from a car wreck settlement. i was a passenger and ended up with a crushed vertebrae, still walking though. only thing i did was drop $3000 on a honda interceptor 700 and gave the rest to my parents to invest in a business that we all ran together. I had $18,000 from when a DD hit me in HS and I had about $7500 in other assets. $9000 to parents for CC debt $11,000 for college and a Honda CBR 600, sold the honda for what I paid for it and used the proceeds for more college $5000 down on a $58,000 house, sold it for $90,000 after putting $10,000 into it $2500 for an engagement ring that ended up costing me over $1,000,000 over the course of the 13 years later
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Posted: 7/29/2021 2:57:03 PM EDT
[#45]
Quote HistoryQuoted: Eh i inherited large sum of money about 10 years ago when i was a young Lance Corporal and i still have a large chunk of it. I didnt waste a penny of it even though i had every opportunity. My uncle on the other hand who was in his 50s got the same amount and went on a week long bender which killed him. This. There’s an undeniable trend towards increased wisdom as one ages. But that’s comparing the older individual to that same younger individual. |
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Posted: 7/29/2021 2:57:08 PM EDT
[#46]
I've talked about my adopted sisters here before.
They're never going to be capable of managing any real money, so I'll be managing it for them. May not be applicable if you have capable heirs, but if you don't, and the estate is significant, you'd be a fool to leave then to the wolves that will descend immediately once they have access to your money. I'm trying to get my MIL to take her estate planning seriously now too since we lost FIL last month, I've got a BIL in the same category. |
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Posted: 7/29/2021 2:57:25 PM EDT
[#47]
Quote HistoryQuoted: I sure AF hope you plan on listing that as part of your estate. If not, you are opening up a can of worms. Quote HistoryQuoted: Quoted: Also, physical gold is easily transferable.... I sure AF hope you plan on listing that as part of your estate. If not, you are opening up a can of worms. What’s inside that can of worms (besides worms) |
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Posted: 7/29/2021 2:57:44 PM EDT
[#48]
Quote HistoryQuoted: But don’t you think them having the right to “waste” money on what you think of as being “stupid” is sorta what freedom is all about. Quote HistoryQuoted: Quoted: 12 years of watching people waste money on stupid shit But don’t you think them having the right to “waste” money on what you think of as being “stupid” is sorta what freedom is all about. They didn't earn it, it was given to them, I am stating that if you want to give away "YOUR" money, make sure you got it fixed up right |
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Posted: 7/29/2021 2:58:02 PM EDT
[#49]
dont worry about it. Biden or Pres elect harris will do away with step up basis on inherited homes and investments or lower estate exemptions to zero so whoever you are leaving it to will be paying their fair share of taxes
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Posted: 7/29/2021 2:58:49 PM EDT
[#50]
Quote HistoryQuoted: Close friend just retired as a WC attorney after 40 years in the business. Oh man, the stories he has told me. One client got a huge settlement, took the check to the bank and opened an account only to cash it all out. Took them a few days to get the cash on hand. Something like $75K. Client went and bought a gun safe and put it in his mobile home. Cash came, he filled the safe with cash and proceeded to show it off to all of his "friends". He came home one evening and there was a hole sawzall'd the size of the safe on the wall where the safe use to sit. Tire tracks where a pickup had backed up to the trailer and they simply pushed the safe out the hole and into the truck bed. He had another client that was offered an annuity settlement for (arbitrary numbers) $150K total over 10 years or $70K cash now. Friend advised him to take the Annuity and if he wanted cash how, he could sell it to JG Wentworth for $125K and have his cash in 30 days. Nope. He wanted cash now. Took the $75K. Friend asked him, would you take a job that pays you $50K for 30 days work? This is what you are throwing away. You just cannot fix stupid. These morons got hurt on the job probably because they were stupid and they never learn... Quote HistoryQuoted: Quoted: That reminds me of a client of mine that instead of using his inheritance for somthing useful he spent about $75,000 turning a $2500 240sx into a $5000 240sx Close friend just retired as a WC attorney after 40 years in the business. Oh man, the stories he has told me. One client got a huge settlement, took the check to the bank and opened an account only to cash it all out. Took them a few days to get the cash on hand. Something like $75K. Client went and bought a gun safe and put it in his mobile home. Cash came, he filled the safe with cash and proceeded to show it off to all of his "friends". He came home one evening and there was a hole sawzall'd the size of the safe on the wall where the safe use to sit. Tire tracks where a pickup had backed up to the trailer and they simply pushed the safe out the hole and into the truck bed. He had another client that was offered an annuity settlement for (arbitrary numbers) $150K total over 10 years or $70K cash now. Friend advised him to take the Annuity and if he wanted cash how, he could sell it to JG Wentworth for $125K and have his cash in 30 days. Nope. He wanted cash now. Took the $75K. Friend asked him, would you take a job that pays you $50K for 30 days work? This is what you are throwing away. You just cannot fix stupid. These morons got hurt on the job probably because they were stupid and they never learn... ITs my money and I want it now! |
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