ArchietheDragon
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Joined: Jul 7, 2014 14:29:23 GMT -5
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Post by ArchietheDragon on Nov 25, 2015 14:38:09 GMT -5
I dont get the whole "pass it on...pay it forward" concept. If everyone keeps passing it on, what is the point of getting an inheritance. Ego? To help the family member down the road that can't pay it forward. I do agree with gifting as much as you can while you are alive though.
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Deleted
Joined: Oct 13, 2024 5:26:26 GMT -5
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Post by Deleted on Nov 25, 2015 14:40:48 GMT -5
Why do you need to be cremated in a coffin? That seems like a waste of trees. Just put me on a funeral pyre and push me out into the middle of the Atlantic Ocean. No idea- maybe some people buy an inexpensive one for the viewing at the funeral home if that's part of their culture.
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taz157
Senior Associate
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Post by taz157 on Nov 25, 2015 15:03:56 GMT -5
I'm way more concerned about retirement than leaving DS anything. Yeah that (substitute DD and potential #2 for DS). FWIW, DH may get something from his parents (but whole knows depending on any medical issues) and I would be surprised if I got anything from parents, especially my dad. I anticipate a nightmare to clean up with my dad instead.
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NomoreDramaQ1015
Community Leader
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Post by NomoreDramaQ1015 on Nov 25, 2015 15:07:20 GMT -5
I'm way more concerned about retirement than leaving DS anything.
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svwashout
Established Member
Joined: May 22, 2011 12:41:13 GMT -5
Posts: 382
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Post by svwashout on Nov 25, 2015 15:26:30 GMT -5
I dont get the whole "pass it on...pay it forward" concept. If everyone keeps passing it on, what is the point of getting an inheritance. Ego? To help the family member down the road that can't pay it forward. I do agree with gifting as much as you can while you are alive though. Annual gift tax exemption is only ~0.3% of the estate tax exemption so you may be better off holding most of it if you have a small number of recipients. I don't plan on it but it'll probably happen anyway if my present spending and portfolio growth trends continue.
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Post by mojothehelpermonkey on Nov 25, 2015 15:43:54 GMT -5
Why do you need to be cremated in a coffin? That seems like a waste of trees. Just put me on a funeral pyre and push me out into the middle of the Atlantic Ocean. The funeral home we had to deal with didn't give us a choice and charged us $3500. I would be fine with donating my body to science. Med students have to get their feet wet somehow. It might as well be my remains that they are obsessing over during their anatomy class. I am pretty sure you get cremated for free at the end too.
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milee
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Post by milee on Nov 25, 2015 18:08:22 GMT -5
I would be fine with donating my body to science. Med students have to get their feet wet somehow. It might as well be my remains that they are obsessing over during their anatomy class. I am pretty sure you get cremated for free at the end too. That's another thing I've suggested to my family. But I'd like them to make sure that they attach a really funny note to my toe. The note should explain how I got some of these weird scars, tell them a little about my life and wish them luck in their career.
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Deleted
Joined: Oct 13, 2024 5:26:26 GMT -5
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Post by Deleted on Nov 25, 2015 18:45:12 GMT -5
Why do you need to be cremated in a coffin? That seems like a waste of trees. Just put me on a funeral pyre and push me out into the middle of the Atlantic Ocean. The funeral home we had to deal with didn't give us a choice and charged us $3500. I would be fine with donating my body to science. Med students have to get their feet wet somehow. It might as well be my remains that they are obsessing over during their anatomy class. I am pretty sure you get cremated for free at the end too. No ocean for me, I get seasick. And yes, I was raised less than a mile from the frickin' ocean. My mother suggested donating her body to science but since she died in a hospice facility I'm not really sure how that would have gone over. She was cremated. No muss, no fuss. She had the friggin' instructions written out for the last 20 years. I just had to take her ashes and pollute the blueberry bushes we used to pick from when I was a kid in Northern NH. Done. My dad was spread out further up Route 16 where he used to work summers for the Forest Service. My parents didn't have coffins. I think we "rented" one for my dad's service, small and quick, but the actual cremation didn't have one. My mother wanted no services or anything so she went from funeral home to crematorium. Fine with me. I hate funerals. We only had a visitation/short service for my dad because he was a teacher and had a lot of friends in town. Unfortunately, since he picked Thanksgiving week to die, not an awful lot of them were able to make it.
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Apple
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Always travel with a sense of humor
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Post by Apple on Nov 25, 2015 18:46:32 GMT -5
Since someone else already started it... I've been very clear to my son that I just want to be "set on fire, ashes dumped in the forest or in water". UNLESS...! He gets me a tombstone like this, he could spend money on a tombstone like this for me:
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Deleted
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Post by Deleted on Nov 25, 2015 18:57:40 GMT -5
Nobody is getting an inheritance from us. No kids and DH has MS. Any money I have will be long ass gone by the time he is gone.
I sold the family silver, I hate to polish. Sold the family house when my dad died. Don't have much else. 3 cats, a hearing aid and a spiffy new Honda CR-V. That's about it. Oh, and my mom's Wedgewood china since I didn't bother to register when I got married so I got that. It's nice. At least the band is platinum and not gold. I loathe gold.
Basically, it will be a house full of crap that DH's poor nephew or my sister will have to deal with. Lotsa luck to them.
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cronewitch
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I identify as a post-menopausal childless cat lady and I vote.
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Post by cronewitch on Nov 26, 2015 2:21:16 GMT -5
I dont get the whole "pass it on...pay it forward" concept. If everyone keeps passing it on, what is the point of getting an inheritance. Ego? Id rather help my kids while Im still around rather than leave them with a bunch of money once Im dead. My parents included their grandchildren in the will so I guess I dont have the obligation some apparently feel. Quite frankly, I hope my parents last long enough to enjoy every penny they earned. For me it is that I have excessive money. I can do and have everything I want with what I have and still will die with a pile of cash left. I saved enough to retire before 2008 then waited until 2014 to retire but keep saving and my investments recovered and grew and I kept getting bonuses and profit sharing then inherited so I have about 600K more than I need. I want a new house but when I look I only want to spend about 400-500 max and my old one will sell for most of that, any more and the houses are too big with too much landscaping, I don't want them. I am not a car person so my 7 year old car will last until I am 75-80 so maybe one more ever. Other than potential medical bills I have no big expenses in the future and could cash flow even most medical stuff like a nursing home. I don't have children or grand children and plan to live until my brother's grandchildren are 50 so helping out them will make my brother's happy and their kids and grandkids. My brother's grandson can't afford college without my help, his parents are both broke and nobody will cosign loans so gifting him 10-20K will mean my brother doesn't need to take from his retirement money. His wife was willing to take her 403B money to help her daughter get a condo so I stepped up and gifted her want she needed. Problems that can be solved with money aren't really problems if you have money. I consider the money my parents left me should be used to support their great grandchildren when they are doing good things for themselves.
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tallguy
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Post by tallguy on Nov 26, 2015 2:52:51 GMT -5
I dont get the whole "pass it on...pay it forward" concept. If everyone keeps passing it on, what is the point of getting an inheritance. Ego? Id rather help my kids while Im still around rather than leave them with a bunch of money once Im dead. My parents included their grandchildren in the will so I guess I dont have the obligation some apparently feel. Quite frankly, I hope my parents last long enough to enjoy every penny they earned. The point, at least for me, is that I acknowledge getting some "help." I did not earn that part of what I have, and it would be completely selfish of me to use it only for myself. Someone made it possible (whether intentionally or merely as "just turned out that way" for my life to be a little easier and less financially stressful than it would have been otherwise. I owe it to them to not waste that kindness, and I consider using it only for myself to be such waste.
And nobody has said you can't help people while you're alive. It is better that way, in fact. I am doing so for my son by starting him on investments that he would not otherwise be able to make. Funding his Roth is a no-brainer for me, given 40 years to compound and no taxes at the end. Just the relatively little money I give him now (that I don't even need) should grow to a million or more by then. FAR better to have it tax-free in his name than as part of an inheritance which may trigger an estate tax liability.
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MJ2.0
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Post by MJ2.0 on Nov 26, 2015 6:37:35 GMT -5
Yeah, for people who fall into that financial category. I guess if I got a lucrative job out of college and lived way below my means I could relate to your statement. for some of us, voluntary retirement may not be a guarantee.... hence worrying about our own retirement.
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Deleted
Joined: Oct 13, 2024 5:26:26 GMT -5
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Post by Deleted on Nov 26, 2015 17:42:30 GMT -5
I think what most people are saying is that the best "inheritance" that you can leave your kids is for them not to have to worry about you financially while you are alive. Be that through LTC insurance or sufficient savings to take care of stuff like nursing homes, your kids shouldn't have to figure out how they are going to support you.
If anything is left over, super. But that's not the objective. That's why most of us resent people looking to figure out how to save their assets for their kids while sticking the rest of us with the Medicaid nursing home bill.
I'm with the "more worried about retirement" group.
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Deleted
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Post by Deleted on Nov 26, 2015 17:55:40 GMT -5
I dont get the whole "pass it on...pay it forward" concept. If everyone keeps passing it on, what is the point of getting an inheritance?; I guess that my feeling is that the inheritance my Ex got from his parents gave us a huge benefit (entry into an expensive real estate market) and it would be nice if I could steward the results of that benefit wisely enough that future generations would share a part of it, too. Still, my biggest priority will be funding my retirement for as long as I live.
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