View Poll Results: How much will be left when you die?
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Zip- my plan is to spend it all
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15 |
13.04% |
$50,000 or less
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7 |
6.09% |
$50,000-$250,000
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18 |
15.65% |
$250,000-$500,000
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8 |
6.96% |
$500,000 or more
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67 |
58.26% |
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04-22-2010, 03:25 PM
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#21
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Thinks s/he gets paid by the post
Join Date: Jul 2003
Location: Pasadena CA
Posts: 3,341
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Current plan is to build our Roths up to $50K each and these will go to our two sons. Plan to spend down everything else, not sure about the how the house will fare as we get older. But all funds outside the Roths are targeted for spending, which we are having fun doing. Just back from a marvelous trip to Bali.
__________________
T.S. Eliot:
Old men ought to be explorers
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04-22-2010, 03:51 PM
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#22
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,056
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Quote:
How much will be left when you die?
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All of it
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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04-22-2010, 04:09 PM
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#23
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Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
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Quote:
Originally Posted by donheff
Who knows? Depends on how the market functions and whether our spending decreases or increases as we age. Excluding property makes no sense. We (currently) plan to age in place. Our house(s) will be a substantial legacy.
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+1
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04-22-2010, 04:17 PM
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#24
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,056
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Quote:
Originally Posted by donheff
Who knows? Depends on how the market functions and whether our spending decreases or increases as we age.
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+2
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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04-22-2010, 04:21 PM
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#25
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,796
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I agree with others who say "Who knows". I voted over $500,000. I think my son, my primary heir, should inherit several million dollars unless some LTC situation sucks everything up. He is well-educated and more of a saver than his father and I ever were. He also has a good income(better than mine). I don't have any valid worries about him. I don't plan to scrimp, but I don't see my estate being zeroed out unless I am struck by some devastating illness. I am kinda skating on thin ice as I don't have LTC insurance. I am gambling, given my family history, that I won't need it. Or that if I am gifted with a long life(90's), I can hobble along independently as all the (relatively rare) long livers in my family have managed to do. Well, only 3 have lived past ninety.
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04-22-2010, 08:24 PM
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#26
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,130
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Since I'm a LBYM type of person, I'll probably have some left over. But it's tempting to live like a king (no, not Larry King ) in my final years and let whatever happen happen for those left behind to worry about.
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04-22-2010, 08:34 PM
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#27
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Recycles dryer sheets
Join Date: Aug 2009
Posts: 348
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Quote:
Originally Posted by audreyh1
Even though I plan to give most of it away before I die, I have a feeling there will be some left over.
Audrey
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Audrey if you pass before me just put me on your list
__________________
I am FIRE'd... :)
contract on the house, bought an RV and now traveling across America
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04-22-2010, 08:41 PM
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#28
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Gone but not forgotten
Join Date: Aug 2006
Posts: 6,924
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$50,000-$250,000
-------------------
I'll start taking money from retirement accounts later this year. Have already increased how much I give away.
Anything leftover goes to some local charities and maybe some friends.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
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04-22-2010, 08:44 PM
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#29
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,294
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Hey...I love leftovers!
__________________
There's no need to complicate, our time is short..
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04-22-2010, 08:47 PM
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#30
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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I'm pretty sure that this existence is all a dream of mine, and when I die it will all go poof! So, nothing.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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04-22-2010, 10:01 PM
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#31
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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In theory - all of it since our retirement plan is to maintain the real value of our assets and live off the real return.
In practice - I have no idea.
__________________
Budgeting is a skill practised by people who are bad at politics.
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04-23-2010, 08:53 AM
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#32
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,691
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Quote:
Originally Posted by rec7
It is hard to go to zip unless you do it early. This question is hard like the SS question because you don't know you death date.
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Not if you go with a annuity
TJ.
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04-23-2010, 09:07 AM
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#33
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,302
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It depends. If DW goes first, I will spend it all. If not, then I have to leave something for her.
After all, I have to be able to live with myself. But wait, I'll be dead, so does it matter?
Now I'm getting a headache....
__________________
When I was a kid I wanted to be older. This is not what I expected.
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04-23-2010, 09:48 AM
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#34
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,684
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Quote:
Originally Posted by easysurfer
Since I'm a LBYM type of person, I'll probably have some left over. But it's tempting to live like a king (no, not Larry King ) in my final years and let whatever happen happen for those left behind to worry about.
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Don King?
Haven't thought about it much. FireCalc says at the end of the plan the remaining pile could be anywhere from 1/5 to 5 times its current size. I suppose if, over the course of the plan, we are fortunate and the portfolio grows a lot we might increase spending a little.
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04-23-2010, 09:52 AM
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#35
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Location: St. Louis
Posts: 1,563
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Quote:
Originally Posted by teejayevans
Not if you go with a annuity
TJ.
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I had not thought of that.
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04-23-2010, 10:03 AM
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#36
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,294
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Quote:
Originally Posted by Walt34
It depends. If DW goes first, I will spend it all. If not, then I have to leave something for her.
After all, I have to be able to live with myself. But wait, I'll be dead, so does it matter?
Now I'm getting a headache....
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Looks like you'll be going first......
__________________
There's no need to complicate, our time is short..
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04-23-2010, 02:06 PM
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#37
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Recycles dryer sheets
Join Date: Feb 2010
Posts: 389
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I won't be able to die broke unless I am forced out of my house and have to sell it and give the proceeds to the retirement village just to live there.
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04-23-2010, 03:22 PM
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#38
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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I don't really care.
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04-23-2010, 08:09 PM
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#39
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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I think it is likely we will leave to my children quite a bit of money. As much as I have posted here threatening to spend it all as I cannot take it with me, the truth is that I am too chicken. I want to enjoy life and to live right at my means and not below it, but the market god giveth and he also taketh. Who knows what one's means really is next year?
And then, how many times have I posted here that I think I am a manifestation of Duck McScrooge? What if I keep enjoying counting my money more than spending it?
PS. Just the other day, I heard this trivia question on the radio. "How much does a million dollar weight, in single dollar bills?"
On top of my head, I would have guessed a few hundred pounds, but the answer was more than 2,200 lbs!
In 100-dollar bills, it still weights 22lbs and is a 4-foot high stack!
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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04-23-2010, 08:10 PM
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#40
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Thinks s/he gets paid by the post
Join Date: Feb 2010
Location: Cavalier
Posts: 2,317
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I also don't know or care very much. I have no kids to leave anything to so have set up a will to liquidate estate and set up a scholarship fund for math and science students from the local high school.
__________________
"Don't take life so serious, son. It ain't nohow permanent." Pogo Possum (Walt Kelly)
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