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Old 12-15-2015, 05:33 PM   #61
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Actually the best way to figure out accounts would be to look at schedule B of the tax return. It is supposed to list all the financial institutions which payed more that $10 in a year.
Now this converstation raises an interesting question of how much info you keep in a sealed envelope, or on your computer to help whoever has to figure out what happened.
I have folders with old tax returns and the 1099s etc as well as scanning the 1099s into the computer. Then I have an envelope that contains the passwords to the computers (not to the online accounts however, since one should either show the poa or the letter testimentary to get access to the accounts)
Every year I do prepare a balance sheet that resides on the computer also.

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Old 12-15-2015, 09:25 PM   #62
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It depends for me. Typically I'll give vague answers unless I'm talking with friends on or near the same level as me work wise. Personally I've benefitted from knowing what my peers make in my industry with similar credentials to me. Of course I've only been in the work world for about 3.5 years and the differences are starting to compound. At what point those differences start to make for awkward conversations... who knows.

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Old 12-16-2015, 12:16 AM   #63
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I recall Richard Burton saying how he told his children they would get nothing from his estate, because he wanted them to learn and develop saving skills, vs rely on inheriting their retirement.

So I don't talk amounts to the kids or other relatives/friends as why set them up for feeling superior/inferior/jealous/pitying of us.

I did years ago mention to my sister how I had "lost" xxxxxx , and even years later I still see the resentment she feels for my being so lucky to work hard/save/be frugal, as she has nothing since she blows it all immediately.
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Old 12-18-2015, 07:07 AM   #64
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What other people think about my success is none of my business! So I keep the details to myself (and spouse).
For the fun of it...Keith
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Old 12-18-2015, 08:54 AM   #65
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Originally Posted by kcowan View Post
What other people think about my success is none of my business! So I keep the details to myself (and spouse).
nicely put
Merrily, merrily, merrily, merrily,
Life is but a dream.
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Old 01-15-2016, 01:18 PM   #66
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Originally Posted by Legally_dead View Post
I'm curious what others' approach and rationale is when it comes to the level of detail about your finances you share with family and friends.

I'm pretty open about it. My immediate family knows the big picture, I don't bother them with the details like what I am invested in specifically. They all know that I am working towards early semi-retirement and that I'll probably get there in the next five years.

A few people at work also know the big picture. Be careful with that though, in general its probably a bad idea.

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