Preparing for the 22nd Century

[Gumby]

Gumby,

Perhaps consider educational scholarships for current relatives instead of buying raw land to be used by some unknown Gumby-decendants decades from now?

In doing genealogy work, a few years ago I found an older relative who had married into a family that has a thriving scholarship program. It was set up a generation or two ago. They even issue a small annual bulletin with updates how past recipients are doing and which young relatives have been awarded new scholarships.

Sort of like "teach them to fish instead of give them a fish".

omni

I like this idea, and it may be more practical than land.

 

[Jerry1]

Yeah, you might buy land that is high enough to handle the rise in sea level only to be in a drought (desert) area. Education would seem a better alternative.

 

[RunningBum]

I remember a recent thread where someone inherited (or was set to inherit) some land that didn't have road access and was unusable, but they still owed taxes on it. They were lucky to unload it. So I'd be careful what you buy, and putting any stipulation that it can never be sold. It could be burden to your heirs before it actually becomes useful, if it ever does.

Seems to me that farmland in the upper midwest might be reasonable to buy. Lease it out to someone to farm to get something for it now, plus having it occupied seems better. If warming happens, there's probably more you could grow there, and you might even be able to be self sufficient. But you'd have to hope that the government isn't overthrown and property ownership goes away, or chaos means someone better armed can take it over.

 

[OldShooter]

OP might be thinking of land in Canada, currently an exchange rate gives $1.20 per USD so the land is cheap.
They have a LOT and a small population. ...

And there is always the future possibility of warm beachfront property on Lake Winnipeg.

 

[old medic]

And I guess that is the heart of the issue. My siblings have children and grandchildren in the here and now who have needs for funds.

Our family has been blessed with longevity... My Mothers Dad was the youngest to pass at only 68. The remaining of that generation late 80s up... oldest was his mother at 103. With his passing, his 6 children established a family trust fund with the remains of his estate. It is used for any family emergencies that occur and voted on by the kids. Others have since passed and also left some of there estate to the fund.

 

[splitwdw]

The problem with my family members is not that they don't know how to save and invest money, it's that they can't generate it in the first place. I am still the first and only college graduate in the family.

Are you hoping that some future family member will go to college so they can generate money? Going to college doesn't guarantee anything.


Gumby, It's a nice thought about the communal property for family members in the event of massive climate change. It's a better thought about the scholarship. I look at some of the stories on this forum and from my own life where we try to show/help relatives to a better life. Very few seem to want that help. If someone asks me how to "improve" their work life, investing, etc I help if I can.

 

[Gumby]

Are you hoping that some future family member will go to college so they can generate money? Going to college doesn't guarantee anything.
...

You are correct - college is no guarantee of money. But a degree does offer more possibilities. Some degrees more than others.

 

[Music Lover]

I thought climate topics weren't allowed?

IMO, if you're worried about sea level rise (I'm not), buy land high enough to give you peace of mind.

 

[Gumby]

I thought climate topics weren't allowed?

IMO, if you're worried about sea level rise (I'm not), buy land high enough to give you peace of mind.

As I mentioned earlier, I'm not concerned about sea level rise where I live, which is right on the coast. My house is 25 feet above sea level and it will take a substantial amount of time before it is in any danger. Certainly more time than I have left. But, as I also said in my initial post, I'm not looking to debate climate change (which is discouraged), merely looking for feedback on my idea to provide for unborn generations of my family.

So far, helpful posters have given me much to ponder about the wisdom of passing on undeveloped land to future generations and have offered alternative approaches. These are issues that may be of more general interest to many here, climate change or not.

 

[omni550]

You are correct - college is no guarantee of money. But a degree does offer more possibilities. Some degrees more than others.

There might be additional opportunities for 'scholarship' aside from college to enable relatives to make better incomes and savings, depending on the interests/talents/skills of the recipient.

I'm guessing perhaps things like CAD (computer-aided design), graphics, aviation/space mechanics, getting into journeyman programs in the skilled trades and the like, learning skills in running a small business, might also position them for better incomes/savings, possibly self-employment, etc.

Sometimes seeing possibilities that were previously unseen/unknown can open up new worlds.

omni

 

[Tetto]

I note the OP is being somewhat cagey about the locale of his climate resistant preserve. If we promise not to jump in and buy up a bunch of acreage can the secret be revealed?

I wouldn't reveal to anyone where i was planning either. No way!

 

[Irishgirlyc58]

We’ve had a similar conversation in my family. We’ve discussed moving to a specific location but that has developed housing. Just an area that is potentially more climate friendly for humans (and animals) given the expected changes in temperature etc.
I also brought up the fact that while this seems overly dramatic I actually don’t think it is.

The concern I would have for undeveloped land Is if your nephews/niece don’t have the money now chances are they won’t have it in the future to build on the property.
Is there no housing at all in the general vicinity?
If not I think leaving them with funds that allow for greater options may be the most useful.

 

[Walt34]

You are correct - college is no guarantee of money. But a degree does offer more possibilities. Some degrees more than others.

Sometimes merely having the degree, no matter the subject, opens doors that would otherwise remain closed. Where I worked much effort was given to encourage people to earn a degree, and later on it was required for promotion. They didn't care what subject the degree was in - being a law enforcement agency they wanted that wide range of expertise. The station commander when I was first hired had a degree in Animal Husbandry. I'd never heard of such thing. But when I got a cattle rustling case he was the go-to guy on where to start, as I had no idea.

And if nothing else it tells a potential employer that the person has the perseverance to finish a project.

 

[eytonxav]

I wouldn't reveal to anyone where i was planning either. No way!

Especially if you are a doomsday prepper.

 

[Tetto]

if you are a doomsday prepper.

Not so much that, but why encourage a flood of people to come to the same area? The more I think about it, the better the idea sounds.

 

[Sunset]

I have a friend, who inherited 1/2 of an island on a large lake (not great lakes) with her 3 siblings.
This 1/2 island was held by her grandparents, it's been in the family for ~100 years.

The family that owned the other 1/2 of the island about 15 yrs ago, sold/gave it to her.

Three years ago she offered to sell her complete 1/2 to me, I said I'd rather buy the entire island, but that brought up the issue of the other 3 siblings agreeing and one is crazy..

All of this has made me reconsider a long standing thought that I'd like to buy it, as now I see this land has been in their family for ~100 years, and they haven't done anything with it. They have to pay cheap taxes on it, but compared to the stock market it has done very poorly in value.

While I romantically like the idea of buying it, I realistically don't have the energy and time to clear and build a cottage and dock on it.
I think that that is why they haven't done anything with it as well.

 

[ScoopKona]

Sometimes merely having the degree, no matter the subject, opens doors that would otherwise remain closed.

I wish everyone in this country felt this way.

 

[eytonxav]

Not so much that, but why encourage a flood of people to come to the same area? The more I think about it, the better the idea sounds.

My comment was meant tongue in cheek.

 

[frayne]

A degree is worthless without the requisite work ethic.

A problem I have seen many times with land handed down for generations is family discourse as one party wants to sell, one wants to keep, sides are taken and nothing but hard feelings, sometimes until the death of a party and longer.

 

[Tetto]

My comment was meant tongue in cheek.

 

[Stormy Kromer]

"Cabin Trusts" are common in northern Minnesota. I know of a law firm that specializes in them.

 

[kingkarmann]

Nice sentiment but I’m afraid our childrens children regardless of how well we try to set them up for the 22 century will be working for the company store.

 

[Mojo-6]

I note the OP is being somewhat cagey about the locale of his climate resistant preserve. If we promise not to jump in and buy up a bunch of acreage can the secret be revealed?

Coincidentally, I happened to come across this video on youtube a couple of days ago: THIS Is the Safest Place to Live as the Climate Changes -- part of a PBS science series. They cite a study that ranked the climate risk level of every county in the US, and identify which county was ranked the safest. Hint: It's in New England!

 

[meleana]

Very melodramatic, but hey if that’s how you feel do it.

My husband and I lived on a lot of wooded acreage, secluded and all that in upstate NY. Now older we down sized and have essentially no land- a tiny house in an HOA development in New England.

I hope our son will inherit it and do what he wants. I have no concerns about climate change. It’s the natural cycle of life on earth.

 

[Yoheadden]

I can fully appreciate where the OP was going in his thought process about acquiring land for future generations. If you read any of the information out there about climate change, it sounds like dooms day predictions for lots of current desirable locations. I was recently reading a study on how tornado ally has shifted more to the southeast.
So, as more and more locations become less desirable, it’s only natural that future areas will become more valuable.
That being said, the voices of our online community, brought up some good issues on why this might not be the best strategy. The more people involved, the more complicated it gets, regardless of the best intentions.
I thought some of the alternative responses were great ideas and wouldn’t even think of setting up an emergency fund or scholarship account.