Recent content by poe_999

I think this is what im going to go with. No, invent was deliberate. I was using the term to illistrate that i don't have a substaintial amount of money to invest nor give away. I guess I should point out, i don't have access to 50K to buy the annuity either. Even if I had 50K in a savings...

I have already had a talk with them. Currently it is not possible, nor does it look like it will be in the next few years. They have rented the same place for about 20 years. The landlord hasn't kept up with raising the rent on them. They are getting a very very good deal on rent. Could they...

I have thought about this option. The problem is i can not afford the house payment and i would be the only source of income if my father passed. This would be an option if there was enough time for inflation, paying the principal down, and salary increases and to make it affordable for me...

This is not an option as my dad is border line uninsurable. I got several quotes and he was either deemed uninsurable or the payout option is equal or less than what is paid in. A savings account would be the better option. Michael

That book has been on my to read list for years. If i ever read it i will check back. Michael

It seems the consensus is this is a very bad idea. The idea is to basically give my father a loan (with interest say 8%) so he can take advantage of his company’s 401K matching, which is basically inventing money from nothing, which will be repaid upon death. Worse case scenario is the loan is...

I agree to, it just doesn't seem possible.

I talked to a wealth manager and this was his suggesion. Only problem is it requirement me to front 50K which i will never see again.

I'm assuming you are refering to a 401K loan? What happens if you don't repay a 401K loan?

She knows they are broke. I pretty sure she thinks her kids will take care of her or she will get by on SS.

Already talked to the siblings about this. 2 major problems. 1. Siblings can't help (or wont). They are all in thier own fincaial mess. 2. I tried to get life insurance. The insurance companies have said either unisurable, or the amount paid in equals the payout. a 15 year policy would pay...

yes but i believe the cap is 1.5 times his salary. He is already signed up for that.

I feel like I do not have enough time, or funding to make any sort of difference with more traditional methods.

I would want some sort of power of attorney or be an agent on his 401K. I would check myself.

This is pretty much going to happen no matter what. The difference is going to be how much will i be shelling out in the future. I'm trying to figure out a way to invent $$$ now, plan ahead, and create less of a financial impact 10 years from now. Dad is about 100 lbs over weight, smokes 2...