Throwing down the gauntlet

[bigbaldguy]

Also much easier to get it ruled an accident/pilot error, and thus death benefits.

Just FYI most insurance policies have a "recreational pilot" exclusion for death benefits. Just saying.

 

[JPINFV]

Ahh...

don't get one of those...

 

[emt seeking first job]

Drug OD it is then. Maybe "go overboard" during a fishing trip or something. I think getting a pilot's license and ramming the aircraft into the side of a mountain would be pretty bad***. At least my wife and kids can keep our assets. I'm sure I'm not the first person to consider this.

Um......

There is such a thing as asset management.

How about forumulating a plan to transfer some of your wealth to your heirs so you don't have to spend it down when you are old ?

How about getting an annuity ?

Life Insurance insures you against dying, and annuity insures you against living.

There are options for dealing with issues like that aside from ending one's life.

 

[46Young]

Um......

There is such a thing as asset management.

How about forumulating a plan to transfer some of your wealth to your heirs so you don't have to spend it down when you are old ?

How about getting an annuity ?

Life Insurance insures you against dying, and annuity insures you against living.

There are options for dealing with issues like that aside from ending one's life.

I'm planning to meet with a financial planner soon.

With an annuity, I'd have to surrender my principal. Since I'll already get a pension, I prefer to keep my assets invested, and receive dividends to supplement that pension plus some modest growth, at least to pace inflation.

I'm most likely going to take the full pension benefit, and take a policy out on myself, instead of a reduced benefit so that my spouse can continue to collect my pension if I die.

You have to be careful when transferring your assets to your heirs. A spouse can scam my child out of their inheritance. My 6 year old may turn out to be a drug addict, and squander the money. My future grandchildren may turn out the same way. My two children (maybe more in the future) can lead different lives. who's to say who deserves more of a cut? One may choose not to have kids, the other may have several. I'm sure a financial planner and maybe a tax attorney can help me figure it out. I'll look into what types of living trusts are appropriate, if long term care insurance is worth it, etc.

 

[Melclin]

Bah! I go off to bed and yet the world goes on chatting without me. Outrageous.

I'm tagging out.