Can We Have a Money Forum?

a reply to: Atsbhct

I get pounds of paper practically every month from my investments.

I still have to call my accountant and say, "Uh, does this mean I'm not broke?"

So a money forum would be nice.

a reply to: DBCowboy

Right! What do we do when we reach an investment wall? My investments are pretty tame, but I still make great returns, which I reinvest.

So, you're comfortable, then what? How can we turn investments into sustained happiness, or protect the wealth for another generation?

a reply to: Atsbhct

if your sitting on a lot of cash that you do not intend on spending right now, consider a whole life insurance policy with cash value to leave to your heirs. Maybe best not to let them know they could have lots of money when you die. But, the wealthy families have been utilizing this method for centuries to bypass estate and inheritance taxes when leaving behind the money for their heirs after passing away. It is also purchased in the name of new born children so that when they become older their kids actually have cash to use for college, and still have a death benefit if they kill themselves driving drunk after a frat party from the borrowed money for college.

that is WHOLE life insurance and not Term. Term is like auto insurance, they want your money but barely pa out enough to cover funeral expenses and that is it. The entire cash value PLUS death benefit will be paid out in a whole policy. Plus, you can borrow from it over time if you so choose. Whatever you do not pay back is simply deducted from the cash value payout upon death.

A great way for grandparents to leave something to their grandchildren for college and or a car (even a house) while the irresponsible parents continue to blow credit card money on Sneakers, clothes, jewelry, video games, smart phones, tablets, clubs, drinks etc etc ....

Millennial parent be like "umm sorry kids, we blew everything we ever could have had on stupid worthless # that broke or got sold for a fraction of retail and are currently in debt til death" .
Kids say back "thats ok, because we actually spent time with your parents when you were complaining about they never want to watch us so you can go get plastered at the club while taking selfies on your smart phone in your new expensive sneakers. We have a huge life insurance policy which we can actually borrow from, get us through college, a car, and maybe a modest place to live. So enjoy this #hole you refused to raise us in, nana and gramps gramps at least had a plan, you useless pathetic mind controlled zombie"

Well, what are yall waiting for?? The whole life insurance market has done better than the stock market, is much more stable and less vulnerable to volatility, and the wealthy have used it for centuries even today still do to make sure their children will have something to survive on. Hell, you can even use it as your own retirement account technically once it has built sufficient cash value. Just get with the right wealth manager to determine what you can deduct (borrow) annually from the cash value at retirement without letting it dry up.

a reply to: Atsbhct

That is a good idea!

I've always loved collecting coins,
a money forum would be cool.

a reply to: AmericanRealist

This is exactly the kind of stuff we could use a money forum for!

I'm definitely a millenial, though. I don't think my kid will be raised by their grandparents while I blow my money; but honestly, that's kind of how I was raised by my own parents.

I've got one. Send funds to [email protected]

originally posted by: intrepid
I've got one. Send funds to [email protected]

Again?

Are you sure that you're a billionaire banker from Nigeria?

Because the last 3 said they were also.

a reply to: DBCowboy

trust us, hes good.

I expect a cut into that mr wolverine

a reply to: Atsbhct

I always figured Global Meltdown was broad enough to cover discussions on matters of wealth management as well. I did a thread on how I used leverage to own gold once. A few people appreciated it. Others thought it is pointless to own gold, but did not really have a counter when I asked how that could be the case when every ruler, central bank, government, and super rich families maintain such large holdings.

Like its good enough for all the rulers of the world, but not for your average working man??

I have continued and will continue to explain to my children that only bullion is real money, and paper is better for wiping asses and starting fires.

a reply to: AugustusMasonicus

I bet this was amazing money advice, but now I'll never know.

a reply to: Atsbhct

Sent you a PM.

a reply to: Atsbhct

well hey lets have fun in the global meltdown forum then. I love money. I bet we could generate some great ideas and participation.