About 30 percent of us will die before age 65. Do you have a plan B for your investments, in case you're unlucky?

[euphilia]

@resjudicata Those accidental drug overdose stats are mind blowing

 

[jaxon13]

@resjudicata Anyone contemplating suicide clearly also needs to do some estate planning if they have savings, since the two kinda go together...

 

[seadog4109]

@johnchristianforum If no kids then 50% to siblings 50% to some charity.

 

[crosswalk]

@johnchristianforum A small portion will to cover the costs of my memorial/funeral/whatever. The rest to charity.

 

[daniel1136]

@crosswalk Why not spring for the GOLD COFFIN like Aretha Franklin? (gold plated, but still pretty flashy!)

 

[estilow]

@johnchristianforum That's what will and estate planning is for. My kids are well educated in the merit of index funds. Even if my wife didn't pay attention, my kids will set her straight. Or she can do nothing, the accounts are already set up that way.

 

[bella10388]

@johnchristianforum My wife and I have a plan B, and a plan C.

Plan B: spouse gets it all. Beneficiaries are listed that way on every account. We check annually just to make sure no shenanigans occur.

Plan B+: one of us is injured and needs permanent long term care, we have insurance to cover it.

Plan C: we both go together, animals get lifetime care at a rescue farm, a couple of important (to us) foundations receive the majority. Family gets nothing as they did not help us earn it and they don’t need it.

Plan C+: we both need permanent long term care, that’s where the money will go until the plug is pulled. Then Plan C kicks in.

 

[thefurizion]

@johnchristianforum Plan A is Insurance. When you are young and healthy and don’t have enough investments yet, insurance is a cost effective way to cover things like paying off the rest of the mortgage giving your family a good life, and allows the kids to go to any university they choose. Plan B is investments. Once your investments are close to, or greater than, the value of the insurance, you flip the plan. Lower how much insurance you have and put that premium money into investments.

 

[kaleidoscopeheart]

@johnchristianforum This isn't strickly accurate. Those statistics include infant and childhood mortality. Those of "us" reading this post have already made it into adulthood, so the risk of dying before 65 is much lower.

 

[resjudicata]

@johnchristianforum Having a bio-kid with an acquaintance, would go to her college fund.

 

[resjudicata]

@johnchristianforum Keeping a good diet and not drinking or smoking I don’t think about it.

 

[resjudicata]

@johnchristianforum My plan is to maintain my physicality so that I am not one of the 30%.

The best investment an individual can make is exercise.

 

[travelingfarmgal]

@resjudicata Well-said. Exercise and Eating Healthy. And avoid risky behaviors. Avoid stressful work. Chances go down significantly this way.

 

[ritac2000]

@johnchristianforum I was thinking about this last night. It's unlikely my father will outlive me, but possible. The only person left is my brother and he may be well off. I've got more time to think this through (debt not savings at this point unfortunately), but am leaning towards the monies likely being donated towards a non-profit. All of my grandparents lived into their 80s (actually both are still kicking and screaming on my fathers side), but my little brother died out at age 18... it could happen and this deserves serious thought once I actually start to accumulate wealth.

The question I was wondering last night is: will or living trust? I don't know enough yet to decide on what's best for my state.

 

[nathanth]

@johnchristianforum I've got a wife, 2 kids, and a will. So it is pretty cut and dry who gets my hoard of cheese wheels.

 

[robertalecvanhouten]

@johnchristianforum .

 

[mrbeeyoutyfull]

@johnchristianforum I honestly like those odds lmao

 

[williame300]

@johnchristianforum I have my parents as my beneficiaries to my 401K and brokerage account in case shit goes south hard. Dad owns a few businesses so he knows what to do with the money. I'm sure money can't replace a loss like losing a son, for anyone, but it'd be my way of going "here's some return on your investment, it wasn't as bad a failure as you thought it was". My younger brother invested in AMZN back in 2010. He has zero worries. Youngest brother is special needs so he's a diffetent situation altogether. They don't need the money by any means. But they'd receive it nonetheless. As I get older I'm sure it'll change (if I get married, have children, or both, or decide to donate it to a charity or church or my alma mater, etc). But for now I'll try and take care of mom and dad for what it may mean to them.

 

[erilynbmore]

@johnchristianforum Not me, I'm going to be frozen and then come back. Do a Nixon.

 

[hison]

@johnchristianforum Unlucky? Speak for yourself.