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Go Back   FZ1OA Message Board > FZ1 & Fazer Owners Association > "Off Topic" Discussion

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Old 02-19-2020, 08:07 AM   #41
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One thing for sure, absolute worst case scenario, the kids will get the equity in my paid off house. I talk tough, but am really a softie at heart, will keep in the family and the reality is I am too cheap to spend it all, that is in large part how I managed to accumulate it the 1st place on a fairly modest income. Shhh... Don't tell the kids

It is normal to think about how we plan to spend or not spend our money at the middle aged stage in our lives. I took a little different approach, really focused on how I want to spend my time during life's remaining healthy years. My job, which I had for nearly 30 years, was stressful as Hell, and I got out as soon as I could and still receive retirement.

Gave up a little per month on a pension doing that, but hanging in there and then getting out ASAP was the best pair of decisions I ever made. My hair had quite a bit of gray in it back then in 2017, now the gray almost gone, no hair care products involved. Had the annual physical, my Doc said the blood numbers, which were very good before, look even better. She was pretty surprised by this, told her it is all from stress reduction - working as an independent contractor gives purpose, but I no longer have any "stress". Big difference between "purpose" and "stress"
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Old 02-19-2020, 09:23 AM   #42
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I hear you on reducing stress.

Barring a crash like 2008, I should be out of here in 4 years. Then onto my first retirement goal of being my wife's trophy husband.

One thing I made clear in the will is that 1) kids can take what stuff in house they want for memories, and 2) everything else is to be immediately given away or dumpster, and 3) house MUST be on market within 6 months.

I do not want my kids to deal with clearing out a rat trap full of crap, opportunities for fighting over crap, etc.

I also stipulated that if under 30 years of age, they only get a small part of anything left over (should there be anything). The balance of what is left they get after age 30.
Not sure what I should put down for my signature.....
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Old 02-19-2020, 10:31 AM   #43
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Originally Posted by WDD View Post
I also stipulated that if under 30 years of age, they only get a small part of anything left over (should there be anything). The balance of what is left they get after age 30.
When we did our estate planning and wills, we did something similar. We stipulated that the boys will only get X% before the age of 30. After that, they get the balance.
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Old 02-19-2020, 10:38 AM   #44
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Good things to think about. Thanks for sharing, gang.

Missus and I have the kid as our beneficiary on everything, but we need to lock in a will. Or even smarter, put everything in a trust.

Swapped the '05 FZ1 for an '17 Ariens 28 Deluxe.
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Old 02-19-2020, 10:41 AM   #45
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The worst part is watching one spouse have to bankrupt themselves paying for a few short months of lousy nursing home care for the other spouse. Someone who may have to live another 20 years with nothing left. Reminder to spend down before that happens.
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Old 02-19-2020, 02:47 PM   #46
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Originally Posted by WDD View Post
Three kids, youngest is Jr in college. We've provided for them growing up, made sure they got out of college with no debt. They're able to work / make a living.
We did the same thing. The oldest daughter (of 2) is now 33 and has over $100,000 saved and now saves $1,000/month besides the 16% she saves in her 401(k). The other daughter (32) is saving $1,000/week with her husband to buy a house. I don't worry a lot about their retirement and I'm doing fine in retirement myself.
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Old Yesterday, 09:01 AM   #47
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