Any possibility of that income stream coming to an end or changing significantly?
Do you have sufficient funds for extended long term care?
Could you deal with both issues happening?
So long as those questions are answered correctly, no reason you could not be more aggressive with clearly excess assets.
If your advisor isn’t already taking that into account for their fee, that would be an issue for me. At your age I would not want to start doing it all myself, starting with zero knowledge, but everyone does have to start someplace I suppose.
I agree with others though- better to pass on some assets while still alive, when folks can use a helping hand a lot more for things like college, house down payments, etc. I told a parent that they should do the same for the grandkids, because I have already navigated the situation successfully, so don’t worry about me. Took a while but they finally got the message.
Do you have sufficient funds for extended long term care?
Could you deal with both issues happening?
So long as those questions are answered correctly, no reason you could not be more aggressive with clearly excess assets.
If your advisor isn’t already taking that into account for their fee, that would be an issue for me. At your age I would not want to start doing it all myself, starting with zero knowledge, but everyone does have to start someplace I suppose.
I agree with others though- better to pass on some assets while still alive, when folks can use a helping hand a lot more for things like college, house down payments, etc. I told a parent that they should do the same for the grandkids, because I have already navigated the situation successfully, so don’t worry about me. Took a while but they finally got the message.
Statistics: Posted by MHA556 — Fri Oct 25, 2024 12:57 am