Obligations to our Filipino wives!

[Bruce]

Wise words of wisdom... LEASE... do not purchase. Treat as a business obligation. Buy 50K (US OR UK) life insurance policy and do not tell her... No need to have a bounty on your head. Then continue on as you would and if (when)something happens to you, that 2 million pesos will keep her going.

In my case I built building / boarding house and have a 50 year lease. At 60, I do not expect to survive the lease. When I an dead, the building belongs to the land owners. Not my problem. I am dead!

Do not over analyze or over plan. Nothing then gets done. Use basic common sense and plan as you can but do not micro manage. If you do... then life and opportunities will pass you by.  

[robert k]

I know this is about separating but if you decide to separate first in a permanent manner...as in achieve ambient room temperature, it's good to leave the spouse in a good place and the kids a leg up in the world. What you can't do is set up the descendants to the third generation. Someone is going to squander it or some slick talker is going scam them out of it, so it's best that people struggle a little so they have the life tools to actually go to work when that happens

Edited October 18, 2016 by robert k

[Reboot]

5 hours ago, robert k said:

I know this is about separating but if you decide to separate first in a permanent manner...as in achieve ambient room temperature, it's good to leave the spouse in a good place and the kids a leg up in the world. What you can't do is set up the descendants to the third generation. Someone is going to squander it or some slick talker is going scam them out of it, so it's best that people struggle a little so they have the life tools to actually go to work when that happens

Multi-generational wealth can be created, and it has been in some families spanning many generations, but it requires multigenerational attitudes and habits...things that must be taught to those that come after us.

[Jack Peterson]

5 hours ago, robert k said:

 

I know this is about separating but if you decide to separate first in a permanent manner.

 

 

7 minutes ago, Reboot said:

things that must be taught to those that come after us.

Pity it was not taught to those that came before Us 

[RBM]

Common logic would say, leave the bulk of your assets at home. What one brings can, will be shared, with spouse or partner, not family.

A wealthy friend recently asked me about opening a bank account as he has no ACI card. Why...as I know you have many years a joint account and been married almost 30 years. Well he said it's like this, my wife is a magician she can make money disappear.