When You Are Gone

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Posted

Build that house she has always wanted, make sure there is money in the bank too, but enjoy all you can before you leave this world, she managed well before i got here and i am sure she will manage well once i have gone,

I have just got to make sure the rest of the so called family dont get involved with what i have left and spend it all on themselves

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Posted

I aim at:

1/ geting 2 (or 3) kids with "my" Filipina.  Then related to my RETIREMENT PAY Sweden will pay around 20k pesos totaly after tax per month as long as they are under 19 years old.  (Or perhaps only 10k depending of how they interpret the laws.) In WORST case they can live of that.

2/ having HOUSE plus at least 3 hectares LAND, probably with FOREST at most of it, which can be transformed to money. I don't want to wait until I can finance everything cash, so I plan to buy it partly with loans, but aim at all is paid when I'm 75, and I plan to live longer than that   :)

3/ starting a business and teach my wife to handle it. When the youngest kid is 8-10 or so, then the plan is leting the wife work and handle more and more, while I retire step by step. The goal is making it a "for ever" FAMILY BUSINESS, where the kids can get work, when they grow up, if they want to, so no costs are needed for College   :lol:     (I hope they can and will do as I did = Get the needed knowledge by self studies and work practice.)

((4/  PERHAPS a life insurance or an inheritable retirement fund can be added, IF there will be cash the business don't need.  But I prefer to use it as working capital, so no big fees. At least in the shape I'm now   :)     Perhaps I will change my mind, when I get older.))

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Posted (edited)
so I plan to buy it partly with loans, but aim at all is paid when I'm 75, and I plan to live longer than that :)

At 43 yrs old I found out the hard way, never take anything for granted.

The best laid plans of men and mice....must look up where it comes from.

Of course we must have plans and projects for the future, if you love somebody or have family, naturally you should make sure they are cared for via a will etc, should the inevitable happen.

 

 

spellcheck

Edited by Kuya John
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Posted

My wife will not leave her parents in the Philippines. When she does decide to be with me in the US, we will get her Green Card and register her with Social Security Administration.  Maybe even have her Naturalized, if she wants.

She will be the beneficiary of my Social Security benifits as a surviving spouse. She will be financially secure. My home in the states is paid for. She can return to the PI if she wants after I'm dead. 

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However, never under estimate the ability of a woman from a Malayo-Polynesian background to run  through whatever you leave her in a year, or two at the most. The recent widow will be a magnet for "pogi" young men who will do an excellent job of helping her spend whatever you leave her - and she will be the more vulnerable because you are not there.

 

And here in lies the secret....

 

If one is up there and looking down one dies all over again.......

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Posted

You bring up something we need to do.

My wife and children will be comfortable financially if I pass today. What my wife and I have not done is make an action plan when I pass. It would be helpful to her if we were to thoroughly go through the SS benefits and my company pension details. She knows about them but we have never sat down and gone over who to call what to do. My wife handles all our financial actions so this will not be difficult for her.

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so I plan to buy it partly with loans, but aim at all is paid when I'm 75, and I plan to live longer than that :)

At 43 yrs old I found out the hard way, never take anything for granted.

The best laid plans of men and mice....must look up where it comes from.

Of course we must have plans and projects for the future, if you love somebody or have family, naturally you should make sure they are cared for via a will etc, should the inevitable happen.

BOTH land and the loan the land it's collateral for will be in HER name  

=If my wife would leave me and try to take it within 10-15 years, she would get the dept too   :)   

(I haven't decided yet if doing same with the house, or if that will be in my name, but I believe things on leased land aren't accepted as collateral.)

 

No will needed in  my case* because if I get married and get kids in Phils, they will get all anyway    (except my wife will not get the most important business instructions, if she get me murdered     :mocking:   

 

*Except if I want to change who get the part, which isn't inheritance rights parts.

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Posted

Once I committed myself to my gf, I made her aware that she would be the major beneficiary of my will, but

I also have two grandsons that I want to leave something . However, I am going to have a good time whilst I am

here and whilst not wasteful, I wont be worried other than a place for gf to live, after I check out.

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