Forum Support Mike J Posted May 5, 2018 Forum Support Posted May 5, 2018 Another consideration for the OP who says he may marry a Filipina, and also for those of us married to a Filipina. We need to consider not just how long WE need our money to last, we need to consider how long our spouse will live after we pass. This can become a challenge the greater the age difference. My wife is 16 years younger than I am and I have always taken that age difference into our financial plans. Also her family seems to have "good genes" with her father already 83 in good health, and mother late 70s excellent health until a stroke 3 years ago. For those of use married to younger ladies . . . . They will take care of us as we grow old, the least we can do is make sure we also take care of them as THEY grow old. This applies even if we are no longer living. My opinion of course. 4 1 Link to comment Share on other sites More sharing options...
sonjack2847 Posted May 6, 2018 Posted May 6, 2018 5 hours ago, Mike J said: Another consideration for the OP who says he may marry a Filipina, and also for those of us married to a Filipina. We need to consider not just how long WE need our money to last, we need to consider how long our spouse will live after we pass. This can become a challenge the greater the age difference. My wife is 16 years younger than I am and I have always taken that age difference into our financial plans. Also her family seems to have "good genes" with her father already 83 in good health, and mother late 70s excellent health until a stroke 3 years ago. For those of use married to younger ladies . . . . They will take care of us as we grow old, the least we can do is make sure we also take care of them as THEY grow old. This applies even if we are no longer living. My opinion of course. It may be your opinion but as far as I am concerned it is 150% correct.I have seen a few ladies here left pretty much destitute by partners who have died and left no provision for them to live after.Even if you just pay their SSS it`s something. 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted May 6, 2018 Posted May 6, 2018 1 hour ago, sonjack2847 said: I have seen a few ladies here left pretty much destitute by partners who have died and left no provision for them to live after. I have also seen that. But every one I have seen has a new man within a very short period of time. So why should I be worried about leaving money for someone who is younger than my kids, perfectly capable of working 40 years like I did, and who is going to be supported by the next guy anyway? Mind you its different for you because you have a kid. We all have to pay for our own kids, or we should, but in my case my partners have all been grown women and any kids are not mine. Its not up to me to give them a lifelong pension. Wot do i look like, the UK government? Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted May 6, 2018 Posted May 6, 2018 1 hour ago, sonjack2847 said: I have seen a few ladies here left pretty much destitute by partners who have died and left no provision for them to live after What did they have prior to the relationship and what did they contribute during the relationship. 2 Link to comment Share on other sites More sharing options...
AwesomeLife Posted May 6, 2018 Author Posted May 6, 2018 Thanks everyone. I again will disclose I plan on renting for a year but the goal of this would be to buy (or lease for 75 years) a home if it makes financial sense. While I'll still pay maintenance, taxes, insurance, etc, I'm not paying rent so I would hope that I could live the basic lifestyle I want and have at least several hundred left over monthly. If that's the case, when I start taking SSS, it will literally be a windfall where everything can be banked and go towards leaving my new and existing family (two siblings and one nephew so far) something. Link to comment Share on other sites More sharing options...
robert k Posted May 6, 2018 Posted May 6, 2018 1 hour ago, AwesomeLife said: Thanks everyone. I again will disclose I plan on renting for a year but the goal of this would be to buy (or lease for 75 years) a home if it makes financial sense. While I'll still pay maintenance, taxes, insurance, etc, I'm not paying rent so I would hope that I could live the basic lifestyle I want and have at least several hundred left over monthly. If that's the case, when I start taking SSS, it will literally be a windfall where everything can be banked and go towards leaving my new and existing family (two siblings and one nephew so far) something. Not wishing ill on you, but what will you do if you need or just really want to move after 5 years? It's good to have mobility as an option in case a kareoke place opens close to you or you get on the bad side of a neighbor or some minor official or connected person. 1 Link to comment Share on other sites More sharing options...
AwesomeLife Posted May 6, 2018 Author Posted May 6, 2018 28 minutes ago, robert k said: Not wishing ill on you, but what will you do if you need or just really want to move after 5 years? It's good to have mobility as an option in case a kareoke place opens close to you or you get on the bad side of a neighbor or some minor official or connected person. I'd simply move; I think from now on all my posts in this thread I will have the following disclaimer: "After renting for a year, I would be willing to spend up to half my 401K to buy/lease a home if it makes financial sense". While I don't predict any major changes to VA disability, anything can happen including a medical breakthrough for PTSD which I have to be financially prepared for. Link to comment Share on other sites More sharing options...
OnMyWay Posted May 6, 2018 Posted May 6, 2018 On 5/2/2018 at 7:37 AM, Old55 said: You are not going to like what I have to say.... Don't spend any of your 401K. Don't do it. Work a few more years save save save including money in that 401K. Have a large nest egg for if things go badly wrong or an exit plan. Have a some money in savings to spend for extra stuff your monthly income will not cover. Ì have to agree with Old on this one. You are only 41 and working. Find a way to build the nest egg for another 10 years. Regarding a 401k withdrawal, those who advise "you can't take it with you" should hold that advice for an older person with more savings. 1 Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted May 6, 2018 Forum Support Posted May 6, 2018 13 hours ago, sonjack2847 said: It may be your opinion but as far as I am concerned it is 150% correct.I have seen a few ladies here left pretty much destitute by partners who have died and left no provision for them to live after.Even if you just pay their SSS it`s something. It doesn't take much planning or effort to provide a small life insurance or something that would provide for a loving partner once you pass. On the other hand if she was a major pain run up some major credit before you go for her to remember you by. Link to comment Share on other sites More sharing options...
robert k Posted May 6, 2018 Posted May 6, 2018 2 hours ago, AwesomeLife said: I'd simply move; I think from now on all my posts in this thread I will have the following disclaimer: "After renting for a year, I would be willing to spend up to half my 401K to buy/lease a home if it makes financial sense". While I don't predict any major changes to VA disability, anything can happen including a medical breakthrough for PTSD which I have to be financially prepared for. I get that you will be renting for a year. The thing is, 5 years down the road you could run into a problem. It's happened to others. You are talking about a long term lease for which you will have to pay whether you live there or not. Rules are about the same as in the US, excepting you will be a foreigner, should you find yourself in court. Make sure you can sub let in the lease, it's extremely unlikely that the lessors lease will allow you to do that, you will need your own lease drawn up. I get the feeling you aren't enjoying my posts so I will refrain from now on. Link to comment Share on other sites More sharing options...
Recommended Posts