10-17-2020, 08:17 PM
> Another great post.
Hey thanks. It's nice to be here as well. I was on another money forum, but it died out.
> I looked at annuities and thought they were a scam.
The only reason to look at annuities is if you truly don't want to manage a dividend portfolio at all. But the big problem with annuities is that the payouts end when you die. Your portfolio will live on.
> Anyway, I doubt my net worth will ever be more than about half your example
It seems like a long road to me as well, but when I plug the numbers into an investment calculator for 15 years out, it looks rosy. For me, things will really pick up when the child support payments end.
> I could live happy off my pensions I receive within a few years
Sweet!
> I have a daughter I'm not so sure is physically capable of giving me natural grandchildren.
I hope she chooses to adopt.
> I doubt she will ever have more than a two year degree but I can't be sure. She isn't great with finances.
My daughter is only 15 but I think she's in a similar boat.
> If I end up a widower I would like to buy a property in the northland where I can fish. That's my longtime dream.
That sounds fun. I'm a board gamer, so I hope my retirement is filled with conventions and game nights.
> My current plans are to put the next property in my daughter's name so I can get the five year gift done.
Hopefully that works out.
****
For those of you who don't have any heirs, you could still save your money from going to the nursing home by a similar technique as I described but leave the dividends to the charities you like.
Hey thanks. It's nice to be here as well. I was on another money forum, but it died out.
> I looked at annuities and thought they were a scam.
The only reason to look at annuities is if you truly don't want to manage a dividend portfolio at all. But the big problem with annuities is that the payouts end when you die. Your portfolio will live on.
> Anyway, I doubt my net worth will ever be more than about half your example
It seems like a long road to me as well, but when I plug the numbers into an investment calculator for 15 years out, it looks rosy. For me, things will really pick up when the child support payments end.
> I could live happy off my pensions I receive within a few years
Sweet!
> I have a daughter I'm not so sure is physically capable of giving me natural grandchildren.
I hope she chooses to adopt.
> I doubt she will ever have more than a two year degree but I can't be sure. She isn't great with finances.
My daughter is only 15 but I think she's in a similar boat.
> If I end up a widower I would like to buy a property in the northland where I can fish. That's my longtime dream.
That sounds fun. I'm a board gamer, so I hope my retirement is filled with conventions and game nights.
> My current plans are to put the next property in my daughter's name so I can get the five year gift done.
Hopefully that works out.
****
For those of you who don't have any heirs, you could still save your money from going to the nursing home by a similar technique as I described but leave the dividends to the charities you like.