Good idea if you're rich. Vast majority of Americans need to save more, not less

Apr 15, 2024
3:01:57pm

runnincoug Intervention Needed

Best gift you can give your kids is that they don't have to provide for you in retirement.

But sure, if you're part of the top 5% with enough saved for retirement, than I agree with the concept completely.

USAFacts

Nearly half of American households have no retirement savings

How do your savings compare?

https://usafacts.org/data-projects/retirement-savings

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runnincoug

Bio page: runnincoug
Joined: May 26, 2011
Last login: May 19, 2024
Total posts: 33,644 (2,571 FO)

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Messages

Author

Time

I'm curious to know everyone's thoughts on the "Die With Zero" retirement plan.

Jeff Spicoli

Apr 15, 2:53pm

I want to leave my kids something

TADOW

Apr 15, 2:55pm

Leave them a legacy of faith.

Y-Zag

Apr 15, 2:56pm

But also money.

brj8

Apr 15, 3:03pm

“Here’s a truckload of Faith, kids — now take that to the bank!”

Zach Morris

Apr 15, 3:13pm

I like what he says about helping more now and leaving less for later

RC Vikings

Apr 15, 2:59pm

Is it though? How helpful is a new washer dryer? Some struggle is good.

Coach's Dad

Apr 15, 3:24pm

I agree a little struggle is good but buying my son and his wife a new washer

RC Vikings

Apr 15, 3:28pm

Sure there’s a balance. What about buying them a used washer/dryer? When I was

Coach's Dad

Apr 15, 3:34pm

My time is worth a lot more than I would save buying used, I don't want to go

RC Vikings

Apr 15, 3:39pm

All those people holding signs at intersections just outlived their retirements?

Cougar Junkie

Apr 15, 2:55pm

I wish my parents had. My 4 sisters have split into to teams and I am

Y-Zag

Apr 15, 2:55pm

How does the plan even work? Do you off yourself when your money runs out?

darkcoug

Apr 15, 2:56pm

He talks about using annuities as a vehicle to hold you through

RC Vikings

Apr 15, 3:02pm

I just want to go on a very long hike, maybe a little rock climbing. TNT knows -

Q-grr

Apr 15, 7:58pm

My parents when they passed had a millon

BYU Grounds

Apr 15, 2:56pm

What a waste. Too bad they didn’t enjoy using it all.

kotacoug

Apr 15, 3:09pm

are you serious about it being a waste?

Fightgar

Apr 15, 3:12pm

The idea of leaving a million dollars to your kids is a waste..

kotacoug

Apr 15, 3:41pm

I don't think he said that his parents were frugal, did he?

Fightgar

Apr 15, 9:11pm

It wasn't a waste, they were depression era kids, it was security to them. Half of it was their house.

BYU Grounds

Apr 15, 4:07pm

They had a lot of peace of mind. That can be huge.

Q-grr

Apr 15, 8:00pm

I’m up for the Midsommar retirement plan

Elrond Hubbard

Apr 15, 2:59pm

RE: I’m up for the Midsommar retirement plan

Jeff Spicoli

Apr 15, 3:02pm

Good idea if you're rich. Vast majority of Americans need to save more, not less

runnincoug

Apr 15, 3:01pm

<< Deleted >>

gopman

Apr 15, 3:02pm

Does that plan mean you're funding someone's pet charities?

2FarGone

Apr 15, 3:03pm

It’s smart, but give your kids their inheritance before they’re 40. Too many

valleus

Apr 15, 3:07pm

So if they spend it earlier what replaces that nursing home and health care fund

DiamondMo

Apr 15, 3:22pm

I plan on dying with zero in cash/liquid investments. I will leave them real

cougarim

Apr 15, 3:08pm

Are you an extreme saver? Do you ever splurge on your hobbies? Answer those 2

homegrown

Apr 15, 3:08pm

It got me thinking and did decide I should pass down more money sooner rather

Trent

Apr 15, 3:20pm

Don't like it.

BlueFever

Apr 15, 3:22pm

The concept is good. The guy that is the biggest promotor of the idea is lame.

kccougar

Apr 15, 3:26pm

yeah, his examples were weird, like taking his whole family to a private island

runnincoug

Apr 15, 4:17pm

I wish my parents followed that plan.

SeasideJo

Apr 15, 4:34pm

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