My wife and I are in our 76yrs of age (sommme weirdos say Young". If we were to cash all assets. including our home and the death benefits from my life insurance policy, and investments, we would have about $900,000 to do something with. Well, I'm somewhat confident my wife will outlive me. She is a wonderful wife. QUESTION/ wOULD SHE FEEL MORE LOVED IF I TOOK HER TO PARIS, ROME, elsewhere and spent most of that $900,000, she just might SO BE IT
If you are 76, have close to a mil, spend it and enjoy what is left, if you leave some for family fine, but why hold on to it?
Sounds wonderful. I hope you have a fabulous time. And when or if you come home I hope you have someplace to live and some income left to live on. And should your wife outlive you, I hope she has enough income to pay expenses. And I also hope that age 76 IS young, because I may be that someday:-)). Happy, Healthy New YearBirgit
If you are both approximately 76 and in good health you may live a lot longer.Sure a trip to Paris might be nice and if that's what you want to do, by all means do it.But, don't go on a huge spending trip and regret it later. My DH's grandparents are still alive, healthy and in their 90s. We are both positive they will live well into their 100s.e
Figure out how much money you & your wife could live off for 15 years in a conservative lifestyle ,with these funds kept in something safe & liquid like a money- market fund.Subtract that amount from your $900,000.The balance you two can spend.Plan on spending the bigger portion within the next 5 years on travel while your health is good enough to tolerate travel without exhausting both of you.The older you get,the less travel will appeal to you. If you have kids,unless they are handicapped physically or mentally to the point that they need your financial help,they should,at this stage in their life, be responsible for paying their own way through life.My father had come up to visit with my wife & I.It was a beautiful mild summer night & he went for a walk with me through the neighborhood. We had a nice father/son talk about many things.I grew up in a lower middle-class family.My parents went without alot in older to provide the comforts to thier children that they did not have when they were younger.Our family LBOM.My dad started talking about the savings that he had accumulated.He would be leaving all us kids a nice(relative) amount of money when he left this world.My mother had passed away years ago & he had remarried.I told my father that he sacrificed his whole life for his children.We are all grown up now with families of our own.I said that it is time for him to start to think of himself & his wife first.I told my dad that I hope that he will live for many more years, & if you want to make me happy,take whatever you were going to leave to me & spend it now on yourselves.When you rent a hotel room,instead of getting the least expensive room,upgrade one level.If you take a cruise,get an outside room with a balcony.Get a new car.When you leave this earth & all your bills are payed,I hope you will still owe a penny to the undertaker.I wish that we had this talk long before we did.My dad & step-mother died less than 2 years later.
My wife and I are in our 76yrs of age ... QUESTION/ wOULD SHE FEEL MORE LOVED IF I TOOK HER TO PARIS, ROME, elsewhere and spent most of that $900,000, she just might SO BE IT My Grandmother will be 99 this March. She lives in her own home, has enough money to pay for it's upkeep, to eat reasonably well, and to pay a woman to clean and 'do for' her part time. I think your wife would certainly feel loved if you were to plan for her to be similarly comfortable some 23 years in the future. However, I think the most important thing is to take our comments into consideration, then TALK to your wife about it. She may feel it would be the culmination of a life-long dream, and want to fly away with you tomorrow. Or she may be incredibly touched that you want to, even though she has no intention of doing so.Best to you,Womanontheverge
You could take 2 or 3 terrific trips and hardly make a dent in what you have!A week's cruise might set you back $3,000 or so. You could go to Paris for a week and to Rome for a week and it would be difficult to spend more than $10,000.There'd be plenty left. Enjoy yourself, it's later than you think!I'll bet you were frugal all your life to save up $900K. You're not going to splurge it on diamonds and fur coats. You can have lots of fun together and still die rich.Go for it.Trini
Enjoy life and do what ever you want with your money. A trip to Paris is not a extravagance. I remember a few years back seeing an elderly couple in an airport with tee-shirts that said "I am spending my childrens inheritance". Sounds good to me!
QUESTION/ wOULD SHE FEEL MORE LOVED IF I TOOK HER TO PARIS, ROME, elsewhere and spent most of that $900,000, she just might SO BE IT There are many ways to see Europe on extended vacations for less than one-half of one percent of you nest egg. Travel during the off season. At your age, you might want to look at tour groups. If you prefer to spend an extended period of time in Europe, then rent a house or apartment during the off season. You don't need to spend a ton of money to enjoy traveling the world. It's easy and cheap.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |