ntp07 posted.."I don't want to leave money behind to those who will squander them, and there are some charities that I would like to give and know that it will be put to good use. So parents and grandparents out there how much are you obligated to give to family. I do not have children therefore I don't know how make this judgement. "Hopefully you will have many years left to consider all the alternatives.Ignoring the insurance issue for the moment, your 150K at 29, will hopefully grow and at 11% with just $2,000 invest in a Roth or other retirement savings, you could be looking at $6.5 million in 35 years.As your net worth continues to climb, you will have many more options. You could set up a foundation now with as little as $1 million - some people are doing it with less. The foundation could give 1 year scholarships to HS graduates from your home town who go to your alma mater. It could be yearly grants to schools who research something you value.As a parent and grandparent, we will be leaving money to our four children as well a 1/4 of our assets to the church we belong. We have set up a trust which will dole out the inheritance at 3 ages, 23,30, and 35 to our children.We don't care what they spend it on and our hope is that at the age of 30 and 35, they will not squander it.I suggest that you begin reading books on estate planning, charity giving, and foundations.Good Luck with your future investments.BGP
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