No. of Recommendations: 0
I'm hoping that this may be board for this question! I'm 33 and starting to make plans for retirement. I'm an only child and think that when my parents pass (I hope that that day will be at least 20 years from now but you can never know about the future!) I'll be given some assets. My Dad is a very practical kind of guy and I want to talk to him about this. BUT (and this is so bothersome to me) this seems like such a uncomfortable conversation. I don't like the idea of talking even hypothetically about their death. I do though really want to learn everything I can in planning for my future. If anyone has some thought on this I'd love to hear it!

I never talked with my parents about this kind of thing. Even when my dad got older (he died when he was 86) and he began to talk about the "big bucks" we kids would get, neither he nor I (nor any of the other "kids," so far as I know) ever actually talked about specific amounts. I spoke to him in general terms about preparing a will, etc., but there was never anything about specific dollar amounts. When he did die, he had a trust that received most of the money; my sister was the executor (or executrix). He also left an IRA that was divided among the "kids."

I always planned my own retirement saving while counting zero from that quarter. Eventually, the "big bucks" came to us "kids," to be divided equally, under the terms of the will, and the only dollar amount that was mentioned in the will was in the proviso that anyone who took issue with any of the terms of the will would instead receive the amount of $1.

Good luck investing, save your own money, and don't count your chickens before they hatch.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.