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Joined 1 year ago
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Cake day: August 15th, 2024

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  • It is stupid to die with money in the bank. You don’t know enough to plan this out exactly though, so the real goal is minimize the money left, but don’t run out before you die.

    The first question is what is your situation like.

    How is your retirement savings plans? 6 figures at 25 is a very good amount of savings, 6 figures at 60 is a terrible retirement account.

    What is your education like - this will buy a good college degree, which tends to pay off very well in the long run for young people. (but only if you pick a good degree and study)

    Make sure you have a good amount of emergency savings. 6 months living expenses is the general rule of thumb. You never know when something bad will happen in life - but bad things happen to everyone and savings it a useful way to ride it out.

    Once the above is done:

    Will a better living situation improve your life more than something else? You could go on a cruise every year with that money instead (I picked something wasteful that some people like, others hate). You could buy a really nice piano with that money. You could do lots of other things. Buying a better flat is one good option, but it isn’t right for everyone. There is no universal right answer here, only right for you, so you have to decide (and understand sometimes you will be wrong)









  • Your kids should inheirit the desk your great granpa mades, those plates that have been in the family for years. Your lost $40 should be used to pay the taxi driver who brings you to the hospital where you die.

    give them love now. Teach them to care for thenselves. They should expect to get nothing. Spend your money yourself for what makes you happy.

    Don’t give the bills - pre-pay your funeral. (Careful - there are a lot of scams here).









  • i assume you mean as in your increased earnings will no longer pay the expense. The never too late crowd is thinking of school as a pure ‘fun’ activity which is a valid way to look at things but if you don’t like school isn’t for you and that is how I’m choosing to interprut your question.

    the question is never answerable unil after the fact: I can calculate after you are dead. However I went to school with someone who went right to college, a mistake because he died in an accident at 21. Other people get mental decline in older years and so it is too late when they are no longer able to learn.

    you can retire at any age when you have enough savings, but some people find it boring and will continue to work anyway - if this is you it can be worth it even if ecconomics don’t work out if you get a job you like (or perhaps one that by not wearing on the body you can do longer)

    many jobs pay for your schooling. if this applies the only quesntion is will you have to remain at the job longer than you want to afterwards.

    if paying for your own schooling you can calculate the expected earnings after and compare to the cost to make a decision.