Wow hard to imagine being that old and that bad with money .
Wow hard to imagine being that old and that bad with money .
We have named her in our will along with a couple other people and several organizations. But, I have not mentioned that to her because it is highly unlikely she will see any of our money. And it worries me that she would count on some of that money. She blew through two inheritances and then told me she should get her brother’s share because it will just go to his children anyway when she dies. I was so shocked to hear this I said nothing.
I should also add that I see nothing wrong with having a second home that is a vacation home as long as one acknowledges that it eats money. To consider a vacation home that never produces income as an investment is silly, but part of her problem is she’s from the coast where real estate always appreciates even if you are an owner-idiot, while here in flyover country things don’t appreciate much.
Having lived in many Midwest states I know what you mean. Our house in Wichita was bought brand new in 1994 for 84k. Only worth 134k now. Where we live now house prices are skyrocketing. A friend of mine has a parent that is 88 and terrible with money.
A house, or land, or other real estate would not be "liquid".
Marketable securities or mutual funds in a 401(k) would be "liquid".
Next, what is money? Cash is money. Marketable securities or mutual funds in a 401(k) are not money.
Time is money
actually, I think it was jp who used the word “liquidated” about the 401k? I’d say anything that has to be liquidated before it can be used is not “liquid”.
G, as much as you use your cabin it’s well worth the money. My FIL owned one a half hour from where we lived and we rarely used it. He wanted to give it to us but we declined even though it was right on a lake. Now we prefer traveling to different places.
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