Simplifying one's financial life

[Tybee]

My DAF is not automated at all. I send it money, then it grows in my DAF (I don't own the money anymore) and then I decide who and what to give the money to. Or it can all accumulate in there. When I die, I currently have it going to my college and another college I support. But I could also keep it going with my daughter=in=law at the helm, since she is like me and likes to give money to good causes. But this way, it's already out of my estate, and it's going to whom I want it to, and as it throws off interest and grows, I make grants to whatever I choose, whenever I choose.

It's not a ton, since I figure I will need money for long term care, God help me.

[iris lilies]

I do not want or expect to have any sort of legacy asset after I die (disregarding DH…he will do with my assets what he wishes.) In my ideal world, I die, my assets are distributed, and poof! I am gone as are any lingering financial riches. They they will be distributed to others.

I don’t need a Donor Advised Fund for assets to grow because they are growing in my IRA and in regular brokerages accounts.

[JackieLN]

I watch what I spend my money on, do not buy if I cannot afford it thinking it over. A bill comes in the mail, gets paid on the spot sent out the next day. I have watched so many guys get tools and toolboxes repoed because they owed money on them missing payments. These were with the tool truck brands. I told them they should of thought it over first before the purchase was done. I had one tool truck dealer I dealt with, Snap On try to get me buy a new toolbox and I was into it the mechanic business for 2 years at the time. Looked it over and saw I could not afford the payments at the time. Told him no and I was not the only one he did it to. He got reported and lost his franchise over it

[Tybee]

I do not want or expect to have any sort of legacy asset after I die (disregarding DH…he will do with my assets what he wishes.) In my ideal world, I die, my assets are distributed, and poof! I am gone as are any lingering financial riches. They they will be distributed to others.

I don’t need a Donor Advised Fund for assets to grow because they are growing in my IRA and in regular brokerages accounts.

That's fine, it sounds like you are happy with your decisions and know that your money will go where you want it to, which is great! I think I started mine partly because the college kept hounding people and this was a way to deal with it, to let them know they would get something later.

It lets me give money away guilt free, not feeling I am taking it from my heirs. I give to things to honor my folks, like Marine Corps charities and libraries, and parks we enjoyed when we were young, things that made them happy, and now things that make my grandchildren happy, like programs they are in, their school PTO, stuff like that. It's not a lot but it's nice to know I can give up to a certain figure and then I have to stop and let it replenish through growth. So I love it, but it's not for everyone!

[littlebittybobby]

okay---two things. What IL really needsta do is donate $35k to the non-profit moo-vvveee theater in that littlebittytown waaaaay up north in the middle0o-nowhere. But yeah---they need a new projector, ta keep going. Yup. Or so they say. They'd prolly put a plaque on the wall with your name on it, if you did. Item two: I'd suggest building a nice cozy little 4-drawer mausoleum(see photo) up in that little town, near the old home. You'd have a drawer each for you & DH, and a couple extra drawers ta put ALLLL your mooolah in, so ya can take it with ya. Yup. Ahhh-summm & A-may-zeen. Hope that helps you some. Thankk mee.2024-12-14 (2).jpg