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Old 06-09-2014, 08:05 AM
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Originally Posted by SantaClaus View Post
I like the classic formulation regarding inheritance, "Leave your kids enough that the can do anything! but not so much that they can do nothing!" Wish I knew the attribution. Like I said above, unless we live far longer than expected (given current health and family histories) then we will be leaving a little too much for their own good. Even if we linger into our mid- to late-90s then we will be leaving them our home and possessions, which will liquidate to no small sum. Of course, something catastrophic could happen to deplete our funds and all we leave the kids is the junk we couldn't pawn and a fat reverse mortgage!


It's all guesswork when it comes to our health.

Went to a reverse mortgage seminar and I came away thinking I could never do that to my son. It just another way to spend more money, and leave your kids less. I'm sure in some cases, it may be a necessary evil.

A friend of mine father is 79, Took out a reverse mortgage for 100K and spent it in two years on stupid stuff. IMHO

He looks good, smells good, and is broke, comes to my mind.
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