Yes. Trusts, basically. And affording good attorneys. But if your wife and/or kids are pieces of shit who turn against you, even that can fail.
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I wonder who taught them to act like that?
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My response would be: How the fuck are you ____ years old and you don’t own the house outright yet?
shit man I’m kicking myself now for going for a 15-year when I refi’d at 2.25%, I should have pushed that shit out to like 99 years
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Yeah home equity is actually for suckers with how favorable the 30 year fixed rate mortgage is for borrowers. You lock in a low rate on a lot of money over a long time period you won period end of story.
Not if you get scammed by Nigerian princes
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Yeah you can definitely do dumb shit with the money you borrowed. Invest it in literally anything else (normal you heathens don’t buy 0day options or NFT’s) though and you’ll turn a pretty meaningful profit.
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I know the answer to that one, it’s lots of very poor financial decisions over the years.
Unfortunately my father never invested any money in the markets in a retirement account or otherwise until he was somewhere in the 62-64 years old range. Then he started maxing the contributions to get enough in there to try to retire at 70.
The multiple refis over the years were basically to reduce the monthly payment to make up for bad financial decisions that squeezed the finances harder than they could manage.
There’s a good reason I’m so debt-averse in my personal finances and in my business analysis.
CW,
You’re a great son man. It probably doesn’t even occur to you but lots of sons (myself included) would not be lifting a finger in your position.
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I was going to say the same. It’s very commendable how much time, effort, and concern you are putting in to fixing this shit show. You’re parents probably won’t say it, but they are lucky to have you helping them.
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Thanks guys, they’re grateful I’m here, although they haven’t said how lucky they are I’m here. A lot of people have been telling me that and you’re right riverman, it didn’t occur to me. For all the faults of my father, mainly his regressive political views and his poor financial decisions and misdirected temper, he was always there for me in the most important ways.
Car broke down, 2 hours away, doesn’t matter he’ll be there in 2 hours and 5 minutes. Stuck in traffic coming back from a job interview in NYC, going to have to watch a Flyers playoff game in a Buffalo Wild Wings alone? No problem, it’s 30 minutes away I’ll be there in 40. Help with a move cause you can’t afford movers? No problem, he’s in.
Between that and realizing what a disgrace nursing homes tend to be for non-wealthy seniors, and not being in a position to be able to afford to help them or being willing to see them become homeless, it’s really important to do everything possible to protect the last thing standing between them and a really gross rest of their lives.
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And your story has helped people here.
I sat down with my mom today and talked about her finances. She’s fine cognitively right now, and in a comfortable situation within her means. Her mom had pretty bad dementia as she got into her 80’s, though, so steps may be necessary down the road.
I had a broad general idea about her finances, but today I asked about specific accounts and balances. I got a clearer picture of what she has going out and coming in, and what my sister and I would need to do if she loses her decision-making capacity.
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I think this is a powerful perspective that is getting harder and harder for folks since Trump came on the scene. One of the biggest reasons I want him to lose and fade away.
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Glad to hear that, the more I hear about how this all went down (I guess I haven’t had time to share the full story upon sitting him down and going through it slowly), the more I think that if elderly parents are open to it, it’s best to give their adult kids some power before it even gets close to something like this happening. Their generation is very different from ours about hanging up on people because they always considered it rude, so someone on the phone lying to them and scaring them can go on for a while.
I guess for me in this situation it’s a difference in having respect for him/his views (gone) and still caring about his well being and wanting to take care of him the way he was there for me growing up.
I have the realization that the next time I have this conversation, I will be on the receiving end. I don’t care what you say boy, Tik-tok says we are all in Bill Gates will. I’ve got millions coming. MILLIONS.
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Got yelled at tonight for missing the change of address on a couple things after moving to California. We were “homeless” for a couple months during the WSOP and forwarded mail to my parents then collected it all. Apparently I missed 1 or 2 accounts when updating everything and stuff still came to him, so he put a stop on anything not addressed to him or my mom. So i guess some of my mail is getting destroyed.
I just said ok and thought to myself that I’ll have to fix it but he yelled at me “You’ve had two months, you should have had this done by now.”
Somehow managed not to say what I was thinking in response to that.
There is nothing like dropping your whole life for a week to fly across the country to spend like 50+ hours cleaning up your parents mess for them only to be yelled at for some trivial unrelated bullshit to make you feel warm and fuzzy.
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The cord is cut! Comcast has fucked off!
Feels good, man. One funny thing from today, YouTube TV made it really easy to watch both MNF games at the same time, but what was weird is that sometimes the Bills broadcast would show what was happening in the Bengals game in an in-game window, and that window was ahead of the actual broadcast coming in. I’m not surprised by the broadcast being behind (when still on Comcast, Seahawks games on Fox were often behind what the ESPN app’s play-by-play would show), but it was kind of odd seeing one broadcast ahead of another.
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Yah you are going to have to get used to that. Also the streams in general are very delayed so if you have a habit of say watching fantasy football live scoring you’ll probably want to not do that as you’ll get spoilered sometimes.
YouTube TV is expensive, but the service is great as a full cable replacement.
I think I left cable about 20 years ago? Never looked back.
