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Anon calls in for financial advice
(sh.itjust.works)
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this post was submitted on 25 Mar 2025
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Isn't dying poor a good thing? I don't want to live poor, but you can't take it with you. I'd ideally spend my last dollar right before taking my last breath.
If you're unmarried and have no descendants sure. Although you're kind of screwing them over, these days, you dying is the only way your kids are ever going to be able to buy a house.
With inheritance taxes in the west not even then.
I would love to have inheritance tax as something to worry about.
It would mean I have millions to leave my family.
Unless you are dying with millions, inheritance tax is nothing.
Exactly. I forget the limit, but it's something north of $10M before it gets taxed in the US. Not sure about other western countries.
At least in the US inheritance tax really isn't a thing. It's only a couple of states that do it, and for federal taxes the estate has to be very large. In 2025 the exemption is 13.99 million per individual from any estate taxes. I certainly have never had a family member with an estate anywhere near that size
$13,990,000 in 2025, doubled if you have a spouse (or deceased spouse).
You can inherit a fair amount without paying inheritance tax.
at least not without preparation, it's insane that you have to figure out inheritance in advance or your descendants get screwed. If you set things up properly then here you can inherit a primary residence tax free, but if you don't set things up then you're just shafted.
You're really not. You can do zero planning and as long as the total amount is <$14M, there are no taxes due.
One big difference, however, is pretax investments (IRA and 401K in the US). Sell or convert to Roth before you die and it won't be an issue at all. If everything is in regular taxable accounts, the beneficiaries even get a step up in basis, so they will only owe cap gains on growth after your death.
Any third rate tax person could figure that out.
The problem is when you spend your last dollar but still are breathing.
The goal would be to spend my last dollar prior to ending up in a hospital where I die and the medical bills go poof.
Problem is, that you normally don't know how long you'll live and cannot plan accordingly.
I know when I'm going to die, because I'm an independent free thinker. I refuse to face my death on anyone's terms but my own. I intend to live a rich and fulfilling life, watch my family grow, and then end it at a time of my own choosing, after giving all of my grandkids the tools they need to go on without me.
If I died to any means but suicide, I wouldn't think it fair. You can't fire me, I quit. It's my life and I'm going to be in control until the last second.
You goober, even if you're planning on offing yourself you can still die randomly before that.
that literally wouldn't matter to them, if OP responds i would bet you a lot of a fucking money they would simply say "ok and?" and then leave.
Big brain comment right here. Did you write that before or after seeing OP did that? Did you write it before or after seeing that I told someone I used the term goober because I was keeping it light hearted?
That's true, but irrelevant. We're talking about managing retirement funds. I'm not going to live longer than my retirement funds last. Dying earlier doesn't change that.
And if I did die of natural causes, it would be a tragedy. I only want to die by my own hand, I don't want chance to take my death from me.
The audacity to use the word goober as an insult in a comment this stupid is baffling.
Of course you're right. Obviously.
Did you not get the point?
I'm using goober specifically because it's not insulting. It's light hearted.
Inheritence and/or charity