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Reply to "Parents out of money at 75"
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[quote=Anonymous]One lesson learned is that - - everyone should try and become minimalist in their 60, - pay attention to their health above all else, - consolidate their wealth so that it is easy to manage, - don't leave a hoard at home for kids to manage after you; don't leave behind tangled paperwork for the kids to manage; divide wealth equally if you want your children to like each other even after your death; plan for your retirement so that you do not run out of money, move in - smaller, more inexpensive digs or with your children to not have to run a household. Children - - when buying homes can you think how it can accomodate your parents or ILs in their old age? [/quote]
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