So my grandma has 3 grandchildren. She said each of us will get 1/3 of her money that's on her bank account when she's gone. I'm hopeful she'll be around for another 20 years. That money's purchasing power will be much lower then. Is there a reasonable way to discuss this and do some action now? She's very old school, doesn't even know what inflation is and I'm doubtful she'd let us explain that to her. How to even start a discussion on such topic?
pull down to refresh
11 sats \ 0 replies \ @DarthCoin 24 Sep 2023
Don't desire something that is NOT yours. That is NOT good.
It doesn't matter if your grandma could give you the money.
Keep that desire inside you or better forget it.
For more you will want those money, more troubles you will have.
Yes, those money can go puff, but that doesn't matter.
Important is that you still have a grandma. Forget about those money in a bank. Life will return you more later if you control your ego.
Now you have the opportunity to start building your own retirement with money that can't be confiscated - Bitcoin.
reply
0 sats \ 0 replies \ @carlosfandango 24 Sep 2023
Depends on the country.
The best way to start the conversation would be with a discussion around applicable death duties (monies payable upon death). No elderly person wants their hard earned money to go to the government. Inflation, rising prices, expanding monetary policy etc are a really hard sell to the elderly - they still remember buying their house for the price of a car etc and don’t understand why we can’t these days. Just IMHO.
With regard to inheritance; perhaps some money could be drip fed out while she is still alive and all she has to do is hang on for a set number of years to avoid the inheritance tax.
reply