Boomers

[Jon Miller]

I lost my last great-grandmother a few weeks ago .

JM

[Hauldren Collider]

Sorry to hear that Jon

How old was she? My great grandmother was dead long before I was born.

[Lorizael]

That sucks. I never knew any of my great grandparents. And my last grandparent died seven years ago. I suspect this doesn't bode well for my longevity.

[Hauldren Collider]

Only one of my grandparents is dead, and she smoked. It's what killed her, actually.

[Jon Miller]

I think she was 99, she had recently (August) been moved from my great-uncle's home to an assisted living home because they could no longer take care of her. I had intended to visit her when I returned to OR next week.

I last saw her at my brother's wedding, over three years ago.

I plan to start seeing my mother more often then once every two years, and my grandparents more often than once every 4-5. Still haven't figured out how I will see my grandparents, but I will probably plan a short vacation to the midwest this summer?

JM

[MRT144]

Term life makes more sense at that age. More bang for the buck.

At their age that very well may be the case, but I like the flexibility of whole life in being able to borrow against it and the steady premium payments over the next 30 years. My horizon is pretty long for my parents because they have good genes and good health for the most part and low stress. I see them getting to their 90s.

[pchang]

At their age that very well may be the case, but I like the flexibility of whole life in being able to borrow against it and the steady premium payments over the next 30 years. My horizon is pretty long for my parents because they have good genes and good health for the most part and low stress. I see them getting to their 90s.

Take term life over whole life and invest the difference in the rates. You will come out ahead except for the following case:
You are at the top taxable bracket
You have already maxed out your tax deferred retirement savings plans
You live another 20+ years
You die before age 100
In that case, you can borrow against the investment gains in the policy an never have to pay it back. Borrowed money is not income and therefore, you can avoid any income taxes on your gains.

[rah]

Yeah, but the investment gains recently have been pretty crappy, and you're limited to borrowing a % of paid premium + investment gains, which doesn't add up to anything substantial for quite a while. I've had a small 50K policy that I've been paying on for over 20 years, and the most I could borrow against it is about 6K.

[MRT144]

Yeah, but the investment gains recently have been pretty crappy, and you're limited to borrowing a % of paid premium + investment gains, which doesn't add up to anything substantial for quite a while. I've had a small 50K policy that I've been paying on for over 20 years, and the most I could borrow against it is about 6K.

Time is on my side for investment gains.

[Hot Mustard]

Ice floes

[Tupac Shakur]

Let's just treat Canada like one big ice floe. Push the Boomers across the border and never let them back.

[Hauldren Collider]

It'd be easier if we put bombs in hurricane shelters in Florida. The retirees are already concentrated there. We can cut off the head of the snake in one stroke during the next hurricane season.

[pchang]

Yeah, but the investment gains recently have been pretty crappy, and you're limited to borrowing a % of paid premium + investment gains, which doesn't add up to anything substantial for quite a while. I've had a small 50K policy that I've been paying on for over 20 years, and the most I could borrow against it is about 6K.

And you situation definitely does not fit the one exception I mentioned.

[The Mad Monk]

I thought this was going to be about kangaroos...

I thought this was going to be about nuclear missle subs, but I got over it.

[Lorizael]

I thought it was going to be about Grace Park. I haven't gotten over the disappointment.