I just met with an 83 year old widow and her 50-something daughter. I explain how much tax she owes and why - her investments brought in about 100K in taxable dividends and interest. Then I tell her that she'll need to take out about 33K from her trust account this year. "What am I going to do with that?" she asked. Knowing this woman has close to 3 million in assets, I reply "Spend it, donate it, invest it - Whatever makes you happy." She looked at me like I had said something insane.
If frugal living and hard work get you to the point you have more than you need, why not have fun with it and give to those in need. I don't get what the problem is. She'll just leave it all to her daughter who will do the same - just sit on the money, not enjoy it, not build it, not donate it to worthy causes. She has no heirs. I don't understand that at all.
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1 comment:
yeah that's flippin' crazy!! I could think of some ways to use that!! I could buy & sell a couple of CVS' with 33 grand! :)
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