Jonathan, your strength and positive attitude continue to amaze me in light of your fate. Thank you for your thoughts, insights and sharing your planing at, I’m sure, a difficult time that many of use will not experience. As you prepare your estate, rather than willing a portion of your Roth IRAs to your grandchildren, have you considered super funding a 529 Plan for them (if you haven’t done this already)? The overfunding could not only fund their education needs (and possibly start their Roth IRAs), leftover funds could finance the education of future generations. Your education legacy. I’m currently exploring Dynasty 529 Plans and Trusts as a possibility for my 3 grandsons. As a token legacy, since my grandsons live in Maine, it is cheap to purchase a lifetime fishing (or hunting or trapping) license if purchased before age 5. 60 years from now when my grandson is fishing with his grandchild, I hope he’ll fondly remember, ‘my grandpa bought me my fishing license and I bought yours’. I’m not only working on memories with them, I’m also working on legacies (some of them rather quaint). All the best to you and your family. You’ll remain in our thoughts and prayers.
Like most of your articles, this hit home. I'm in the same stage of my Life/Cycle. Although I usually only ride on rail to trails, I've had a couple of my own bike accidents. Dumped the bike on a curve when I slid on a little mud in an almost dried up mud puddle sustaining some road rash on my arm and leg, a cracked helmet and a bruised ego. The worst was last year when I hit my face on a pole 9 miles in to a 3 day, 150 mile ride from Pittsburgh to Cumberland, MD on the GAP trail. The bike was fine, The helmet was fine. I spent the night in a hospital and several evenings in a dentist's chair.
For most of my time investing, I have spent too much time in the weeds and focusing on the what instead of the why. I spent so much time trying to reach some financial goal. On my bike, when I focused on the pole, I hit the pole and not my goal. Lately, I spend my time trying to simplify our investments so I can spend my time doing what I want (I still have to figure out what exactly that is).
The wisdom I have gained over the years is that mindset may be the most important component of any success you achieve in life. Investing is becoming more about philosophy and mindset. And so is biking! Next month, I'm going to finish that bike trip from where I left off. I want to head into retirement with the same mindset. I want to be able to recover from any set back and still achieve my goals.
Comments
Jonathan, your strength and positive attitude continue to amaze me in light of your fate. Thank you for your thoughts, insights and sharing your planing at, I’m sure, a difficult time that many of use will not experience. As you prepare your estate, rather than willing a portion of your Roth IRAs to your grandchildren, have you considered super funding a 529 Plan for them (if you haven’t done this already)? The overfunding could not only fund their education needs (and possibly start their Roth IRAs), leftover funds could finance the education of future generations. Your education legacy. I’m currently exploring Dynasty 529 Plans and Trusts as a possibility for my 3 grandsons. As a token legacy, since my grandsons live in Maine, it is cheap to purchase a lifetime fishing (or hunting or trapping) license if purchased before age 5. 60 years from now when my grandson is fishing with his grandchild, I hope he’ll fondly remember, ‘my grandpa bought me my fishing license and I bought yours’. I’m not only working on memories with them, I’m also working on legacies (some of them rather quaint). All the best to you and your family. You’ll remain in our thoughts and prayers.
Post: A Time to Give
Link to comment from August 24, 2024
Like most of your articles, this hit home. I'm in the same stage of my Life/Cycle. Although I usually only ride on rail to trails, I've had a couple of my own bike accidents. Dumped the bike on a curve when I slid on a little mud in an almost dried up mud puddle sustaining some road rash on my arm and leg, a cracked helmet and a bruised ego. The worst was last year when I hit my face on a pole 9 miles in to a 3 day, 150 mile ride from Pittsburgh to Cumberland, MD on the GAP trail. The bike was fine, The helmet was fine. I spent the night in a hospital and several evenings in a dentist's chair. For most of my time investing, I have spent too much time in the weeds and focusing on the what instead of the why. I spent so much time trying to reach some financial goal. On my bike, when I focused on the pole, I hit the pole and not my goal. Lately, I spend my time trying to simplify our investments so I can spend my time doing what I want (I still have to figure out what exactly that is). The wisdom I have gained over the years is that mindset may be the most important component of any success you achieve in life. Investing is becoming more about philosophy and mindset. And so is biking! Next month, I'm going to finish that bike trip from where I left off. I want to head into retirement with the same mindset. I want to be able to recover from any set back and still achieve my goals.
Post: Life Cycle
Link to comment from June 6, 2021