Money is a very personal thing and you need to do what you feel is correct for you and yours, but understand that they already have a fairly close idea of what you have already. Not sure I agree that they may act differently, I feel you raised them right and based on your generous contributions to their children's account over the years, owning 2 homes, etc... they know to expect a fairly generous inheritance. I don't think that knowing the amount is going to make a difference and it is not what I would do, but there is no wrong answer to this question.
We have always shared our net worth and investable assets with our boys since they were in their 20’s. One is a PA and the other finishing up on becoming an electrician and are co-executors of our estate.
They know where our wills and all other relative forms are, also our main password for our password manager to get into all of our accounts ( over 160 right now ). We sort of keep them updated throughout the year, but know the only thing they have to remember is all this is in our SDB, which they both have access to.
And we keep them informed of any major changes such as us taking SS in 3 and 11 years respectively. I’ve seen and heard too many horror stories from people who have been executors and not even knowing where to start when a loved one passes,and don’t want them having to go through it themselves.
I am actually going to buy but not until the first financials come out after the IPO. I expect their stock price will be down quite a bit after 3-6 months once the hype is over.
Figure I’ll put in apx 2% of my investable assets, so just enough to dream without sacrificing too much. Put it in my Roth account and it will sit there the next 20-30 years and if it does real well my boys will be happy!
Hi Dana, A word of advice, those grills are not that good, they are actually pretty good for the gas part,
but the smoker and charcoal not so much. Actually bought a Weber for gas because they will last forever if you take care of it, mine is 10 years old and still going strong.
If you have the room I would get all 3, that’s what I did and it gives you a different option every night!
The rest of the setup sounds great!!
Yes, but before I do that is it ok to post a business name on here?
Unsure of the rules and don't want to be doing something I'm not supposed to. Moderator-- are we allowed to do this?
Like everyone one else here I have been managing our financial affairs on my own, my wife has tried on numerous occasions to assist/ try to understand it, but she just gets too frustrated with it. As others have posted I don't want to pay a high AUM, but I don't want to leave my wife in a tough situation either, should my demise occur (and being older it is more likely). Searched around for about a year and all the AUM's were between .75 and 1% for our portfolio size. Finally through some networking I was able to find a company that charges a flat fee based on your portfolio and it worked out to about .10%, they are fiduciary's,and have been in business for about 20 years now, while we started with them 2 years ago. For that fee, we meet 1 time a year to do a very detailed assessment of our holdings, they do our taxes both state and federal, I can call and meet with them at anytime. They have done Roth conversions, capital gains tax harvesting,asset allocation, discussed estate planning etc,etc, that a financial firm would do. The only thing they don't do is active management of the portfolio, they only do index funds through Fidelity, Vanguard or Schwab, which is all I do anyway- except for some fun money that I use for individual stocks that is about 2% of our portfolio. I have been very happy with their services, and although I would much rather not pay a fee, this way I know my wife has someone that she can trust and that she also is very comfortable with.
Comments
Money is a very personal thing and you need to do what you feel is correct for you and yours, but understand that they already have a fairly close idea of what you have already. Not sure I agree that they may act differently, I feel you raised them right and based on your generous contributions to their children's account over the years, owning 2 homes, etc... they know to expect a fairly generous inheritance. I don't think that knowing the amount is going to make a difference and it is not what I would do, but there is no wrong answer to this question.
Post: Time to share our financial info with children?
Link to comment from June 7, 2026
We have always shared our net worth and investable assets with our boys since they were in their 20’s. One is a PA and the other finishing up on becoming an electrician and are co-executors of our estate. They know where our wills and all other relative forms are, also our main password for our password manager to get into all of our accounts ( over 160 right now ). We sort of keep them updated throughout the year, but know the only thing they have to remember is all this is in our SDB, which they both have access to. And we keep them informed of any major changes such as us taking SS in 3 and 11 years respectively. I’ve seen and heard too many horror stories from people who have been executors and not even knowing where to start when a loved one passes,and don’t want them having to go through it themselves.
Post: Time to share our financial info with children?
Link to comment from June 6, 2026
I am actually going to buy but not until the first financials come out after the IPO. I expect their stock price will be down quite a bit after 3-6 months once the hype is over. Figure I’ll put in apx 2% of my investable assets, so just enough to dream without sacrificing too much. Put it in my Roth account and it will sit there the next 20-30 years and if it does real well my boys will be happy!
Post: SpaceX IPO: Is Margin Optional?
Link to comment from June 4, 2026
Hi Dana, A word of advice, those grills are not that good, they are actually pretty good for the gas part, but the smoker and charcoal not so much. Actually bought a Weber for gas because they will last forever if you take care of it, mine is 10 years old and still going strong. If you have the room I would get all 3, that’s what I did and it gives you a different option every night! The rest of the setup sounds great!!
Post: Retirement Toys
Link to comment from May 5, 2026
Yes, but before I do that is it ok to post a business name on here? Unsure of the rules and don't want to be doing something I'm not supposed to. Moderator-- are we allowed to do this?
Post: Financial Planning
Link to comment from April 13, 2026
Like everyone one else here I have been managing our financial affairs on my own, my wife has tried on numerous occasions to assist/ try to understand it, but she just gets too frustrated with it. As others have posted I don't want to pay a high AUM, but I don't want to leave my wife in a tough situation either, should my demise occur (and being older it is more likely). Searched around for about a year and all the AUM's were between .75 and 1% for our portfolio size. Finally through some networking I was able to find a company that charges a flat fee based on your portfolio and it worked out to about .10%, they are fiduciary's,and have been in business for about 20 years now, while we started with them 2 years ago. For that fee, we meet 1 time a year to do a very detailed assessment of our holdings, they do our taxes both state and federal, I can call and meet with them at anytime. They have done Roth conversions, capital gains tax harvesting,asset allocation, discussed estate planning etc,etc, that a financial firm would do. The only thing they don't do is active management of the portfolio, they only do index funds through Fidelity, Vanguard or Schwab, which is all I do anyway- except for some fun money that I use for individual stocks that is about 2% of our portfolio. I have been very happy with their services, and although I would much rather not pay a fee, this way I know my wife has someone that she can trust and that she also is very comfortable with.
Post: Financial Planning
Link to comment from April 13, 2026