Hell Reddit.
I cruise Reddit often and have absorbed a lot of good information from it so I wanted to reach out and get input on my situation.
About me: 54 years old, Married, 3 kids early 20's employed or on their way, $5M invested, zero debt, income outside my investments is around $300k
So I have been thinking about how to constructively grow and use the hard earned money my wife and I have been able to compile. I am currently invested with a long term horizon and try to keep my hands off gains and dividends so they can grow over time using the power of compound interest.
I am thinking I might want to establish a very long term horizon where the investment basically just keeps going after I die, and my kids and their families get the benefit from it down the road. My vision is an investment structure that goes on for decades (and maybe generations) and provides payouts along the way for things like grand-kids education and maybe even regular annual payouts like dividends but with the goal that the fund would continue to grow forever, providing benefits to future family members.
The conventional wisdom is not to over-control your estate assets or how it is used by your heirs. I understand that but I also think there could be a way to keep it pretty simple and still give a lot of unencumbered benefit to family members and allow the asset to continue to grow.
I would appreciate any thoughts, input or ideas you have.
Thanks in advance.
Submitted February 26, 2017 at 03:39PM by longtermpapa http://ift.tt/2l0DeeR
