Not sure if this is an appropriate place to ask for advice but here it goes. Without going into much detail, I found out last week that my time here is limited (3 - 6 months).
Basically I want to set up a small scholarship fund for future alumni of the high school I went too. It’s not going to be much, but i guess it makes me feel better. 1. What is the best financial instrument to do this? 2. If I want to fund to endure / sustainable is it a safe bet to pay out ~3% of the fund per year (ie 3k per year out of a 100k fund) or is there a more sophisticated way to approach how it is allocated over time? 3. Lastly, maybe a stupid question but what happens to tax advantage retirement accounts when you pass before retirement age - are additional taxes levied? 4. Generally speaking, Are there any restrictions on how life insurance payouts are used - ie can I just add the payout to the hypothetical scholarship fund?
Thanks for your help/advice.
Submitted October 19, 2022 at 12:00AM by figuringshitout1 https://ift.tt/xciAWa9
