Do your parents/partner know about your investments/debts ?
How will they know about your finances in case anything unfortunate (god forbid) happens to you ?
BiryaniEnthu
Stealth
7 months ago
I'm thinking of a shared folder on all these. Death seems lurking closer now
GrimBeard75
Stealth
7 months ago
Objects is the mirror are closed than you think
I take risk like a retard and I trust nobody's advice on finances other than my own research.
Parents know I'm smart, I save alot and whatever I invest in is green. Thats all they wanna know honestly.
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Something I contemplate too. I always thought of doing it like in movies where I have a program running which will send out email with all these details if I don’t refresh the trigger every year or so
Technocratic
Stealth
7 months ago
There should be a smart contract for this 😉
Whatsinthename
Stealth
7 months ago
1. Wife or parents are nominees for all the accounts
2. On a yearly basis , I share the print out and email all my investments and bank account details to my sister for safe guarding purposes.
3. Need to prepare a will.
4. Educate family more about my investments.
PersonalFinanceAbhi
Stealth
7 months ago
That’s why it’s always ideal to keep a financial planner who can guide your families and nominees in case of demise of a bread earner. We have been doing it since long to make sure the nominee doesn’t have to go through rigorous process of paper work and we can help them plan their finances based on the available cash flows. Happy to help or guide if anyone needs.
My wife knows… we share our finances and have common tracking sheet for our investments. Our details of each investment account is also shared, so that the other person is aware of the account and investment details.
Maintained an excel in one drive and shared it with my wife and few close friends.
ProteinPancakes
Stealth
7 months ago
My family is very transparent with our finances
