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Personal Finance
Personal Finance
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WigglyPenguin
WigglyPenguin
Stealth

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 ?

10mo ago
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ZestyQuokka
ZestyQuokka
Stealth10mo

I'm thinking of a shared folder on all these. Death seems lurking closer now

QuirkyWalrus
QuirkyWalrus
Stealth10mo

Objects is the mirror are closed than you think

DerpyMochi
DerpyMochi
Planet10mo

I don't disclose my finances

BouncyNarwhal
BouncyNarwhal
Sprinklr10mo

Curious to know the reason if you are fine sharing it

DerpyMochi
DerpyMochi
Planet10mo

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.

FluffyNugget
FluffyNugget
Plivo10mo

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

SparklyDonut
SparklyDonut
Stealth10mo

There should be a smart contract for this 😉

SparklyBurrito
SparklyBurrito
Stealth10mo
  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.
JazzyBurrito
JazzyBurrito
Stealth10mo

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.

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