Stock market question for the long in tooth crowd

Mr.Gadget

Old Mossy Horns
Wish you the best on your plans. My parents plans were very well thought out as well. But when you wake up in the floor at 3:00 am with massive bleeding on the brain and never recovery makes it kind of hard for you to follow your plan. Then it falls on your love ones to make the decisions. n my case in all fell on me. The only decision I made was money would not be an issue for the best care for my mom.

But my parents could've done a better job protecting their investments and cash. As to the OP question I like "gifting" as a way to make sure my hard work goes to my family.

There's a document on my front door that says do not resuscitate and no heroic Measures that should cover it.
 

turkeyfoot

Old Mossy Horns
There's a document on my front door that says do not resuscitate and no heroic Measures that should cover it.
Not to be picky but that won't cover it many and I mean lot strokes don't take you out but can leave you mentally incompente and unable make decisions then you can live years without being able to speak or make decisions no machines needed stay alive and for you to be taken out this world would be murder until happens naturally. You can trust me on this I've seen it hundreds times fella driving around just weeks before then next 2 to 6 years spent being fed cared for and visited in nursing home. As much as we'd like think we're in control we are not always. I truly hope doesn't happen but I'd for sure have some type plan in place if does no need for all you worked for go to a nursing home which is what happens probably more than people realize.
 

josh

Old Mossy Horns
There's a document on my front door that says do not resuscitate and no heroic Measures that should cover it.
Ok so what?

If you get to the point of not being able to make it to the restroom or change yourself do you want your children or grandchildren doing it?

My grandpa wasted away with cancer and he was a DNR ....at home , the hospital, and then hospice, it was long and drawn out misery

My grandma has become completely immobile and absolutely afraid to get up and fall and every trip to the shower took several hours before we just couldn’t do it anymore
 

Mr.Gadget

Old Mossy Horns
Ok so what?

If you get to the point of not being able to make it to the restroom or change yourself do you want your children or grandchildren doing it?

My grandpa wasted away with cancer and he was a DNR ....at home , the hospital, and then hospice, it was long and drawn out misery

My grandma has become completely immobile and absolutely afraid to get up and fall and every trip to the shower took several hours before we just couldn’t do it anymore

Looks like you have no clue what you are talking about!

Screw the childern an and grandchildren!
Whats it matter to you?


Funny how everyone applies their case to others.

BTW, I have no children or grandchildren, that I know of.
 

KTMan

Twelve Pointer
Contributor
There's a document on my front door that says do not resuscitate and no heroic Measures that should cover it.
My mother had the same thing. Doesn’t mean crap unless you code. And then it still might not mean crap. In my mother’s final weeks the assistant living called me and said that I needEd to get down immediately she was not doing well. Stated they had the crash cart in her room and ready to start if needed. I called back on way and informed them she was DNR. I was advised they did not have on file and they must start if she coded. Turns out her previous rehab place had not transferred her DNR. I got a copy to them and the hospital she was being transported to Immediately.

But glad you got it all figured out.
 

Mr.Gadget

Old Mossy Horns
I hope the plan works. Who knows.
Few things that help.
Have someone that knows what is needed and wanted set it up. Also is place a copy in your files for Mychart at all the local hospitals and keep a copy.
First thing that pops up when they check for your medical records.
Also list the requirements and financial responsibility for what they do beyond your wishes. One of mine because of covid was not to be placed on a vent. If they did all financial responsibility falls on the medical provider.

Wife has worked in the medical field for 34 years and had to deal with it all the time.

We will see. But there is no way I plan to sit and melt away if I can still do something to end it.
 

josh

Old Mossy Horns
Looks like you have no clue what you are talking about!

Screw the childern an and grandchildren!
Whats it matter to you?


Funny how everyone applies their case to others.

BTW, I have no children or grandchildren, that I know of.
You don’t have a clue....You don’t have to be so damn confrontational haha

Your situation is the minority in this thread

You don’t have children so you don’t realize the feelings toward them. But I have that feeling toward my parents and my grandparents,
 

Mr.Gadget

Old Mossy Horns
You don’t have a clue....You don’t have to be so damn confrontational haha

Your situation is the minority in this thread

You don’t have children so you don’t realize the feelings toward them. But I have that feeling toward my parents and my grandparents,
Look,
Your are the one being confrontational.

FYI I know whats its like! Had to change my granddads diapers. We are no facing taking care of my wifes parents. He don't need a diaper, he has two bags from what a doctor screwed up.

No way in hell I plan to be in that spot.
 

bigten

Old Mossy Horns
Contributor
ZG, I too have been looking at my investments and trying to pre-plan when to do what. We are dealing with the what ifs with my Mom right now, who just turned 90 yesterday. Land, accounts and holdings that will be attached if things go bad. I have tried for 15 years to get her to make changes to protect, but.......
Now, I am looking at what I need to change for myself, and in what manner..
 

luckybuck

Old Mossy Horns
I am not waiting on investments to pay off, I just keep working and buying. If its 3 acres then so be it at some point the value is going to be good enough I can pocket a large sum...land has always made me more money than anything else...even cows...and cows are not too complicated if you don't mind a little work.
If my financial goals are met, it will be to make sure my son will be able to maintain his 200 acres the rest of his life...He is well on his way since he saves every penny at age 11 and can pay for a lot of his college already...He sells eggs from his chickens every week and puts the money in the bank...His bull is throwing some of the prettiest calves I have ever seen...and he makes a good lick on selling calves...
 

Zach's Grandpa

Old Mossy Horns
ZG, I too have been looking at my investments and trying to pre-plan when to do what. We are dealing with the what ifs with my Mom right now, who just turned 90 yesterday. Land, accounts and holdings that will be attached if things go bad. I have tried for 15 years to get her to make changes to protect, but.......
Now, I am looking at what I need to change for myself, and in what manner..
Happy Birthday to your Mom. I think the hardest thing for that generation to overcome is understanding that they no longer live in a world where your assets are safe. Entering a nursing home is "going to the poor house" in their minds because their parents and grandparents probably were taken care of at home. Times are different now and people just can't give up their jobs and stay at home with an elderly person. One of the hardest things I've ever done was drive my Mom to the nursing home because I knew she would never live at home again. We both cried all the way there, but I had no choice and neither did she.

Thankfully she had allowed me to make the necessary arrangements so as not to leave both of us broke. I would advise anyone to make those same arrangements so that the estate has less than $5000.00 when they pass. They won't come after the estate for nursing home expenses if it's less than that but they will file a claim against it as regular procedure. Just an FYI, life insurance policies are considered an asset and they will come after them. If you can convert it to a burial policy or make the funeral home the beneficiary then it's safe for the funeral expenses.

Anyone who thinks that it can't happen to them just isn't being realistic about life. A stroke, an accident, and any number of other things can leave you disabled in less than a minute.
 

woodmoose

Administrator
Staff member
Contributor
old age homes or whatever you want to call them are a bill

if you willingly use them, it's your bill, not mine,,,

never understood that attitude on things,,,(not just in this area),,,

and I am kind of in @Mr.Gadget 's boat,,,

I always joked (was I joking?) that when I felt the end coming,,, or infirmity,,, I was gonna go hunting and not come back,,, make the bastards wait 7 years to declare me dead,,,

kind of like stories of the Native Americans,,,, or wolf packs,,,

will it happen? don't know,,,,

but I do know that I am not cut out for city living nor living with a crowd in some damn "home",,, folks die there!!
 

Zach's Grandpa

Old Mossy Horns
I have a friend who at 80 was still working rebuilding transmissions in his shop when he got the virus. He stayed in the hospital three months and almost died. His wife had a stroke several years ago and has limited use of her left arm and leg, she could not care for him at home. He is in a nursing home and has made it back to walking fifty steps without a walker before having to sit down. This is a guy who had the same thoughts and ideas as some on here. "I'll never stay in a nursing home, won't happen to me, I'll end it before that happens, not gonna do that". Well there he is through no fault of his own. You think it can't happen to you? He didn't either but it did.
 

woodmoose

Administrator
Staff member
Contributor
You think it can't happen to you?


I NEVER think things "can't happen" to me,,,, my left eye blindness is proof that anything can happen,,,

one ophthalmologist said "you had a REAL unlucky couple of days",,,,
  • 1 in 10,000 that you'll have an eye issue like I had,,,then
  • 1 in 10,000 that laser surgery doesn't repair it,,,then
  • 1 in 10,000 that regular surgery won't fix it,,,,
yeap,,, i beat the CRAP out of all three of those odds,,, should of bought a lottery ticket that week,,, but kind of had a bad attitude,,,
 

bigten

Old Mossy Horns
Contributor
Happy Birthday to your Mom. I think the hardest thing for that generation to overcome is understanding that they no longer live in a world where your assets are safe. Entering a nursing home is "going to the poor house" in their minds because their parents and grandparents probably were taken care of at home. Times are different now and people just can't give up their jobs and stay at home with an elderly person. One of the hardest things I've ever done was drive my Mom to the nursing home because I knew she would never live at home again. We both cried all the way there, but I had no choice and neither did she.

Thankfully she had allowed me to make the necessary arrangements so as not to leave both of us broke. I would advise anyone to make those same arrangements so that the estate has less than $5000.00 when they pass. They won't come after the estate for nursing home expenses if it's less than that but they will file a claim against it as regular procedure. Just an FYI, life insurance policies are considered an asset and they will come after them. If you can convert it to a burial policy or make the funeral home the beneficiary then it's safe for the funeral expenses.

Anyone who thinks that it can't happen to them just isn't being realistic about life. A stroke, an accident, and any number of other things can leave you disabled in less than a minute.

Hammer, meet nail... I have tried, with absolutely no success, to explain all this, as well as one of my sisters that spent many years with a CPA operation. The ONLY thing she has protected are the life insurance policies. Tentative property division, but nothing transferred. Allocations for other assets has been planned, but that is all, and we know where it will end up in a bad case scenario. But........ nothing more I can do at this point.
 

shurshot

Eight Pointer
I'm not paying that its just not how I'm going to live. I told my family when they get to the boat ramp at the beach and I didnt bother to pull the trailer out or park the truck they will know whats going on.
What? And waste a day of good fishing? At least wait til ya get back near the ramp before you fall overboard ..😉
 

Homebrewale

Old Mossy Horns
old age homes or whatever you want to call them are a bill

if you willingly use them, it's your bill, not mine,,,

never understood that attitude on things,,,(not just in this area),,,

Yes, I don't understand the attitude of moving all of a person's assets so the nursing home can't get to them and in the end the taxpayers (rest of us) have to pay your nursing home bills. Yes, it would be nice to pass along inheritances to family but don't pass the bills on to me so you can do so.
 

Zach's Grandpa

Old Mossy Horns
Yes, I don't understand the attitude of moving all of a person's assets so the nursing home can't get to them and in the end the taxpayers (rest of us) have to pay your nursing home bills. Yes, it would be nice to pass along inheritances to family but don't pass the bills on to me so you can do so.
Probably no one does, but unfortunately that is how the system is set up. There are two ways to enter a nursing home, either a family member signs to be responsible for the bill when the patient's money runs out, or you enter under the Medicaid program. You can't enter under the Medicaid program if you have more than $2000.00 in the bank, $3000.00 for a couple. If you have a home then you sign it over to them at your and your spouse's death along with any retirement money like IRA's and 401k's. If only one is entering a care facility then the other one can keep on vehicle. Medicaid looks back five years to see what has been disposed of so you can't just give everything away this month and enter a nursing facility next month. Trust me when I say that a parent or relative will not be accepted into a nursing home without someone signing to be responsible for the bill, and they will come after you for the money. If they enter under Medicaid then they won't come after anything other than the estate.

I've never spoken to anyone that liked having to do it or wanted to do it, but that's how the system is set up. My parents weren't wealthy and there wouldn't have been enough assets to pay for six months, Mom was there for six years. No way could I afford $7750.00 per month for one year let alone six. A lot of people don't understand it because they haven't had to deal with it. Believe me it ain't easy.
 

woodmoose

Administrator
Staff member
Contributor
My parents weren't wealthy and there wouldn't have been enough assets to pay for six months, Mom was there for six years. No way could I afford $7750.00 per month for one year let alone six. A lot of people don't understand it because they haven't had to deal with it. Believe me it ain't easy.


so you pay until it runs out, then go on the Medicaid system - or are you saying that is not a possibility?

why not buy long term care insurance like some advocate?

and you're right, never had to deal with a nursing home,,, my line tends to die fast and hard,,, ya should try it (y)
 

Zach's Grandpa

Old Mossy Horns
so you pay until it runs out, then go on the Medicaid system - or are you saying that is not a possibility?
I suppose it would be possible but the "red tape and paperwork" could take anywhere from three to six months or longer. In the meantime someone has to pay the bill or the patient is released from the nursing home. Be thankful that you've never had to deal with it, it's a cluster.
 

woodmoose

Administrator
Staff member
Contributor
Be thankful that you've never had to deal with it, it's a cluster


well actually I'm not thankful for that - I'd rather deal with that ("rest homes") then a mom who passed at the age of 47 from non-hodgkins lymphoma - going poor helping her live to old age would have been MUCH better thank you
 

Zach's Grandpa

Old Mossy Horns
well actually I'm not thankful for that - I'd rather deal with that ("rest homes") then a mom who passed at the age of 47 from non-hodgkins lymphoma - going poor helping her live to old age would have been MUCH better thank you
Sorry to hear that. I had my Mom for almost 76 years and I’m thankful for everyday. She was two and a half months shy of 94
 

Homebrewale

Old Mossy Horns
Probably no one does, but unfortunately that is how the system is set up. There are two ways to enter a nursing home, either a family member signs to be responsible for the bill when the patient's money runs out, or you enter under the Medicaid program. You can't enter under the Medicaid program if you have more than $2000.00 in the bank, $3000.00 for a couple. If you have a home then you sign it over to them at your and your spouse's death along with any retirement money like IRA's and 401k's. If only one is entering a care facility then the other one can keep on vehicle. Medicaid looks back five years to see what has been disposed of so you can't just give everything away this month and enter a nursing facility next month. Trust me when I say that a parent or relative will not be accepted into a nursing home without someone signing to be responsible for the bill, and they will come after you for the money. If they enter under Medicaid then they won't come after anything other than the estate.

I've never spoken to anyone that liked having to do it or wanted to do it, but that's how the system is set up. My parents weren't wealthy and there wouldn't have been enough assets to pay for six months, Mom was there for six years. No way could I afford $7750.00 per month for one year let alone six. A lot of people don't understand it because they haven't had to deal with it. Believe me it ain't easy.

I was never suggesting that you have to dip into your own pocket to pay for the nursing home. My comment was towards people who starting setting up estates at an early retirement age to move assets soon enough to avoid the 5 year look back so Medicaid can take over paying for the nursing home. I don't have any issue with families that don't have the means to pay for nursing homes use Medicare. It is with the families who are hiding the assets.

That said, I'm not sure if you know that NC is one of those states with filial responsibility laws. I don't like the law but I know it is there.
https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySection/Chapter_14/GS_14-326.1.pdf
 

jug

Old Mossy Horns
Contributor
No I was not happy with Obama during his term but I was happy with what we did under Trump. No, my expectations were a little higher for Obama even though I didn't vote for him. He obviously let me and alot of others down. We lost money overall with Obama during his first term. Lost our very good health insurance during his 2nd term. Lost alot of business during his first term. Lost a little in the stock market during his first term.
I gained on everything with Trump. Made the most money in my business and stock market that I have ever made since I started in 1994 .
Even our health insurance is almost as good as it was now.
So No.... hell no I won't happy with Obama
 
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