site banner

Small-Scale Question Sunday for October 29, 2023

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

2
Jump in the discussion.

No email address required.

Is it possible to, say, have all of my money invested and untouched for a hundred years

Generally no. And thank God. Because if this was allowed all the resources of the world would be controlled by long dead people.

https://en.wikipedia.org/wiki/Rule_against_perpetuities

Rich people in Medieval times used to give all their money to monasteries so that monks would pray for their souls. We can only guess how many person-millenia were squandered praying for the souls of the dead rich. A lot, presumably, even if most monks mailed it in.

Once you're dead, you'll have limited ability to control your former wealth.

That's why you should strive to spend nearly all your money before you die. If you don't, you'll get a Ford Foundation situation where your sad and weak descendants spend your money on the exact antithesis of your desired legacy.