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Why would your grandparents 'take out a insurance policy on you'?
So....the insurance company would pay them in case you died?
that just sounds soo weird to me. or perhaps i'm not understanding it correctly.
I think it was to be used for final expenses in case I died as a kid. Aunt told me about it last night, I have no idea of the full details.
They all planned on keeping it a secret until I was ready to buy a house, but grandmother is paying taxes on it apparently and wants rid of it.
I've only been at my job for six weeks, and don't feel comfortable purchasing in this area period as if something happens to my current job, I'm likely going to have to move.
Wow. There are so pretty extreme examples. My stupidest personal finance decision has to be the fact that I enjoy and continue to try and play Golf. I live and work in the city and if it weren't for golfing in the suburbs every weekend then I would never need a car. So factor in the gas, insurance, greens fees, and drinking associated with it and I would say I am certainly pretty dumb to keep playing. Worst thing about it is that I only shoot in the 90's.
Expensive private preschool-elementary schools for my kids ($15k tuition per kid, per year). Expensive travel sports programs for my kids ($6k cost for 1 team). I can be financially stupid with my kids. I should have reminded myself - they do not need to be trained by Olympic coaches... They do not need pricey preschools to get a good education.
A small thing, but 25 years ago in graduate school my then hubby and I got our first unfurnished apartment and...got rent to own furniture!...OMG - that stuff was sooo cheaply made and we paid on it for a couple years - I don't even know how much all together. I actually still have the dining room table and chairs that I mainly use to throw the mail on. Got rid of the nightstands and cocktail table at a yard sale a few years ago...can't even remember where the rest of it went but it was not a smart move.
I maybe made up for it a bit later when we divorced and sold our first home - we managed to make $25k after owning it for only 5 years and I was smart enough to invest it all and it has grown nicely since then.
I have always been pretty careful with money so the dumbest thing I have ever done was to buy expensive "figurine" collections -- Royal Doulton and LLadro. Probably spent several thousands on them and they are wrapped in newspaper in a basement box. I see them all the time in antique stores but nobody ever buys them. I used to have them sitting out collecting dust but don't care for clutter" anymore. Lesson learned. LESS STUFF!
I got married. That is the absolutely worst financial decision I ever made.
Helped him get out of debt. Helped him pay off lenders, which included people who do not check your credit record or send you to collection agencies but rather call and threaten to shoot your dog if you don't pay your vig on time. He just piled on more debt. Compulsive gambler, among other bad habits, but that was the most expensive of them.
Watched my rent go out the window every Sunday watching football games. I knew the spreads and the over/under for every game so I could monitor the scores and know what kind of shape we would be in each week. I still do not watch football anymore and never will again. It's like PTSD hearing the games on TV.
Fast forward. Got rid of expense; i.e., husband. Got help and got better. No longer a codependent moron.
It took years, but I got out of debt and by the time the recession hit, I had moved up in my career and was finally making decent money and able to buy a small condo for myself, so the recession itself was not a bad time for me, except that the place I bought in 2010 is worth a bit less now than I paid for it, but I really don't care because I live here and will for a while.
you beat me to it.
I had the highest household income ever while married but living paycheck to paycheck. I had more money when I was single and earned so-so money. He earned twice my income but I paid off his debt once we married.
So I decided that I don't work or only part time. Less money, less dumb spending. Then I had an awesome opportunity working full time and I took it. His spending increased. Nothing to show for though, just plain out the window.
My only chance to save money from getting "lost" was buying real estate. Best decision ever. Bought in 2010. Got rid of hubby in 2011.
My income is less than half as when I was married. But I have as much money as never before. Bought him out of the house. He spent the money I gave him within a month.
I own a house and paid off vehicles. He lives in a rental and still pays off his motorcycle.
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