Study: Nearly half of Americans die with ‘virtually no financial assets’

WP ^ | Aug. 3, 2012 | Suzy Khimm

[Daffynition]

**more than 46 percent of Americans die with less than $10,000 in financial assets, with many spending the end of their life strongly dependent on the government.**

[stuartcr]

Hopefully that won’t be me in 15 years or so...what would all my fellow freepers do without my input?

[Daffynition]

[Chewbarkah]

Uh..., what percentage of Americans LIVE with less than $10,000 in assets, dependent on spending the entirety of their lives strongly dependent on the government?

[ichabod1]

Unsurprising. When you’re old and dying, before the gooberment will consent to help you have to spend down all assets to get poor enough to qualify.

[stephenjohnbanker]

: )

[dfwgator]

You can’t take it with you.

[dfwgator]

[who knows what evil?]

'Die Broke'...Stephen Pollan.

Sound advice...anything left over after I croak will be liquidated with the meager proceeds going to cats.

[allmendream]

Well of course!

What did they think would be the result of giving elderly care only to those without assets, and taxing at >50% any assets over a threshold?

Smart people PLAN for this and transfer their assets to their heirs, get government socialized care for the last few years of life - and die with almost nothing.

Elderly Americans have are, as a group, the most affluent Americans - and the smart ones make sure the majority of their assets are passed on BEFORE they die.

[Arrowhead1952]

Give it to them BEFORE you die otherwise Socialist Sam will take it all.

We have been working on that since we had issues when my parents passed away. Daughter should be "sitting pretty" when we die.

[SierraWasp]

WHen you said “toasted,” I thought you were going to tell us the kids were gonna cremate you out of spite. But I don’t wanna strain your sense of humor. (grin)