Loading ...I know of many people with a million dollars plus in the bank accounts, or US saving bonds. Many inherited it. And before THEY die they are having a problem deciding who to LEAVE it all to.
I call this the “picnic theory”. Whenever there is a family picnic for example, everybody brings MORE than needed to share. So in reality, if one or more persons comes empty handed, brings nothing, it does not matter. He or they will not starve.
Its the same thing with many people who never saved any money. Borrow and spend, gamble etc. And near the end of THEIR life, they inherit a bunch of money or a house etc.
I know the 95% money on deposit isn’t there. All I’m saying is…”If you don’t want your money in the house, you have to PAY money, a fee, to have some bank be liable and OWE it to you, and FDIC to insure some of it.