How do you know that your kids will have your best interest at heart? They too are human -- subject to all those failings... including greed. Sorry to rain on your parade. Yes, the future is unknown. But, if you have dementia, you won't care anyway. You'll live in your own little world immune from day-to-day concerns. Just make sure that within your life plan, your physical needs are cared for. No one wants to end up sleeping on a park bench in the rain.Cynical me wants to know.
Even if you became the CEO of Fastlaneland INC. How do you prepare for old age if you have no family/children? No matter the bank account size or the passive income, what happens if you get dementia? Who do you trust your well-being/finances management on? A lawyer? A guardian? Would they truly act in your best interest? How would you make sure that you are going to be fine after you can’t take care of yourself anymore?