The OTHER big goal for this year is to give away 2/3'rds of my net worth.

I figure there are lots of folks who would enjoy a little help now, instead of having to wait until I croak.

First, my three kids will get their mortgages paid, their choice of one of 7 rental houses and a $40,000.00 tax free gift each year starting now(1/2 to the kid; 1/2 to the spouse). Each boy gets their choice of 6 guitars/bases. My daughter gets a Steinway piano.

Upon my death, each gets $500,000.00. That will make things easier , but that's not a "free ticket" for the rest of their lives.

Three grandchildren get $10,000.00 a year starting now, and $100,000.00 when I pass. Same logic as above.

2/3 of my net worth (after these initial set-asides) will be donated to a variety of charities; many associated with music projects for displaced musicians or local underprivileged folks.

That will leave me with 100 plus stringed instruments, 10 keyboards, amps and enough funds for a comfortable (almost embarrassingly comfortable) life, full of motorcycles, scooters, boats (soon), an airplane or two and lots more.

Phase two will be to sell 50 more guitars/basses, liquidate a large silver collection, a firearms collection (100 plus pieces), a knife collection and all but two vehicles.

I've been lucky, and increasingly, I see folks suffering.
I had it a little rough coming up....it's NOT FUN!

Last year, at age 68, I had my most profitable year, ever, and I want to share my good fortune NOW, with those in need.

The family agrees with my plan (they have no choice LOL), but I can see a little disappointment...it will make them work harder.

The warehouse and business will go to my two boys for their help and hard work. Thing is, equipment is worth, today, under $150,000.00 (and less in the future, not counting the constant upgrades). Good will is the relationships I have with my clients, and that is something that will disappear when I'm gone. There will be a 250,000 square foot warehouse operation.

It's time. Don't worry (not that you would); I'm not at death's door. I'm still working at what I love to do and getting paid entirely too much.

I'm going to play it loose. When I see someone in need, I'll help out a little...tax deductible or not.

It's time to "RELAX AND ENJOY"!


Russ

I am glad to hear you are healthy- this giving away stuff can be interpreted as a bad sign. Is giving to the "Synthzone Operational Fund" considered a charity? I'm sure Nigel could use something to help ensure the forum keeps going whether we are here or gone...

I am only a member for a short time but have looked here for information for several years. But it doesn't take long to see the "Zone" is a valuable resource to musicians, and most of all, makes friends out of strangers. Perpetuating this is a good investment, if I may.

Sparky, that is certainly in the works.


Nigel is one of my favorites!


Russ