I think of somebody wealthy as having enough assets put away and
enough permanent income to provide ample cash flow and inflation protection to cover their living expenses and taxes.
Not exact matches
These sorts of special companies are rare
enough that I truly don't understand why people aren't chomping at the bit to get their hands on some, not in the usual sense of «picking stocks», but as a
permanent addition to the family's collection of assets that throw off passive
income.
In fact, pretty much anybody who cares
enough about the borrower's future to help them out can be a cosigner, as long as they are at least 18 years old, a U.S. citizen or
permanent resident, and meet the lender's credit and
income requirements.
Moreover, student loans usually have a mere 6 month grace period after graduation that lenders seem to think is
enough time for someone to get a
permanent job and a steady
income.
In fact, pretty much anybody who cares
enough about the borrower's future to help them out can be a cosigner, as long as they are at least 18 years old, a U.S. citizen or
permanent resident, and meet the lender's credit and
income requirements.
You also need a
permanent life insurance plan, where the death benefit would be
enough to supply a future
income to the surviving spouse, for as long as she lives, which is equal or greater than what she may have received from the join and survivor benefit plan.
The solution is to determine if the pension recipient qualifies for
enough permanent guaranteed life insurance to provide an appropriate death benefit, which can be reinvested to replace the lost pension
income.