Personal Finance and Investing

I've had these discussions with folks older than myself, and read a little here or there.

Your heirs need your passwords. Your accounts. The titles to your cars. Any deed you may have. Contracts. Tax records. Because in a paperless age, these things can be unknowable in a non-digital form. Don't leave your phone passcode? Will anyone be able to cancel monthly service? Replacing vital documents is slow and expensive.

There are professional managers of incapacitated people, and there are standardized fee organizations which may or may not apply, but even there the fees are steep. And usually to make it worthwhile for you and for them, a large bundle is needed - like $250k and up as a minimum. So little people are left with standardized managed accounts at financial institutions, brokers, banks, mutual fund companies.

Beware too: everyone has a fee. Expense ratios add up and compound over time just like your after tax returns. So 1% on your first $500 at age 20 is still 1% on your bundle at age 40 and 55 and 75. And 1% on $200k is $2,000 a year! No wonder mutual fund companies fight like cats and dogs to bag new customers! Fees can total 25% of accumulated return over your lifetime!