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None. The company has trouble staying alive with me alive. It will be gone when I'm dead. Heck, the one that got acquired died even with me in an advisory posit
by muzani 4y ago
None. The company has trouble staying alive with me alive. It will be gone when I'm dead. Heck, the one that got acquired died even with me in an advisory position.
There will always be competitors. Some may spawn or be inspired later. Someone eventually does the same thing but better.
It's probably overengineering to try to keep a company alive longer than me. The primary responsibility is keeping my kids alive should I die within the next two decades, so I'd rather focus on that first.
- deleted 4y ago[deleted]
- fragmede 4y agoBeyond life insurance, what have you done to ensure your descendants future?
- krnlpnc 4y agoBought them a round of Ferraris
- muzani 4y agoLife insurance is one thing, but it has to be managed well. My will puts it into a fund that distributes it at a monthly rate until they're a certain age, so it doesn't get used up all at once. The rate is a little higher for college aged and some conditions let them cover college fee directly from the pool. There's also named guardians in case my wife dies too, and they get a caregivers stipend. There's also a lot of stuff that isn't clearly handled by inheritance laws - crypto, steam games, income from say, Google Play, passwords, so you have to set that up as well. Also because software made me paranoid about failsafes, I took a separate life insurance in case the people in charge of my will screws over the kids, so they'll get a lump sump once I die.
- deserted 4y agoThe separate lump sum life insurance is brilliant. Assuming all goes well, it will be a nice initial boost to handle one off 'start of new setup' expenses and ensure a buffer of savings beyond the monthly stipend. Worst case, it can be stretched and used for critical things instead of safety and comfort.
- _448 4y ago> Heck, the one that got acquired died even with me in an advisory position. :) There is an interesting advice on this topic in a book "Make a million before lunch". It states that your job as a founder should be to make yourself redundant as soon as possible. It helps a lot strategically in the long-run.