02511: Financial Considerations

One thing led to another and I ended up meeting my Sun Life agent recently to check on my portfolio. Around the same time a reminder came up for an appointment I had agreed to months ago to meet another insurance representative who is also the mother of a batch mate from school. At the very least, I've been getting a lot of free coffee.

A lot of financial representatives try to break things down for you by asking you about your life plans. They segment the market into phases of life such as family life or retirement and try to guide you along those lines. And it certainly gets you thinking.

I don't have major travel plans. I'm not exactly saving up for property anymore since I'm rather disillusioned by the local real estate market and it seems we'll continue renting indefinitely. Tobie and I probably won't have kids, at least not anytime soon (not matter how hard we try? har har). But I'm certainly no longer the early professional trying to get established in life either.

In the eyes of the law I'm a single individual who happens to be growing his income. I'm living with another single person with a similar financial situation. As we are not related by blood, he can't be a beneficiary for any of my policies. Thus for now all I can do name trusted family members and ask that they take care of Tobie should anything happen to me.

In light of all this I put together a master document of all my policies and investments so Tobie knows where to look in case the worst happens. Now I find myself wondering if granting special power of attorney is limited to certain matters only or can I give Tobie blanket authority over my estate or something. It's not as romantic as a non-legally binding wedding but it might be more practical in the future.

I'm just thinking aloud for now but all these discussions about my financial future has me thinking along weird lines. Gay life is hard that way.