X-Message-Number: 16465
Date: Thu, 7 Jun 2001 22:15:12 +0100
From: Roy Madden <>
Subject: Paying for it

Hi there,

(I used to be a CPA bear with me). I've been trying to figure out how
to pay for this. I'm in my late twenties, so I should have plenty of
time, but I'm well aware that I might fall under a bus tomorrow
morning. I can afford at the moment only say $100 a month towards the
cost - so (excluding investment returns) you're looking at 20 years of
savings, say 15 years including returns. Not good. Alternatively, get
an insurance policy - 2 problems with this. Firstly being in Europe I
won't get one, or there'll be problems with it if I do, and secondly
as far as I'm concerned that's (if you'll excuse the phrase) 'dead'
money i.e. it is not contributing to the lump sum and will increase my
savings timetable.

So a germ of an idea was bouncing around in my head. What you need is
a group of (for arguments sake) 20 people in roughly the same
situation. They contribute the $100 each towards a group fund which
goes into an investment account. Within one year they should have
nearly enough to pay for one suspension, which is much better than
waiting 15 without cover. As a side benefit, it would make proving to
CI that the funds are available easier (i.e. if a person is a 'card
carrying' member of this group CI should be able to go ahead with
suspension knowing the money is available). Now I can see some obvious
problems, e.g. members should not have to contribute indefinitely (20
years or $25k?), average life expectancy has to be greater than 15/20
years or the maths doesn't work, you may need continuous new members
to compensate for mortality rates, you probably need a funding lump
sum up front for contingencies, and I'm sure you lot will see lots
more, but I do think there may be a semblance of a good idea trying to
get out here?


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