Having Nothing.

[c1JSU]

I have nothing, in as much as I don't own my own home or have anything significant in savings (£600). I have nothing of any value i.e. no jewellery, or fabulous works of art. I haven't prepared a Will because I have nothing to leave anyone! I do work and I also have three children. Their father is wealthy so I am reassured by the fact they will have an inheritance of sorts, but I feel like I am in the minority with 'having nothing'. Can someone give me some perspective or advice? Am I just supposed to die with nothing to my name? The £600 in savings will probably barely cover my funeral!

[SuperMeerkat]

Not a penny in savings here 🤦‍♀️ My only asset is our house and as we only bought it last year I doubt there’s much equity in it. Depressing really.

[mynewusernamenow]

I hear you, I have nothing either, apart from the meagre workplace pension, and the more lucrative death in service benefit that in all honesty keeps me i a job a should leave but can't find a replacement that would give the same benefit to my children should the worst happen.

[AdoraBell]

Definitely not in a minority, but are you working? Could you add to the £600 savings? Even if it’s just a few pounds per week.

I second looking into a life insurance, or maybe setting up saving accounts for the DC with a couple of pounds per month.

[foodname]

You should have life cover. And a Will is still necessary regarding custody of your children and the insurance policy.

[MrsMaiselsMuff]

You're not in a minority at all in the real (non MN) world.

Do you have sufficient pension for you to manage your retirement?

It really doesn't matter if you leave nothing when you die. Inheritance is not obligatory.

[Foxglovesandprimroses]

When DS was a baby I was in the same position as you so I took out life insurance which cost £5 a month and would pay £100,000 if I died before the end of the policy when he turns 18.

[Mintjulia]

Unless you opt out, won’t your pension fund need to be willed to your children.

[Scarfaceclaw21]

Money does not make you a nice person at all. You can give your kids values, principles and morals. A happy child hood with memories of a loving mum. That is a good legacy to leave behind.
I have nothing, equity in my house but nothing in it, old clothes, etc. I do worry about providing for my dc, especially as my dsis is quite wealthy and I feel literally like the poor relation.

[mummmy2017]

I know how you feel.
But you are being a mum, your children love you, money does not make a nice person

[NotSuchASmugMarriedNow1]

Sorry I see that you do work. How much have you got in your pension?

[NotSuchASmugMarriedNow1]

How about opening an insurance policy that will pay out on your death? You could leave that to your kids. Also do you work? Workplace pensions are a legal requirement now so you could leave that to your kids too.