My gift to save humanity

I expect to have lot of money at the end since I enjoy saving for retirement and I’m well on the way to achieving my goals. My wife and I have discussed what will happen to the wealth when we’re gone. We’re not going to have children at any point so all that money will be wasted. I’ve thought of donating it to an NGO for animals and the same goes for the house. It’s a worthy cause and might actually help some souls.

I can try and save us!

I can try and save us!

But yesterday morning I had the most ripping idea in the few minutes before waking. I was so excited, I remained awake with eyes closed fleshing out the details. I can do it. I can actually freaking do it! So here’s my plan.

Humans can’t stay on Earth forever. Sooner or later, in one way or the other we’re going to have to get off this planet and seek our home elsewhere. Based on what I’ve read till now, life seems to be quite a rare commodity and intelligent life even more so. But I foresee collaboration problems. Even if everyone realizes it needs to be done, who will take the first step and who will supply the money?

Look at our predicament on climate change. We all know something needs to be done. Virtually every scientist and scientific organization in the world agrees that anthropogenic climate change is a reality. But when it actually came down to it in Copenhagen, what happened? That’s right. Nothing. Because though we all agree on what needs to be done, no one wants to pony up the money.

The same thing will likely happen when we humans need to leave the planet. A point may come when a huge debate is going on about it. Some will say there’s no danger and that we just have to stay put. Maybe they’ll question the science like they’re doing now with climate change. And even if everyone agrees, there’s going to be a huge fight about who contributes how much money if at all. The blame game will start and historical wrongs will be brought up…all in an excuse to prove that everyone except that particular group needs to contribute.

And here’s where I step in. When I die, I’m going to set up an entity like a trust fund or an NGO which will have the mandate to invest all my assets into stocks. It will accumulate there for a loooong time. Here are two scenarios using the standard compound interest formula: FV = PV (1+i)n

I use an interest rate of just 7% annually which is very low when it comes to long term returns on stocks no matter which country it’s in. To be conservative, let’s say I have just Rs. 4 Cr when I retire, or around $1 million dollars. This is how it works:

500 years later:

Future Value = 1 million * (1.07)500 = 491 thousand trillion dollars

1000 years later:

Future Value = 1 million * (1.07)1000 = 231 thousand trillion trillion dollars

Inflation will doubtless eat into the pile, but I’ve still been conservative. In the developed west, the stock indexes give 12% annual rates and they have 3-4% inflation. So my 7% is a conservative estimate of the difference between the two. In India, growth rates are much higher, but so is inflation. My 7% is even more conservative there.

Imagine if during Copenhagen’s climate convention, when countries were negotiating over mere millions, some NGO steps up and contributes $1 trillion with no strings attached! It’ll be sure to jump start and galvanize the proceedings. We would have walked out of Copenhagen with a treaty that could change our world for the better.

I’ll have to hire a reputed and solid legal firm to manage and oversee the assets as it grows – a firm that’ll continue to exist for the time scales at which we’re talking. What do you think? Can my idea actually work?

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Comments

  1. – a quiet place with wild flowers and uncut grass; trees; gravel pathways; a few benches for people to just sit and stare; maybe a bathroom with a shower for anyone who has no bathroom of their own; maybe a warm meal made available for anyone who cant make their own; maybe a resting place ( even air conditioned ) for anyone who has no place to rest. eventually, if my children have no children to leave the family property to, i would like it to go this way …

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  2. “We’re not going to have children at any point so all that money will be wasted. I’ve thought of donating it to an NGO for animals and the same goes for the house. It’s a worthy cause and might actually help some souls.”

    Holy hell you are a monumental jerk.

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    • In reply to Nora

      Please don’t pollute my blog with your language and personal abuses. I’m giving you a pass this time. Do it again and I blacklist your IP address as spam and warn all other websites and blogs about the same.

      Remember that you’re a guest here. Please behave like one.

      Reply

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