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Thinking about creating a family trust for Martian colonization

Discussion in 'TSLA Investor Discussions' started by anticitizen13.7, Sep 4, 2018.

  1. anticitizen13.7

    anticitizen13.7 Not posting at TMC after 9/17/2018

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    I believe there's a good possibility that much of America, and Planet Earth more broadly, goes to hell in a handbasket in the coming decades. I see the future of Earth as looking something like it does on the SyFy (now Amazon Prime) series 'The Expanse', where a privileged class has all the opportunity, while the masses live a bare existence and climate change has devastated many populated areas.

    To this end, I was thinking about establishing a family trust, so that my children or future descendants might have money to immigrate to Mars or the Outer Planets if things on Earth get really bad. Elon has a stated goal of getting a trip on BFR to Mars to a cost of approximately $300,000-$500,000, if I remember correctly.

    The problem I have is that I am not wealthy, and most big investment companies won't even consider administering a trust in an amount under $500,000, which is very far above what I can initially contribute. The company where I have my IRA has literature on trust administrations, and lists pricing tiers by the Millions of dollars under management. A budget option I was able to find is KissTrust | A Smarter Way to Trust, which is run by Eastern Point Trust Company, where people can start building a trust with $25 and no fees at the entry level tier. The catch is that investment options are fairly limited unless one opts for higher tiers of service.

    Has anyone thought about this?

    Does anyone have experience in establishing a family trust? Or what services from which institutions might be affordable?
     
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  2. SpudLime

    SpudLime Active Member

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    :popcorn:
     
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  3. 9837264723849

    9837264723849 Member

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    #3 9837264723849, Sep 5, 2018
    Last edited: Sep 5, 2018
    Putting everyone's savings into Martian trusts won't make our children's future any better, IMO.

    Do you really think mankind can survive if Earth becomes devastated? Considering the current trend, I would use all my savings to finance sustainable development here on Earth and then, when I'm positive that we can avoid a complete ecological collapse, I might consider diversify into space colonization.

    Because we haven't started yet to reverse the trend (hum, CO2 emissions continue to increase big time, and we're causing a rapid mass extinction), saving money is nothing more than putting a fictional cart before a (dying) horse.

    Edit: I'm not saying SpaceX's plans are useless. I just believe that Mars colonies won't survive if we don't have much better living conditions here on Earth. I'm pretty sure that Mars can help us improve our Earth life, but that Earth will be a better place to live for hundreds of thousands of years to come. IIRC, Musk believes that too.
     
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  4. deonb

    deonb Supporting Member

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    So let me get this straight... Because you're afraid of 'catastrophic' changes on earth - like reaching a CO2 level of 1% (25 times higher than today), you want to compensate by moving to a planet that already has 95% CO2 in the atmosphere?

    Even in the worst times in history with earth under 2 miles of ice with sea levels 500 feet lower than today, or alternatively 50 feet higher if all of the existing ice melts, it will be many orders magnitude easier to deal with than anything you'll face on Mars.

    Humans don't even live on Antarctica today, and the difference between Earth and Mars makes the difference between Hawaii and Antarctica look like two ends of a football field.

    Why not build a house at the bottom of the ocean instead? MUCH simpler and cheaper.
     
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  5. 9837264723849

    9837264723849 Member

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    Exactly. Can we even maintain a livable place on Earth where humans can live in full autonomy? If not, why would it be easier to succeed on Mars where shipping and doing anything will be multiple orders of magnitude harder and more expensive?

    We could try and try again the experiment anywhere on Earth at almost not cost, and yet you expect Mars to have better chance of success?

    Mars will need Earth's backing for centuries if not for millennia.

    Without peace and prosperity on Mother Earth, the colonies will be deserted in no time.

    And don't expect life to be more pleasant there than living under life support at the North Pole, in the Mariana Trench or in a Thai cave :D
     
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  6. jaguar36

    jaguar36 Active Member

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    It seems to me that there are a lot better ways to invest in your children's future rather than creating a small trust for them to move to another planet. Investing in their education seems like probably the most likely avenue to increase their happiness, but there are lots of other choices too. The chances of Earth getting to such a level that Mars looks more appetizing is slim to none. And that's even assuming that we can get to Mars before that happens.
     
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  7. Darren Donovan

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    This is the stuff sci-fi is made of, too unrealistic it's comical.
     
  8. Barklikeadog

    Barklikeadog Active Member

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    I needed a lift today, thanks
     
  9. neroden

    neroden Model S Owner and Frustrated Tesla Fan

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    What everyone else said. The climate problems on Mars are so much worse than on Earth, and the ecosystem is so... nonexistent, that your odds of being totally wiped out on Mars are substantially *higher* than on Earth. Building a stable ecosystem ain't easy, as Biosphere 2 discovered.
     
  10. Hitman007

    Hitman007 Member

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    Buy a former Titan missile silo and turn it into your bunker. That is a much better way to prepare for the end.
     
  11. neroden

    neroden Model S Owner and Frustrated Tesla Fan

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    People tend to use implausible pop-culture versions of post-apocalyptic scenarios; I spent some time doing proper research. Move to an area with a reliable fresh water supply which will be maintained after the climate shifts, substantially upland from the ocean, find a large community with strongly self-protective and scientific attitudes, and have your *community* prepare for everything, specifically for *community* self-sufficiency as much as possible.
     
  12. Darren Donovan

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    Like in "The walking dead"?
     
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  13. tander

    tander Active Member

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    1. take any free legal or investment advice from a forum, especially stuff like creating trust, with a big grain of salt.
    2. consider "investing" in your children's education/family/wellbeing etc., and maybe they will end up taking you to Mars on vacation
    3. you don't necessarily have to have a trust, you could just setup a separate brokerage/bank account and specify what it's for in your will or something, or maybe just set it aside as a general family emergency fund
     

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