This is a question I have already made a decision on but would like some outside opinions for while it’s still fresh. My beliefs have recently changed from “cryonics is not worth the investment” to “cryonics seems to be worth the investment but greater certainty for a decision is still wanting” (CStbWtIbGCoaDiSW for short). I’ve explored my options with Rudi Hoffman and found that while my primary choice of provider, Alcor, is out of my current range, my options are not unobtainable. CI with the bare basics, lowest pay option is within my budget, and Alcor is likely to be in my budget within a few years if my career plans continue working as they are.
There’s the context, here’s the question: which seems more effective, applying now with a cryonics provider under conditions I consider less than ideal (for me, CI using a term life policy rather than a whole life policy with Alcor, which is what I want) or saving for a short time (some odd months) so I can open up my mutual funds portfolio?
Why these are at odds: because of my income, starting up even a low pay cryonics plan now would set back my ability to invest likely to my next job. The longer I wait on investing, the less effective the investments will be. If all cryonics plans were equal, this would still be a fairly easy decision, but as my beliefs stand, CI is an option I currently do not favor and term life is a policy I definitely do not favor. Why? Because there is a very real probability that, once the policy expires, renewing or changing will incur very large costs should my health conditions change (probable enough to be a concern). So whole life or universal life with Alcor is, at the moment, what I favor.
So, my question again: invest in a cryonics option I do not want now or more quickly develop my portfolio, improving my finances, and allowing for better options in the near future? You can probably guess I have chosen the later option, putting my efforts into securing an investment. If no path can take me to the cryonics option I want now, then the best path is to minimize the distance between me and what I consider to be the best path. But, I am not the only one who has made decisions like this, so any second thoughts or considerations would be welcome.
Consider other possible tradeoffs such as engaging in less leisure activities so you can take a part time job that will pay for cryonics, or saving money by reducing consumption.
These are worthwhile tips and ones I’ve explored. I’ve reduced consumption down to bare minimums already. Most of my time out of work is spent in activities for work as my position requires time spent with the community and networking, but I still look for opportunities on the side. Still, these are useful and assist with either option. Thanks.
Have you considered Term life insurance vs Whole-of-Life insurance? Salemen will try to push you towards the latter but the former can have much lower premiums (especially if your time horizon is < 40 years)
I have considered it. The <40 years horizon is especially affecting because, while my condition is not currently life threatening (or much to note at all), I’m still young and active in controlling it. As I get older, it may be harder for my body to avoid the adverse affects, and I could be dead by 60.
My biggest concern with term is going to term life now, only to be in much worse condition when the term expires, causing a renewal to raise my payments heavily. Since it’s a point brought up by Larks, I’ll say here I have no expectation to self-finance, and I don’t know how much worse my condition will be when it comes time to renew.
Cryonics vs. Investment:
This is a question I have already made a decision on but would like some outside opinions for while it’s still fresh. My beliefs have recently changed from “cryonics is not worth the investment” to “cryonics seems to be worth the investment but greater certainty for a decision is still wanting” (CStbWtIbGCoaDiSW for short). I’ve explored my options with Rudi Hoffman and found that while my primary choice of provider, Alcor, is out of my current range, my options are not unobtainable. CI with the bare basics, lowest pay option is within my budget, and Alcor is likely to be in my budget within a few years if my career plans continue working as they are.
There’s the context, here’s the question: which seems more effective, applying now with a cryonics provider under conditions I consider less than ideal (for me, CI using a term life policy rather than a whole life policy with Alcor, which is what I want) or saving for a short time (some odd months) so I can open up my mutual funds portfolio?
Why these are at odds: because of my income, starting up even a low pay cryonics plan now would set back my ability to invest likely to my next job. The longer I wait on investing, the less effective the investments will be. If all cryonics plans were equal, this would still be a fairly easy decision, but as my beliefs stand, CI is an option I currently do not favor and term life is a policy I definitely do not favor. Why? Because there is a very real probability that, once the policy expires, renewing or changing will incur very large costs should my health conditions change (probable enough to be a concern). So whole life or universal life with Alcor is, at the moment, what I favor.
So, my question again: invest in a cryonics option I do not want now or more quickly develop my portfolio, improving my finances, and allowing for better options in the near future? You can probably guess I have chosen the later option, putting my efforts into securing an investment. If no path can take me to the cryonics option I want now, then the best path is to minimize the distance between me and what I consider to be the best path. But, I am not the only one who has made decisions like this, so any second thoughts or considerations would be welcome.
Consider other possible tradeoffs such as engaging in less leisure activities so you can take a part time job that will pay for cryonics, or saving money by reducing consumption.
These are worthwhile tips and ones I’ve explored. I’ve reduced consumption down to bare minimums already. Most of my time out of work is spent in activities for work as my position requires time spent with the community and networking, but I still look for opportunities on the side. Still, these are useful and assist with either option. Thanks.
Have you considered Term life insurance vs Whole-of-Life insurance? Salemen will try to push you towards the latter but the former can have much lower premiums (especially if your time horizon is < 40 years)
I have considered it. The <40 years horizon is especially affecting because, while my condition is not currently life threatening (or much to note at all), I’m still young and active in controlling it. As I get older, it may be harder for my body to avoid the adverse affects, and I could be dead by 60.
My biggest concern with term is going to term life now, only to be in much worse condition when the term expires, causing a renewal to raise my payments heavily. Since it’s a point brought up by Larks, I’ll say here I have no expectation to self-finance, and I don’t know how much worse my condition will be when it comes time to renew.
Surely for cryonics you want whole-of-life?
There are various reasons you would not want this:
You intend to save a lot of money and self-finance when able
You think you might change your mind
You think you will die in the next 40 years
You think you will be unusually healthy, and thus renewing will be cheaper
You have a higher discount rate than the market, and value paying $10/month rather than $60/month a great deal.