Long story short, I'm a small business owner. One day, a skater-looking hippie came into my shop, carefree and flying high. He placed his order and tipped our staff generously. I asked him what he did for a living, and he said, "I don't work, my brother. My parents set up a trust with bonds." He said, "Bonds, bonds, bonds...I'm set for life."
Fast forward 20 years later, I now have $1 million saved. I have $400,000 in a 20-year Treasury bond with a 4.5% coupon, and another $600,000 in SWVXX until I decide what to do with it (these $600,000 just matured from CDs this month).
My question is, I want to set up something for me and my family, like the hippie. I want to create a trust with these funds, untouched for 100 years, with all funds reinvested until I die. Then, my family can withdraw, capped at half the interest paid out per year, while the other half is reinvested.
Have you heard of something like this? Have you set up something similar?