This is, of course, the distant ideal and not what Marx and Engles advocated for doing immediately. This is why it's important to understand the distinction between the ideal of communism and what communists advocate for in the present material conditions.
How can you assume this is what they ment?
I'm pretty sure if that's what they ment, they would have said so.
They said a lot of things. Never that.
Communism is an extended form of socialism.
You are talking about something else entirely n Communism does not advocate for the loss of personal finances. Communism isn't what the u.s government and school systems has told you it is.
It's not giving up all your wealth and work to "the state" so it can be evenly distributed.
That's ridiculous.
It's about making the system more fair and equitable. Billionaires wouldn't exist. And top hierarchy class wouldn't exist that controls everything.
No one could be in control of the media or elections if no one was allowed to exploit others and amass such large amounts of money.