Wednesday, April 29, 2015

I am turning 32 on Friday!!

Who would believe it…. me 32….

And what else would a 32 year old concern herself with but death, finances and future security.

This year has been all about securing our future and the future of the in-laws. I have been working with them for months to get their finances in order.

When we stated this process the mother in-law had them near $20,000 in debt. After years of only minimal payments totaling over $600 monthly, making no head way on the actual debt, they were drowning.

I enrolled them in Debt Consolation program and lowered his monthly payments to half. We are slowly making progress.

Then we started the difficult talks about the future and their health. I had to start slow, which is why we are 5 months into the year and I am still working on it.

All the beneficiaries have been changed because of the mother in-laws diminishing mental health. Then we secured an insurance policy to pay mortgage payments for 3 years and a transfer of deed to Duste when the father in-law passes.

Now we are working on actual life insurance to pay for the funeral expense. Because of their age I had to look into policies through AARP. IF approved life insurance coverage will be $120 a month for both.

I also got the fun of price checking a gravestone and plots. This is the next savings goal for the in-laws.

Through all this it makes me aware of our future security. When we bought the house we got house life insurance, so at the time of either of our death it will pay off the house. Earlier this month we got a pleasant surprised to find Duste’s parents had life insurance on her since her early 20’s! So we changed the beneficiary and made note of it in our files. Now we are looking into life insurance on me. 

Next up – saving for plots and a headstone after renovations on the house are complete. None of this is fun but it is necessary. I do not want to be her parents’ age and in the same situation. I do want this to be done and over with so I don’t have to worry about it anymore.

So, that’s what I have been doing on my way turning 32…..

No comments:

Post a Comment