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