Spaz's stuff

(Thu Feb 25 22:36:01 2010)

I've got Birth Control

Well, it's been a crazy coupla weeks. I went in almost 2 weeks back and got Mirena inserted. I want to see how it goes in the next month (before my final followup). I've designated Andrew as my official Objectivity Monitor. His response - "I've been your objectivity monitor for at least 7 years. How is this different?" My reply: "This situation holds a lot of money in sway over your perception." And.... now he is taking it seriously.

Until today, EVERYTHING smelled horridly of minerals, particularly iron. Water, clothes, breath, children...everything. Today however, that seems to have abated and I'm feeling myself and smelling normally. Hopefully that will also stop the chocolate and caffeine cravings. I've resumed taking Iron in hopes that will normalize matters.

In other news, since Ashleah has joined on with Primerica, we volunteered to be a training couple for her. We are a bit of a waste of time in terms of debt management. If you don't have it, there's nothing to manage... but we were keenly interested in 3 things: life insurance, retirement investments and education investing. We'd always wanted 500,000 on Andrew. The presumption ran if he keeled over, and I had that amount, I could live with my parents or somewhere cheaply, and homeschool all 4 eventual children until college age. Conversely, if I drop dead, we wanted 250,000 to cover Andrew cutting back on work to spend more time with kids and either do the homeschooling himself or hire a tutor/friend to continue as we'd planned. Homeschooling has always been the primary focus of our need for sufficient life insurance.

When we first got married, there weren't any kids to homeschool, so we disregarded the topic. When I worked, we covered me and Andrew very minimally through the Lab. At Stemco - Andrew gets 5x his salary at no extra cost, and for $32/yr we cover me for 20k and the kids for 10k each. Pretty stingy, but better than what we'd ever had.

So, meeting with the Primerica Rep, we found that for about $140/month, Andrew can have 600k and I can have 400k with 15k for each kid on a 35yr term life policy 35YR! wow - that will pretty much take us to retirement. Good deal. I'm not convinced we need quite that much, but it's where we're starting.

We also discussed education funding, albeit briefly. We noted that if we're going to fully fund our kid's undergrad, we'd better light a $$ fire under that pipe dream PRETTY fast. The numbers the rep gave were for the average 4-yr state school, which in no way accounts for the 5-yr "plan" at a private school, which we consider realistic. Obviously, we expect our kids to work, do some general education at CC, and get some scholarships, but we'd better jump into this pretty fast!

Same goes for retirement, really. Now, I got the impression, that being a salesman, he was trying to scare us with numbers. I really don't think that with only 2 people and a mortgage paid off, we'd need the future equivalent of $5000/month. I'm simply not that greedy. It'd be nice, and if we CAN do it REALISTICALLY - cool. But honest the future equivalent of $3500/month should do me. So, he was forecasting doom and gloom with himself as the silver lining, also promising only a 10% return on mutual funds. Andrew's 401k has performed at at LEAST 15% for the last year (16.92% last quarter), so I know that with the right stuff, you can get better. Dave Ramsey focuses on an average of 12% return on mutual funds. I learned from our first meeting that Dave is a touchy subject with our Primerica guy, so...yeah, keeping those addendum's in my head.

Meanwhile, his $500/month needed to build a nest egg sounds spiffy if we weren't throwing $750/month+ at debt. But, we also have a Dave perspective on debt and investing: don't throw huge amounts at investments if you still have huge lumps in loans. We will be done with SallieMae in September at the LATEST at the rate we're going, but we still have 30k flat to Grandma that we'd like to pay off BEFORE she dies...otherwise known as in the next 4-5yrs. It's totally possible. I'd like to stand up in front of my parents and say that we paid 45k of debt of in less than 7yrs after graduation, because they're convinced that that sort of debt will follow you like a 30yr mortgage. Then again, I'm not a fan of a 30yr mortgage either....different story for a different time. Not saying that we're going to wait another 4yrs to start investing. Not at all! But Andrew just has his annual review yesterday (all smiles and sunshine...) and so we're looking at SOME kind of raise (though he is so vastly under-appreciated, if it weren't for the other positives, this job would be almost a joke) so we're hoping to be able to throw extra at SallieMae, then have some excess for investing come fall.

Anyhow, that's the plan... :-)

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This blag is tagged: Birthcontrol, Insurance, Investments, Primerica, All