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Year Of Becoming An Adult: Final Status

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Back in October 2014 I wrote about wanting to use 2015 to really “become adults.” To me, this meant taking care of some much needed issues that were in addition to my 2015 financial goals. I wrote a few posts throughout the year with updates (January update, March update, September update, October update), so this will be my final update of the series.

  1. Wills. Wills were actually drawn up at the beginning of 2015, but it took us awhile to actually get them notarized. This task was completed by mid-year. Final status = Complete
  2. Life Insurance For Hubs. We had intended to start working on this mid-year, but didn’t actually get around to applying until October. In November hubs completed all the bloodwork and in early December he was asked to supply some additional information (all stemming back to his mysterious illness at the end of 2013 where our medical bills are from). He finished everything on his end but we’re still waiting to hear back from the company. When I first applied for health insurance it took about 3 months to all be processed so I’m thinking this is normal (and not something directly related to his mystery illness). If he doesn’t hear back sometime in the next couple weeks we’ll check back with them but I’ve got my fingers crossed everything is in order and our next interaction will be mailing off a check to actually finish the process. Final status = Well underway, but waiting to hear back from insurance company
  3. Open Retirement Accounts. We opened up a Roth IRA in April 2015 and a 401(a) through my work in July 2015. I fund 10% of my pay to the 401, and we’ve saved a little extra here and there for the Roth (but a truly minimal amount…something I’d like to increase in 2016). Final status = Complete
  4. Open College Savings For The Kids. We opened up one 529 for each child in October 2015 and we’ve been funding them with $25/month each ($50/month total). Not a lot, but every little bit helps! Final status = Complete

Overall, not too shabby. I wish we’d started the life insurance stuff a bit earlier in the year so it was all wrapped up and done by now, but at least it’s well underway and if it doesn’t work out it will be because we were denied (not due to our own lack of trying). But hubs’ health has been great and, especially with his weight loss, I’m really hoping everything goes through smoothly and he’s able to be insured. It will certainly give me great peace of mind.

How have you done on your financial (or other) goals in 2015? Do you have any new goals or resolutions set for 2016? I’d love to hear them!

 

Ashley

Texan at heart; Arizonan on paper. Lover of running, cheese, camping, and family (fur-family included!). Blogger, motivated to get out of debt YESTERDAY! Follow along with my journey!

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10 Comments

  • Reply Jen From Boston |

    Yay!!! And good job on the wills! That’s the one thing in your list I haven’t done 🙁 Although, to be fair, my employer makes getting life insurance and starting a retirement fund pretty easy.

    I just need to get on the ball and write up a will, especially since I’m engaged and living with my fiance. Legally, we’re in a pre-marriage limbo where he wouldn’t automatically inherit my home if I dropped dead – it would go to my parents (who are divorced). So it would be a little messy if I died instestate.

  • Reply debthaven |

    Kudos to you Ashley! And thank you for always updating and being consistent. Even if we’re only on the outside, we grow to care about you all.

  • Reply Jay |

    Great Job! Just curious, what about life insurance on you? Although work insurance is sometimes provided and less expensive, it is not portable. If you were to die after a long illness, chances are that no work insurance would apply. Plus if you change jobs and become uninsurable for some reason, you can always keep it. I took out 20 year term on both my wife and myself, figuring that that would get the kids through school in any scenario.

  • Reply Sarah |

    I’ll be shocked if he is denied life insurance…you may just have to pay the piper to get him insured.

    • Reply Ashley |

      He was denied when we tried last year. They said to wait a year and re-apply so I’ve got fingers crossed that it all works out!

      • Reply Sarah |

        I suppose maybe because it was too close to his strange illness. I have a friend who has Type 1 diabetes…just turned 50. They offered $500k life insurance for $3500 per year.

  • Reply Walnut |

    Nice job, Ashley! Are you going to set a couple more goals like this for this upcoming year?

So, what do you think ?