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My Father’s Caretaker and Long-Term Financial Implications

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You know the feeling where you’re so overwhelmed with important tasks and to do’s that you can’t do anything and you end up just taking a nap?

Yeah. That’s where I’m at. Not so much with the napping part (though it sounds nice). But, hello little bloggy! Here I am “talking” to you instead of putting my head down and pushing through some pretty important to do’s.

Let’s talk about yesterday.

Longest. Day. Of. My. Life.

Reeeeeeeaaaaaaaaallllly long.

Between my 2 siblings and I (3 of us total), I totally thought I was the most mentally prepared to face my Dad’s health issues. I’m not a super emotional person. I look at things scientifically. Matter-of-factly. I’m a realist.

So I went to this appointment feeling fully prepared to hear what I thought would be “worst case scenario.” I had already in my mind an idea of what I thought that scenario would be.

Nope.

I was wrong. So, so wrong.

It’s worse.

Prognosis is not good. Again, wanting to maintain some privacy for him and not give too many of his personal details, I’m going to be intentionally vague (you may be able to figure it out – which is fine – but I don’t want to just put it all out there on a silver platter).

My dad has a progressive, degenerative disease for which there is no cure. Eventually he will die of it (or complications related to it). Not today. Not tomorrow. But his life span has just been dramatically reduced. He just turned 59 in March. Quite young, relatively speaking.

I will also tell you that the thing he’s been diagnosed with can be genetic. If one inherits the gene mutations associated with this disease, there’s a 50/50 chance of developing it as some point.

It will cut life short. Most people are diagnosed in their 50s, and life expectancy at time of diagnosis ranges from 2-10 years, with most living in the 5-7 range. My dad managed to go undiagnosed for a long time. It’s unlikely he has 5 years. Probably closer to 2. If we’re lucky.

What does this mean for me?

Well, if I have the same gene sequences, there’s a 50% chance I’ll someday have the same thing. That means my life expectancy will be drastically cut. According to here  my life expectancy is 78.7 years (white female born in 1983). But instead it might be closer to 55 or 60. 65 if I’m lucky.

What my Dad has is not curable at this time. There’s also no way to prevent it.

So I’m going to ask my doctor for a referral to a genetic counselor. I want to know if I have these gene mutations. If I have them it’s not a guarantee that I’m “doomed” (again – only 50% chance of developing the disease). But it will undoubtedly change the way I live my life. Knowing I may only be around until my girls are age 30; knowing I may not have the long retirement we all dream and plan for; knowing my life may go in a very different direction than what I would hope.

Unfortunately for this get-out-of-debt blog, many of these long-term implications are financial in nature. I certainly don’t want to leave my family in financial ruin (and I still have every intention of paying off all our debt). BUT I’m not going to put off vacations to once a decade. I’m not going to live bare bones with the hope that someday I’ll be able to live this fabulous life full of fruits and riches that may never end of happening.

Maybe I’m still in a bit of shock and some of these feelings will fade. The emotions are raw right now.

I’m devastated. For my Dad. For my siblings. For me. And for my daughters (God, please don’t let them have this gene mutation!!!)

Sorry to be such a downer today, but this is literally ALL I can think about and I always try to be open and honest with you all. It’d be completely phony to act like nothing is wrong when it feels like the ground has just opened up beneath me.

 

So emotions aside, let’s talk about genetics. And money. Specifically….money for genetic testing.

Anyone know anything about that? It’s probably expensive, huh?

I changed my insurance. I was going to do a Health Savings Account, but I had to switch to a PPO. There’s a chance my Dad may come to live with us for a bit and, if so, he’ll be my dependent and added to my insurance. He’ll need a lot of care so it makes an HSA not beneficial.

Plus, I think my PPO plan will pay for some genetic testing to be done. Remember when I had a genetic screening for the gene mutation responsible for breast and ovarian cancer? That was fully covered under my PPO and my new job’s coverage is the same plan (Blue Cross Blue Shield PPO), so I REALLY REALLY hope they’ll cover some additional genetic screening to be completed. I know this is an area of intense debate. Several commenters were against my last genetic screening. But every person is different. For me, I feel like I NEED to know.

Plus another perk, with the PPO plan a vasectomy is only $30! Remember when we had that conversation?

So I’m just chugging right along. Possible big financial changes ahead (particularly if my Dad does, indeed, move in with us. Still discussing options with the siblings right now). I don’t even know what a best case scenario looks like. There is no best case. Just a bunch of crappy, more crappy, or slightly less crappy options. Just a bunch of crap.

Is it Friday? Thank goodness for that at least! I plan to spend the weekend squeezing my daughters tightly, playing the tickle monster game all day, and just generally smothering them until they tell me to go away because I just want to soak in their sweet little toddler spirits. God bless children for being a rainbow in the midst of a storm!

Ashley’s July 2015 Debt Update

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And, just like that, it’s time for another debt update!

This month has flown by! I think between our trip back to Texas the first week of the month and starting work in the middle of the month, I feel like I’ve barely batted my eyes and the month is nearly gone! But I’m happy to report that even with as fast as the month feels like it’s gone by, I’ve still made some decent progress on my debts. Keep in mind, I haven’t received a paycheck yet from my new job and we live on last month’s income, so there will be a month lag behind when I start receiving income and when I’m able to really bump up my debt payments. So this debt update only accounts for our regular income (from hubs’ business and my part-time job).

PlaceCurrent BalanceAPRLast Payment MadeLast Payment DateOriginal debt, March 2014
Capital One CC-17.9%-Paid off in March 2014$413
Mattress Firm-0%-Paid off in May 2014$1381
Wells Fargo CC-13.65%-Paid off in May 2014$7697
BoA CC-7.24%-Paid off in June 2014$2220
License Fees-2.5%-Paid off in April 2015$5808
Navient - Federal Student Loan$36638.25%$266July$4687
ACS Student Loans$210397.24%$77June$21035
Navient - Dept of Education student loans$666146.55%$257July$63254
PenFed Car Loan$136652.49%$1000July$24040
Balance Transfer student loan (Former Navient 1-01)$48370% (through April 2016)$500July$5937
Medical Bills$60610%$25July$9000
Totals$115,871 (June balance = 118,051; May balance = 117,815)$2125Starting Debt = $145,472

Do you remember how last month I complained about my student loan balances going up, in spite of the fact that I’d made extra payments?? I’m still so confused about the whole situation (and, take this as another reason why you should avoid student loan debt like the plague!) because I had the same thing happen with BOTH of my loan service providers. That indicates to me that this is not an error on the part of my student loan company, but on the part of the national government (since my loans are government-backed). Does this even make sense? I must admit ignorance in that I don’t know how all the backchannel stuff works between governmental agencies and the student loan companies. But regardless, last month BOTH of my companies reported that my balances had gone up. This month, it looks like whatever error existed has been corrected because now both balances have gone DOWN more than they should have with just this month’s payments. It looks, to me, like whatever interest was added last month (which shouldn’t be added to any subsidized loans since I’m on Income-Based Repayment), has been removed and I’m back to the normal sized balances. So I guess that’s a sigh of relief.

You’ll also notice that I’ve made higher payments to my Navient loans – particularly the Federal loan. The federal loan is my highest APR loan. The minimum payment is only $16, but I’ve routinely been paying $116 for months. This month, however, I decided to really bump it up a bit more – to $266 (that’s the $16 minimum + $250 extra). I maintain primary focus on getting rid of the car debt (sooooo close to being at the half-way mark with the car debt and it’s going to go quick from there!!!), but I also wanted to beef up my Navient federal loan payment a bit, too, given the low balance and high interest rate. Forward progress!

I can’t wait to see what progress we can make once my new full-time job paychecks start rolling in! Wahoo!!!

And last note related to the job – I still haven’t been able to meet with the department head to ask about keeping my part-time job. A new department head has just taken office (so it’s not the same person who hired me anymore), and we were supposed to meet this week but I was emailed by the administrative assistant and told we’d have to push the meeting back to mid-August. I haven’t even met the department head yet (I think she’s working from home this summer because my office is right down from hers and I haven’t seen her), so I’m waiting to ask about it until we meet in-person. In the meantime I continue to work both jobs (doing the part-time job early morning and late evening). When I was hired I was currently teaching online for my part-time job and everyone knew about it so I’m assuming that my summer teaching is okay, though I’ll feel much better once I get official approval (fingers crossed) that I can continue teaching future semesters, too. I don’t expect my fall part-time contract until August, so the timing should work out in terms of asking permission and officially committing to continue teaching part-time.

On a more personal note, I’ve prescheduled this post because TODAY is my out-and-back trip to be with my Dad for an important doctor’s appointment. I’m not sure everything the appointment will entail (likely just a review of all previous tests and ordering one final additional test), but there’s a slim chance we could receive an official diagnosis. You may recall that I’ve said before I feel fairly confident I know what the diagnosis will be so this is just a matter of having it confirmed (side note: he was given a preliminary diagnosis already by another doctor, but this is a specialist, so we’re very interested in what he has to say). I feel like everything is “on hold” until we get the diagnosis and then the world will feel like its been turned upside-down, but at least we can start moving forward with the next steps and making a plan for the future.  I’ll have a lot more to say on the future financial implications once we know for sure-sure what the diagnosis is. So send happy/comforting/diagnosis-finding vibes my way : )  Not getting my hopes up for receiving a diagnosis just yet, but it sure would be nice if we get one today!

Happy Thursday, friends!