Since I began this journey, I made a commitment to myself to continue to check in and work on improving my knowledge and application of financial matters. Boy is it exhausting!
Today I finally squeezed in finishing some of my legal documents – I now have a Living Will, a Power of Attorney for Medical stuff, a Will, and a Memorial Planner Information. I still need to spend a little more time on the concept of Estate planning, but I’m not in a huge rush yet as I don’t have that amazing of an estate.
So, let me take a moment to celebrate, YIPPEE!
Okay, I still have to get them all notarized and filed away safely. Sigh, another financial TO-DO.
Next Up on my Financial To-Do List This Month:
- Look into refinancing my home. I just took it off the market as it is not selling. I have an inquiry into my mortgage provider to see if its possible to refinance after you take your home off the market or if they have some type of waiting period. Rates are certainly low, so I do hope I can. Seeing as I have had a major career shift, and the value of my home has probably gone down significantly since my last mortgage, it should be interesting to see if its a real financial possibility for me to re-fi. Crossing my fingers.
- Convert my Traditional IRA to a Roth IRA at Vanguard. I’m willing to pay tax consequences this year if it means that I get to move my Traditional IRA Funds (that were previously my 401k when I was a corporate gal) to a Roth IRA.
- Set up a Roth IRA at Lending Club. I’m going to roll at least part of my Vanguard money to Lending Club
. My experiment with Lending Club panned out to be an awesome choice that I can really support. I am excited to find an investment opportunity that doesn’t make me want to cry and pull my hair out unlike my experiences with Fidelity and Vanguard.
- Get life insurance. I can’t believe I still haven’t gotten around to this. Need to get it done – I’m going to opt for the $500K policy I think. But I do need to do more research into this area.
- Snore. Okay. I find this stuff painfully boring and awful. Thank you to this website for reminding me to stay on track with it. It’ll be worth it one day right??!!
{ 4 comments… read them below or add one }
Would love to hear your thoughts on setting up your legal stuff: living will, power of attorney, and memorial planner, future blog post?
Yes, great idea, thanks. I used a purchased software for it, that had Colorado based information. Something being better than nothing when you can't afford legal fees to review it. I still want to figure out where to store them – at a bank safe deposit or will a home safe suffice? I haven't decided.
What software company did you use? Do they only operate in Colorado? Hmm, the bank or home safe? I think it depends on how much stuff you have to save / how much it is worth?
I used a PC software called WILLPower. I believe it works in other
states. I'm sure there are some other great options out there. Don't
have time to do a review though. If you find some good ones, let me
know!
I'm thinking the important legal documents will fit in my home safe,
which is fireproof, always a nice feature.