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Sunday, May 19, 2024

Managing Our Resources: Our Money

Let's talk money! 

By money I mean paying attention to our investments and income, managing our spending, giving, planning for final years care, and estate/death planning. It's a lot to think about and keep current!

Overall we are in good shape. We monitor our accounts and have designated who will inherit, we have run a survivor’s budget for each of us as income streams would be reduced, we track our spending and plan for large and irregular but known expenses, our sons have been told where we keep important information, and when we moved back to California we had new wills, powers of attorney and health care directives drawn up.

Still we have things to do to make things better for now and the future. My to do list is a collection of shorter and longer term items. The ones I can think of related to managing our money are:

  • Get a second credit card
  • Restart giving to important to us charities and our granddaughters’ college funds both of which were put on hold do to the expense of our move
  • Sit down with our sons and DILs to go over our current important paperwork and how we would like our deaths handled
  • Research cost of elder care resources and assisted living in our current location
  • Set up a revocable trust
Anything on your to do list or that you are really glad you have already done?




10 comments:

  1. Both our sons have access to our safety deposit box where our will resides, both are executors, and all will be split between them. Every time I bring up funerals.... I get told to not be morbid, so I am planning on writing what I want for mine, and hopefully Harvey does the same. We do need to look more into where we will go once living in our home becomes impossible.

    God bless.

    ReplyDelete
    Replies
    1. Writing it down is good as long as 5hey know to read i5 b3fore acting

      Delete
  2. Make sure both of you are the authorized user on a card. You both need a card, the credit card company will cancel the card belonging the authorized user who died.

    ReplyDelete
  3. Three summers ago we had our daylight basement converted to an ADA-compliant studio apartment, where we now live. No stairs, lots of light even in the dark Seattle winter. And we have one of our kids living upstairs as a tenant and helper to us. Our intent is to age in place for as long as possible.

    ReplyDelete
  4. Compile a list of professionals in your life. Buy a plot if your intention is to be buried, create a list of ALL institutions along with user names and passwords.

    ReplyDelete
    Replies
    1. Great points. No plot but the others are done.

      Delete
  5. You are very organized. We do have the trust set up for the house. But I'm not sure about anything else.

    ReplyDelete

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