gimme (tax) shelter
we met with some financial guys at thrivent last night regarding a life insurance policy that robin has had since she was a little girl. it was purchased between 1981and 1984 which means it will be a very powerful tax shelter if/when we are ever phased out of contributing to roths or we ever decide to save more than our max contributions. not an issue for the next few years with the tuition we are paying for...but good to know.
we also discussed long term care insurance...not for us, but for our parents. i need to start talking to my mom and dad about it, and you should too. a current policy purchased in your 50's costs around $2000/year. if purchased in your 60's, $3000-$5000 per year and in your 70's...well, forget about it. considering that right now, a month in a nursing home costs $7k+ for one person...it would be well worth it and will reduce the burden on the family and prevent the loss of other accumulated wealth/disruption of any financial legacy for the family.
anyway, these are things that people don't like to talk about..mostly because they are the opposite of fun. but they are necessary, especially as the cost of health care increases.
no riding last night. i felt great which reinforces the idea that i should have ridden harder. i unpacked the car and played with my new golf club until i heard rumbles of thunder.
gm is closing it's plant in janesville. while it sucks for the 2600 employees, it is another sign that the increased cost of fuel is what will ultimately save us from ourselves. people aren't buying the big suv's anymore...and opting for smaller more fuel efficient models. and...it means my 1998 honda civic getting 35 mpg with a roof rack is increasing in value as i write this. espcially considering it's only got 85,000 miles.
i've gone way too long. i guess i have a lot on my mind this morning.
happy tuesday.
we also discussed long term care insurance...not for us, but for our parents. i need to start talking to my mom and dad about it, and you should too. a current policy purchased in your 50's costs around $2000/year. if purchased in your 60's, $3000-$5000 per year and in your 70's...well, forget about it. considering that right now, a month in a nursing home costs $7k+ for one person...it would be well worth it and will reduce the burden on the family and prevent the loss of other accumulated wealth/disruption of any financial legacy for the family.
anyway, these are things that people don't like to talk about..mostly because they are the opposite of fun. but they are necessary, especially as the cost of health care increases.
no riding last night. i felt great which reinforces the idea that i should have ridden harder. i unpacked the car and played with my new golf club until i heard rumbles of thunder.
gm is closing it's plant in janesville. while it sucks for the 2600 employees, it is another sign that the increased cost of fuel is what will ultimately save us from ourselves. people aren't buying the big suv's anymore...and opting for smaller more fuel efficient models. and...it means my 1998 honda civic getting 35 mpg with a roof rack is increasing in value as i write this. espcially considering it's only got 85,000 miles.
i've gone way too long. i guess i have a lot on my mind this morning.
happy tuesday.
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