I Need a Long-Term Plan

Last night hubby was feeling awful and after much debate we decided to wait and see if we should go to the hospital.  He didn't feel like the last few times when he had cardiac issues, rather he thought it was just indigestion (he ate a ridiculous amount of goat at our favorite Indian restaurant for lunch earlier in the day).  After a few hours--and endless questions from me "are you OK?" "are you suuurrreee you are OK?" "should we go now? Now?? Now???" "should I call an ambulance?"--he felt much better so disaster averted. 

My thoughts, in addition to the constant questioning to make sure he just had indigestion and not a heart-related issue which he has had in the past, was that if he suddenly dies, I would be screwed (I tend to analyze potential disaster situations from all angles and for hours on end).  I know that in theory he will go before me--he is 20 years older than I am and mortality data for men vs women being what it is and all--but I would like him to live to at least 90ish.  OTOH, I've known way too many people who have died unexpectedly, leaving their spouse to deal with facing the world alone, in a precarious financial position, with perilous long-term prospects.  Yikes. 

We have been like Siamese twins for more than 30 years (working together, traveling together, always being together pretty much) and he is my favorite person in the entire world and mostly my life revolves around him and he seems invincible and while we are, for practical purposes ready for either of us to die (Will and other legal documents are up to date and such), in theory is one thing, in actuality it would be disastrous I think.

So my long-term plan for if hubby dies before me needs to address the following:

• I don't have a monthly income.  I do gig work and random freelance work but I don't have a job and benefits and financial stability on my own.  Hubby receives his military pension which will stop at his death (we didn't choose to pay the huge monthly fees which would allow his pension to go to me after his death) and he also receives Social Security (which would also stop at his death as I won't be old enough to draw Social Security for more than a decade from now).
• We stopped hubby's military life insurance as the monthly cost of this nearly tripled when he turned 70 and the amount of the insurance decreased by half :(
• We have significant equity in our house and our house payments are really small but the house isn't paid off yet.  Getting our house paid off should be one of our top priorities.
• I am also still making payments on our car.  This should be paid off within a year or so but getting it paid off ASAP would be better.
• I also have a credit card that needs to be paid off.  While the monthly payments are small, the fewer bills I would have to cover on a monthly basis, the better.
• On a happy note, I have very low cost military medical insurance for life even if hubby dies (or at least until I get remarried which I have no plans to do, like, ever.  The things one thinks about in the middle of the night!  eeekkk).
• We have some money in savings but obviously, having lots and lots of money in savings would be better.
• We need to do some repairs to our house.  The HVAC system is getting towards the end of its lifespan, a couple of appliances need to be replaced, and hubby tends to do any repairs needed (me, on my own, DIYing stuff with the help of YouTube videos would probably be disastrous).

So basically, the thing most needed for long-term survival after a spouse dies, is money.  No surprise there but I think most people don't think of all of the financial ramifications of the death of the family breadwinner until after the fact when it is too late to do much but panic.  I don't want to end up in that position (I'm sure I would be quite the basket case anyway, for quite a long time, should anything happen to him) so it just makes sense to prepare for a financial future alone now when I am in a good place rather than after the fact (but I will still hope he lives until 90!).

So my purpose going forward is to ensure my financial solvency no matter what happens.  I need some steady sources of income, to get rid of as many bills as possible, to hammer away at savings, and to get our house in ship shape condition.  This entire topic is scary and sad an awful...

When a Weather Disaster Happens, You Need This Stuff

The last few days have been a whirlwind of snow, icy roads, sub-freezing days and nights, a power outage, and a shuffling of relatives who came for the holidays and were surprised by the treacherous weather. Even though I would much rather hang onto my cash these days, when a winter storm hits, these items can be priceless:

• Flashlights and extra batteries.


• A battery-operated radio.


• A car cell phone charger.


• A cell phone that allows internet access.


• A shovel.


• A windshield scraper.


• Candles and matches.


• A fireplace with lots of seasoned firewood.


• Extra blankets.


• Winter clothing (heavy jacket, hat, gloves) and winter boots.


• Food that is simple to prepare and eat and which doesn't require cooking.


• Tire chains.


• A chain or rope (to pull or be pulled from a ditch).


• Bottled water.


• Pipe and faucet insulation.


• An alternate heat source (like a kerosene heater).


• An alternate cooking source (like a camp stove).


• A full tank of gas.


• Other stuff you can't do without and can't easily access if roads are impassible (prescription medicines, diapers, extra oxygen canisters, etc).


• A generator and fuel.


• A chainsaw and fuel.
  

Obviously it would be pretty expensive to run out and buy all of these things at once, however it is a good idea to start with the things that are most important to you (in my case, flashlights, a radio, and bottled water) and put aside a little money each month to stock your emergency supply kit. Also, many of these items can be bought cheaper than retail by purchasing the items at the dollar store, the thrift store, and at garage sales. Finally, you may not need all of these items. Apartment dwellers probably won't need a chainsaw or generator. If you don't have a car, you can skip the tank of gas, tow rope, and window scraper.

Things Can Change. FAST

So I was going along with life yesterday and all was well with the world. Then we had a Board meeting and life changed pretty quickly. First there was the coup by a few Board members which completely changed the make up, and leadership of the Board of Directors for the company I work for. Then everyone in the office went into panic mode. Nothing has actually changed yet but, politically, the group was very well aligned with the former Chairman and Board. They basically let everyone have free reign as long as the work got done. Now the "axis of evil" group is in power.

I'm guessing this is the kind of thing that happened in Regency England when Kings ruled, people curried favor with the King, and then on a nasty day, the King would be dethroned, or worse, and all of his supporters would find themselves out on their collective asses. Not good.

I am so not political (or politically correct, but that's another post). I also don't play chess but I'm sure that chess skills would come in handy at moments like these as people maneuver two or three steps ahead of each other while the rest of us sit around and wonder what the the Hell happened.

Which brings us to the current situation. Nothing has happened as yet and there is some legal rumbling going on. We don't know how this situation will play out. Either the axis of evil group will be removed or they will remain in power. If they remain in power, things could get dicey. This particular group has a way of railroading people they don't like out of jobs. And they don't like the majority of us. So here are my concerns/comments in no particular order:

• I would like to be out of debt before being dropped from a nicely lucrative job. Although I am working on the debt free thing, I figure it will take at least another year to complete this task.


• I am in better shape than others. One lady who is fairly high up in the organization may very well be one of the first on the chopping block. And she spends like a maniac. I don't think she learned anything from the recession, probably because she had this cushy job and could continue spending with wild abandon, and now if she loses this job I don't know what will happen to her as she appears to be in massive debt. Scary.


• I need to make a plan now and am kicking myself that I didn't have a plan ages ago. In fact, everyone should have an exit plan from their job because you never really know when your employment will come to a screeching halt.


• Some things I won't do. Specifically, I won't work at a job that I don't like and/or work for people I don't like. And after years of watching how this particular group operates, I won't work for them unless they stay the Hell out of my way.


• I need to simultaneously bulk up my emergency fund, pay down my debts, and broaden my sources of income. Immediately.

My task for tomorrow is to come up with a plan so that if worse comes to worse, I will be ready.