Exit Strategy

I've been noodling around with what comes in the next phase of life for a while now, and have finally decided it is time to take things a little more seriously now.  I want to try and get things in order so if (when) something happens to me the Mrs. will be somewhat taken care of.  It ain't as easy as it may sound.

First of all, everyone has an opinion and of course they are all correct.  So you read it and take some of it and come up with your own answers.  Insurance, social security, health care, all important thins to consider.  There just can't be one correct answer for everyone, so you need to take a look at this stuff from all different angles.  You never know what the future will hold, and conditions change all the time.  Still, there comes a time when you need to start having some sort of a plan, and I guess the time for me has arrived.

I have 8 semesters of college to take care of.  Can't believe Stew will only have a year left, and Aleah will be half done come summer.  The Mrs. and I are covering the tab.  We have told the kids this is there inheritance, and not to expect there to be anything left when we pass on.  Don't know if here will or not, but if you don't have expectations you won't be disappointed.  We are fortunate to be in a position to do this, but we saved over the years and it's worked out.  I don't think of it as a burden but a privilege.  The only other thing is the mortgage, and the house is worth more than we owe, so we are okay there.  And the rates are so low I don't think you really want to pay it off early, except for piece of mind.  We'll work on that after the tuition is done.

Need to look at the insurance.  More life insurance?  Probably not---don't want to make myself worth more dead than alive.  I have to sleep here ya know..only kidding Cath.  Life insurance is good, need to look at long term care though.  That is probably my biggest fear, winding up in a nursing home just having it suck away everything you ever had.  Also have to look at the health insurance for retirement, especially before Medicare kicks in---if it will still exist.

 The Social Security deal is another vexing problem.  Draw and suspend.  Spousal benefit.  Wait until your seventy.  Draw at 62. My dad died when he was 67.  I'll be damned if I am going to wait until I am 70 just to have a bigger check.  I  need to find a chart or a web site or probably just do the math to figure out how long you have to live before it makes sense to wait to draw Social Security.  Right now I'm thinking a bird in the hand.....

Of course, the Mrs. and I are fortunate to have traditional pensions, with defined benefits.  I have to laugh at people who give me static about it too.  All you high fliers from the 80's with your high paying jobs who had all the travel and fancy gizmos are now complaining about me having a pension.  But guess what?  There isn't one of you who couldn't have done the same thing I did.  Dream job?  Hell no.  But it paid the bills and actually will allow for a comfortable retirement.  Good for me.

So what are we gonna' do if I can get all this stuff figured out?  Well I don't really think the kids are coming back here after college (who knows), but if they don't I don't really see us staying either.  I really am disliking winter the older I get.  Too far south is too hot for me though.  We need to find some place in the middle of it all--would like to somehow avoid the devastating weather too.  We'd like to travel, and am sure we'll get some of that in as well.  Just take some time and enjoy the world around us. 

Actually anxious to see how all of this is going to work out.  I hope the health holds out, and the economy holds out, basically the world holds out to see what the stage of life is going to hold.  Hopes it's good