annieology

Now that we are out of debt, and the kids are back in school, it was time for me to go and review my retirement investments, and finally set up that ROTH I’ve been putting off for 10 years.  I know, bad, lazy choice Annie.  But it’s done, leave me alone.

I have missed ten years of tax free growth.

I’m an idiot.

But it’s in the past.   Although, I will continue to kick myself.  Ten years.  My pastor says God restores wasted years, let’s hope that also applies to the ROTH.

ANY way….

I sat down with some suit who was prepared to tell me what I should do in order to be able to retire at 50 to a small island.  OK 52 the kids aren’t coming to my island, except for Christmas.

He was not prepared for me.

I told him, we max out Hubby’s ROTH.  Then we will max out my ROTH.  Then we will go back to contributing to the 401K at Awesome Inc.  where Hubby works.

No, no, no says the suit.  Daddy Awesome makes too much money for you to be contributing to the ROTH.

No, no, no I tell the suit.  We file jointly.  Jointly we are under the limit, and can contribute the max to both his and mine.  And since Hubby gets bonused in the spring, there are no Christmas bonus surprises that could put us over the limit.

“But,” he tells me, “you do not have an earned income.”

I remind him of my last statement.  The filing jointly thing, that’s my ticket to the ROTH.

“Do you want to go check the Google?  I can wait.  I got all day.”

He did.

I was right.

So, we set me up a ROTH.  And by “we” I mean neither of us, he told the lady at the front desk to do it while we discussed the rest of my financial picture.

Debt?

Just the house.

Cars?

Paid for.

Credit cards?

Nope.

Mortgage?

Less than $100,000 – as soon as we stop paying our attorney’s house payment, we’ll be after our own.  Goal is to do it by 40.

That’s soon.

Yep.

We talk income, and life insurance, and how in the heck we are going to send six kids to college.  I told him I’d already made those decisions.  Life insurance:  In addition to what we have we need $1 million each 15 year term to get the kids out of the house.  College was not our priority at the moment.  Get rid of the mortgage and we can cash flow the next two if they can meet our stringent requirements for getting the Awesome Family Education Trust.  Which is the kid pays for the first 25% and we pay for the rest.  Dagan did not take advantage.  It’s  likely that we won’t be paying for any college for at least eight years when Radical gets there.

We talked Hubby’s retirement accounts.  I told him, I didn’t know much about them, but that they appeared to be doing well considering.  He wants me to bring those in to “review” (transfer to his account management).

We then discussed the possibility that the state would give us money for post adoptive services ahahahahahahahahaha.  I said that in the event that they want to cut us a monthly check that money would go into a living trust and be distributed to all six of the children when they reached 30 if they met certain requirements like not being crack heads and stuff.

I asked how he planned to distribute my ROTH.  He said Growth.

I said Growth, Growth and Income, Aggressive Growth and International.

So, front desk lady brings in my ROTH paperwork.

He asked if I brought my check book.

Hahahahahaaha.

I told him I don’t bring check books to a sales meeting.

I think he was annoyed.

I think he also wants to marry me.

This entry was posted on Wednesday, September 2nd, 2009 at 11:11 am and is filed under Kindle, Me being Awesome, No Credit?, annieology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.