We bought this house over 6 yrs ago.
All projects are done except the steps onto the south end of kitchen porch (left side of house) , but material is on site. AND we decided since Hubby's mom is using walker with wheels (and possibly a wheelchair as she had polio as a child) that we would remove some of the gravel at the end of the ramp we put on front porch and put in a cement pad to would connect to the cement pad that is already to the left of this photo. Amish tie their horses up there as N put a horse rail there with cement pad.. E said he could help with that if Hubby needed him and E thought he could borrow a mixer if they poured the concrete themselves. Amish have several cement mixers.
I have garden seeds. Our electric company figure out what it costs me to have my grow cart on for 3 months. They were shocked a bit of the increase but I reminded them that this is NOT LED. These are 120 watt fluorescent and there are 12 of them.
All debt is paid off except the house. We do need to save to replace Silverado so I am saving for it also as I really do not want a loan.
IRS changed rules on inherited IRA, I now have to take RMD from Daddy's IRA. After talking with Hubby and then my Finance guy WE decided that I could use that IRA to help pay off the mortgage. It won't pay it off fully but it will take a healthy bite out of the debt.
Hubby asked for me to write out the plan
First is we continue to pay the extra we pay now
then we add the money I am getting from IRA (finance guy said it would last about 1 1/2 yrs) I am not touching my own investment unless I have to.
Both being on Medicare as of Jan 1st will save us $9,216 in health ins and out of pocket. Divide that between mortgage and saving for car replacement.
When I track the budget, anything under budget the money automatically goes to savings for when it is OVER budget (like Christmas lights) as I know Jan electric will be over the budget while late spring is always under budget. ANYWAYS... what ever is NOT used in the budget by next Dec will be split between savings and mortgage.
Money saved with coupons or sales will go in savings and on mortgage.
I printed off a year's spread sheets of each category for the budget. Hubby will do it on paper but not on a computer even if it's on HIS computer. I think his dementia messes with him there where he always kept books when farming.
Welcome to the ride LOL
Prayers for Peace
Blessed be
Posts
I took my required distribution from my Mom's IRA this morning. Now I need my siblings to do the same or we will all pay a penalty. It's like pulling teeth from hundreds of miles away!
ReplyDeleteMy brother was calling me before our finance guy was LOL.We agreed if one of us caused the other to pay taxes the one causing it pays the taxes for both of us. I offered it in writing because of HIS age to protect his wife as she is disabled.
DeleteI love your house.
ReplyDeleteTerri from Blue House Journal here...I can't sign in to Google on blog comments any more. No clue why.
ReplyDeleteANYWAY...I just worked out our budget for the year ahead and I'm on the ride with you! lol. I will go on Medicare this year and while it's not an immediate savings for me to be there, I'm hoping that it means the government will stop getting ALL of my tax refund each year for 2024 taxes. I have tried to figure every single thing we pay for and I probably missed something, but I've done the best planning I can do without knowing exactly what all will happen next year but I've done my best. Good luck to us both!
I forgot school taxes as they are not taken out of our money and tax preparer price which after this year will decrease as Hubby closed the business
Delete