Meeting Minutes from the Annual Financial Meeting

Here are the results from the annual financial meeting my husband and I held in February:

Net Worth review:

• Mortgage principal on primary home reduced by $11,000
• Non-retirement assets increased $30,000
• Retirement assets increased $61,000

Mortgage:

• Employer Assisted Housing Loan Paid off 10-01-2006
• Pay off date: 09-01-2018

2006 Tax Return:

• $8,000
• Money will be transferred into two individual IRAs

Other decisions:

• Current emergency fund is just right. We will not add to it or deduct from it.

Life Insurance:

• $500,000 for 30 years (approximately $450 per year) for hubby
• Will compare to a 20 year policy before purchasing
• The goal of insurance is primarily to pay off the mortgage.