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.