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Archive for May, 2011

What do I do with my mortgage for retirement?

May 23rd, 2011 at 11:07 pm

Because I divorced my husband, I had to give him all the equity from the house as part of the divorce settlement.

I'm 55 and I hope to retire at 68. I don't think I can pay off the house in 13 years (I have 91K left on the loan).

However, my total monthly mortgage is $760, which around here is less than rent. So any suggestions? I would like to live to 85 and have it paid off.

I have no children, but I'd love to give the house to my nephews or nieces who might need it. Any suggestions.

My estimated retirement income is $2,000 a month.

And does anyone have any thoughts on the ethics in selling me a mortgage I might not live to pay off?

I missed a mortgage payment

May 19th, 2011 at 04:22 pm

I have never done this before, but somehow I missed a mortgage payment.

ARRRGGGGGGGGGGGGGGG.

Maybe I was having a senior moment? Brain damage?

I have a confession to make. Even though I am good at saving, I haven't been able to reconcile my checking account since the divorce. I'm always showing I have way less money than the bank (which I guess is good from the Bank's point of view).

I think it has to do with the emotions of him closing out all our bank accounts and leaving with all the money.

Anyway I paid the payment and the late fee but I feel like I either am losing my mind or 5 years old with no right to run around managing my finances.

Aiiiiiii.

Have a great day guys.

My bank raised fees for IRA's

May 17th, 2011 at 05:36 pm

My bank now charges $30 a year for IRA's - I'm disgusted and I'm planning on moving it to another bank.

Is anyone else getting new fees?

Got a $50 gift card from my bank!

May 8th, 2011 at 03:56 am

I earned $1000 on my savings account and the bank sent me a gift card for $50 and if I keep the account at that level for a year, I will get another $50 gift card. Way better than interest. Since the account is my emergency unemployment acount, God Willing, I won't need it and get the $1000.

I cleaned out my closet and laundry baskets. I had planned on going shopping for socks, and found a whole drawer full of various colors of sock. I also found a bunch of good clothing I can use, toss rags, and gave about 8 bags to Goodwill and got a tax receipt. I feel sort of powerful and also rather serene having cleaned up junk and made my house more organized. I have socks in one drawer, under wear in another, shorts in another, night time wear in another and i have work clothing in one part of the closet and slacks and fun top and church clothing all in clumps so its easy to find things.

I'm going to toss the rest of the junk in the room and then paint it and clean the carpeting. I may make the room into a foot reflexology room and do that at my house for people from work. Its a thought for doing a second job that doesn't interfere with work.