Mom and Her Investments

I was visiting my Mom in Massachusetts a few weeks ago and she is still a little unsure of herself when it comes to her investments. She has been living on her own for about 7 years now and thankfully she now has someone we trust to manage her portfolio. I didn't fully realize that until I was helping her go through some paperwork and she showed me several investments she had made before turning things over to " Bill" the financial planner.

To picture my Mom, think of a little old Irish Nana...because that is what she is. She is from an era when you trusted professionals just because they were a professional. That meant that if you were a lawyer you were a good lawyer, or good doctor or a good banker. My Mother in law is exactly the same way and God forbid we should suggest to either of them that they may be a little misguided in this regard.

One of the questionable investments they signed my Mom up for was a whole life insurance policy for $10,000.00 to cover her burial expenses. She didn't want any of us to have to worry about it. That was where she became vulnerable and trusted the insurance agent to tell her what to do.

First off my Mom didn't need it. Second of all the premiums are payable for 20 years totaling almost $20,000. Third it is not a great savings vehicle. Only about 3.5 percent after the first year. That was listed at 5.25 percent. After asking a few questions (and mind you I am no expert at any investments myself) it became clear that she did not understand exactly what she was signing up for nor did she know that it was not really right for her circumstances.

What was her response? Well they were very nice and they said it would be the right one for me. For a moment I wanted to get on the phone and call the agent who wrote the policy....I still may but at the time it would have embarrassed my Mom. So, I settled for gently asking her to not make any more decisions of this sort without first talking to Bill and then also talking to myself or one of my other siblings.

I know that as gently as I put it she felt chastised and then asked if she could get out of the policy. I am working on it.

I love my Mom and I get angry when I see people take advantage of her. I guess I have to step up a little more often and have some of the money conversations with her. None of my siblings had any idea she had done this either.

My understanding is that whole life insurance is often not the right type for many people and not quite the investment vehicle an agent may make it out to be.

Little Girls

I love my two grand daughters. It is so much fun buying their clothes for them and shoes. I love little shoes for little girls. Oh yeah... I love shoes for big girls too.

My husband has started monitoring me and the shoes I bring home. It really is ridiculous because in the end I wear about four pair over and over. I feel like a guilty and at the same time defiant teenager as he tells me no more shoes until I thin out the existing herd.

I have now resorted into smuggling them in.

I am just drawn to the promise these shoes seem to offer. They are cute and sexy or promise to make me taller than I am which translates to I will look slimmer.... I know it's weird women logic. I was at a fashion show the other night and we were all ooohhing and aahhing over the shoes the models were wearing.

Here the truth...after about four minutes I would be exchanging them for one of my four favorite pairs.

I can still look though...

Saying goodbye

I was off and traveling again this week. I had planned a quick trip to Massachusetts to see my Mother. Unfortunately my sister in law's Dad died just a a couple of days before my trip. We all knew he was ill and that it didn't look good and yet you always hold out hope...or at least I do.

Tim was a great guy and not all that much older than I relatively speaking. He loved his family and his golf. He had a great smile and a warm and easy way. I think in someways he was the father my brother wished he had been able to have.... and in a way he was.

I still have both my parents and I try not to dwell too much on what my life will be like without them. We all know it is an inevitable reality. I do know that I will have many people to help me through when it does happen as I witnessed this week with how we all wanted to be there for Elizabeth and Kevin. For now I am going to try to appreciate what I have an realize that no...it doesn't last forever

Easter in Midlife

First and foremost...for all of you who celebrate, Happy Easter. It is often chilly at Easter but today there was definitely snow in the air along with winds and cold. Some other differences this year:

1. I usually have Easter at my house....this year none of the kids who live out of state could make it home and my step-daughter had plans with her grandparents and Mom.
My husband and I went over in the afternoon to play with the grand kids.

2. Dinner is usually for 5 -9 people...today just my husband and myself.

3. Usually the flowers are starting to bloom.....this year it is still winter.

4. Life is changing again...it's going to take some getting used to.

Tax Season

Well it's almost tax day....we get a few extra days this year but not enough to make a big difference if you are one of the folks who waits until the last minute. As for my husband he likes to get things going the beginning of February. That is because he needs to figure if he can afford his golf trips to Florida.
This is the first year in 32 that we have had no children to declare....the last one left the house last summer and has been supporting himself.
Pretty much it was down in black and white for all the world to see including the IRS. No more kids at home....we are empty nesters. And we have to work a little harder to keep as much of our money for us and not give it to the government.