Thursday, October 13, 2011

a real adult

I feel like a real adult now. 
I received some inheritance money from my grandmother, it was a nice chunk of change so we invested in our future.
I set up a Virginia 529- an education investment account for the kids college tuition.  It is only $5,000, but it is set up to withdraw $50 quarterly starting in January so hopefully we can have some money saved away for their education expenses when the time comes. I also hope that we can add more money than just $50 quarterly too!
I also set up a Roth IRA account, it too is only $5,000 (the max you can put in in a year), but I plan to add additional money into it so we can have money for retirement.  We have no money currently for retirement, I had cashed out my Virginia Retirement when I quite teaching since I didn't know if I would return to teaching and it was very little ($2,000), now I wish we had kept it, but at 27, retirement doesn't seem necessary.
And finally we have $15,000 in mutual funds that will hopefully grow in 5-10 years so we can have money for a car or house or what it is needed. 
It feels good having money set aside for the future, to have money in case the worst happens.
We also used some money we also used the money pay off our car so both of our vehicles are paid for, it feels good and I hope I won't have a car loan again (or at least one with interest).
I feel like a real adult now, a real responsible adult, a grown up.

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