As usual, I kissed my husband goodbye last week before he headed off to work and said “drive safe”. Then, since I have no control over my sleepy mind, it hit me that if Mr. BFS got into a fatal accident on his way to work in really cruddy Houston traffic, not only would I emotionally shut down and be lost to the outside world, but financial life as I know it would crumble too.
We both have life insurance through our jobs – enough to cover a funeral, paying off the rest of the house, and about a year of living expenses. We also have an emergency fund, retirement accounts, and stock invesments that could cover another 2-3 years. We also never had or needed to get out of credit card debt and have no other consumer debt either (but if you have debt, look into the debt snowball). So if one of us died, the other one could very easily survive, BUT most of our financial decisions are made with long-term goals in mind.
Those goals would just vanish overnight.
I’ve been with my husband since I was 18 years old. We have made all of our financial plans in life with each other on our minds. Even our investment strategy is couple-minded. Think about the goals I’ve mentioned before:
- Funding a 2nd Roth IRA – I couldn’t and wouldn’t do that if I was alone.
- Renting out our house when we move into a larger one – I’m not sure if I’d even want to keep our house. I’d cry every time I saw anything at all since we arranged and picked everything out together.
- Early Retirement – I personally only want to retire early since Mr. BFS is going to be retired as well. I don’t want all that time on my hands by myself. I know that life would go on, I may find a new partner, I would have my friends and family, BUT those scenarios would still entail having different dreams.
I don’t even know how to think like a single person anymore. I personally LOVE that, but it does mean that Mr. BFS can never die. Ever. Now if I can just make sure he knows that. 🙂
Anyway, after having all of this flash through my mind before I was even out of the shower, I can honestly say that I am truly thankful for the life we have now. I can also say that last Wednesday morning was a little depressing but I feel much better now. I got to thinking that one good thing about traffic is that it doesn’t allow for very fast accidents, lol.
With some luck, Mr. BFS and I will be able to live into our old age as planned and I’ll never have to readjust my financial outlook by myself.
I usually have a question or two to ask all of you, but anything I come up with just sounds sad. Feel free to share your worries below or a funny joke to deflect, lol. 🙂
FYI: I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year. I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home. If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!). Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!