September 2024 net worth and other money stuff
September 30th, 2024 at 05:18 pmThe big news this month is we heard from our auto insurance providers. Between the basic car coverage we share with our neighbors and the liability/umbrella stuff we have on our own, they are accepting our claim. (As a recap, NT struck a pedestrian and she incurred considerable medical bills and sued us.) It's still in process but it sounds like we don't have to worry about a giant damages bill. (I'm guessing premiums will go up, but we'll cross that bridge when we come to it. Whatever it is can't be as bad as my fevered imaginings of our life savings being drained!)
That's so big that it's helping me deal with this morning's frustration, that a big hospital is apparently out of network for my insurance, so my annual mammogram came to $1500 (assuming there aren't additional bills from the labs/doctors/whatever, which sometimes happens). Our medical expenses have been well over what I budgeted for this year. It's not the only category to go over budget, though it is the biggest by far. I'm keeping close track of all unbudgeted spending and plan to do a big analysis at the end of the year to come up with more realistic budget numbers and figure out what we need to be making to cover us.
Neil is still in talks with the potential new employer, so if that works out I'm hoping they offer a good benefits package and I can get on his insurance (his current part-time job covers him and the kids well but it would cost a lot to put me on it, so I pay for private individual coverage). If not, I'll find another private provider and make sure the biggest hospital in our area is in network. (Honestly never thought to check because they are so ubiquitous.)
The other big thing that's been happening is my dad is going to build a new vacation home on the property that he deeded over to his daughters. It's not my money (unless you're talking eventual inheritance) but it's my land (shared with 7 other people officially, many more unofficially), so I've been helping with planning and estimates and stuff. Looks like it'll be about $200K plus water and some other things. It's a good chunk of his cash savings, but he also has his 401(k). I don't visit the property very often (it's in rural WV and I'm in MN), but I'm glad he's doing this because the property has immense family significance (my mom is even buried there) and the old house is falling apart.
We also found out my mom had 10% mineral rights on some land that's no longer in the family, and an oil/gas company did a lease offer, but I think it'll be about $16K divided among 4 sisters, so not much after taxes. We may end up using most of it to furnish the new vacation home anyway.
Those are all the big money updates, I think. Our net worth went up nearly $19K in September. CoastFIRE is still coasting; the number we need is $882,871 and we are at $945,679, so that's nice and comforting.