It’s been a little while since our last post and we don’t want anyone to think we disappeared. It’s just been an incredibly busy week with planning for vacation, Mr. Joe is working on a huge project at work, Mrs. Jane had some doctor’s appointments, etc etc.
In a previous post, we discussed that Mr. Joe got a bonus this year that exceeded his expectations. He also recently passed a milestone at work, 5 years employed. He got a phone call to attend a recognition meeting. Well, not only did the company reward his work with that bonus, the meeting he was called into wasn’t just to recognize him for 5 years but to let him know that he would be receiving a $20,000 restricted stock award that vests in 3 years. They are sending the details in the mail soon and we’re not experts on what exactly all the intricacies are regarding stock awards but from our research and what he was told:
- In 3 years, the company will gift him stock worth $20,000
- It will be taxed as ordinary income and he has the option to automatically sell shares to cover those taxes
- He can immediately sell those shares if desired (we will likely do this to better diversify)
- In order to receive the shares he must remain with the company for the next 3 years
Essentially, the offer is being made to encourage him to stay with the company for the next 3 years. He had no plans on leaving as he’s enjoyed working there and they’ve treated him well.
Back in late December, Mrs. Jane had an aunt pass away suddenly. Her family wasn’t prepared for this and we’ve been grieving as well as trying to assist with the end of life plans that needed to occur.
What we’ve learned through this is how important it is to be clear in your wants after death. Luckily there are no fights or arguments amongst the heirs but even the little things like clearing out the stuff that we all collect over our lives can be difficult without knowing whether that person intended for something to be inherited by a specific person.
What we’d recommend is to go over your will or trust with all the people that are involved. Let them know your intentions not only in writing but verbally well before you may think you need to. Issues and confusion can be clarified then while you are alive and able to rather than having your heirs think about it afterwards.
We’ll likely do a follow up post with more detail on how we plan and save money on vacations but this current one was done on a short planning timeline. Still we were able to book cheap airline tickets, find a decent deal on a rental car, and just found a hotel for very cheap.
We’ll be leaving tomorrow for that trip through Sunday so our next post will be next week sometime but we just didn’t want to go that long between posts. We’ll get some pictures because someone did request that we add some more pictures to these posts. We’re also working on a Beginner’s Guide to the YNAB budgeting tool as we found some tricks that really help us with using it.