life insurance

Mainly For the younger crowd, though pertinent for most.  Nothing pisses me off more the "GoFundMe's" after someone dies.

Happy Friday

"If someone depends on you or your income, YOU NEED LIFE INSURANCE.

I only recommend TERM insurance. It's best to get a term life insurance policy that's worth 10 to 12 times your annual income. For stay-at-home parents, I recommend a policy valued between $250,000 - $400,000.

Whole life insurance is what most insurance companies will try to sell you. It's expensive, and it's one of the WORST financial products out there. The only people who think you need whole life insurance are the whole life insurance agents who want to make commission off of you for your WHOLE life. I only recommend TERM life insurance. Why? — You get the same amount of coverage for about 5% of the price of whole life insurance. A term life insurance policy lasts for a set number of years (a term); I recommend getting a term of 15 or 20 years. During that time, you'll pay a VERY low rate each month for the coverage amount you need. 

During that 15 to 20 year term, if you're following my 7 Baby Steps plan, 3 things will happen:

1. Your kids will grow up and move out on their own.

2. You will pay off all debt, even your mortgage (remember, I recommend no more than a 15-year mortgage)

3. You will consistently save and invest at least 15% of your income each month.

So, picture this: You're 15 to 20 years older than you are right now... you've got no more teenagers to feed, no debts to pay, and there are hundreds of thousands (probably millions) of dollars in your retirement investments. You're SET! If you passed away with no life insurance, your family would be fine financially. You will have left a legacy that reminds them you cared for them deeply, and you wanted to make sure they'd be okay. A huge reason you'd be able to do that is because you weren't giving hundreds of dollars away each month to a greedy whole life insurance company.

🚨 If you already have whole life insurance, but you're thinking of switching to term, DO NOT cancel it UNTIL you've got your new term policy in place! I don't want you to go without any coverage during that in-between time."

-Dave Ramsey

Funny shit....this bozo has no idea how much I've given folks .. to fund raisers, over the years... he's missing the fucking point.   MOST do NOT have to put their families in the situation to start with .. JS