- RT @mymoneyshrugged: The government breaks your leg, and hands you a crutch saying "see without me, you couldn't walk." #
- @bargainr What weeks do you need a FoF host for? in reply to bargainr #
- Awesome tagline: The coolest you'll look pooping your pants. Yay, @Huggies! #
- A textbook is not the real world. Not all business management professors understand marketing. #
- RT @thegoodhuman: Walden on work "spending best part of one's life earning money in order to enjoy (cont) http://tl.gd/2gugo6 #
Saturday Roundup
First, the shameless self-promotion:
If you want to see the glorious wisdom that is my Twitter feed, follow me on Twitter. I’m @LiveRealNow.
Please take a moment to subscribe to Live Real, Now by email. You get a choice between having all of the posts delivered to your inbox, or just occasional updates and deals. Both options get my Budget Lessons, free of charge, including exclusive access to articles that are not published anywhere else. Woo!
If you prefer to get all of you information and interaction on Facebook, become a fan!
And of course, there is always the wonderful RSS subscription.
The Best Posts of the Week:
- Cover of Monster Hunter International
Give the gift of kidneys so that Larry Correia can murder you for charity. Larry is the author of Monster Hunter International and Monster Hunter: Vendetta. Both books are excellent mind-candy, if you like explosions and monsters that, well, explode. Save a life and get murdered at the same time. Who could ask for more?
A V-8 only insinuates virility; multiple child seats prove it. With a title like this, and multiple car seats in my car, I have to include the post.
And finally, here are some tips to save time with email: Email Sucks.
Finally, a list of the carnivals and blogs I’ve participated in:
Dustin at Engaged Marriage was kind enough to run my guest post: Arguing Fairly with your Spouse.
I was included in the Carnival of Personal Finance with Check Your Bills.
Repair Plans, Appliances, and Rancid Meat…Oh, My! was included in the Carnival of Money Stories.
Selling Your Home: The Real Estate Agent was included in the Festival of Frugality.
If I missed a carnival, please let me know. Thanks to those who have included me!
Answer: How Much Term Life Insurance Do I Need to Buy?
From a question posted here:
Thank you for all your help in my previous question. After meeting with the agent, I’ve decided on term life insurance over whole life. But I am still not sure how much term life I should buy. Should I buy as much as I could afford or some specific amount?
My answer(edited a bit):
That question is far too open-ended.
Are you married? If yes, are you the primary breadwinner? Do you have children? Investments? Savings?
Here’s my situation:
I am married, with three children. I have the primary income.
We have a mortgage, a car payment, and some consumer debt.
I added up all of the debt as my base level of term life insurance. My family will not be burdened with debt if anything happens to me.
To the base level, I added 5 years of my net income. Without changing a thing, my family will be supported exactly as is for 5 years if I die. They won’t, however, have the same level of expenses, due to the base level of insurance paying off all debt. All of my living expenses also evaporate. For example, there will be one car sold, one less mouth to feed and body to dress, etc.
I figure with the lower expenses and no debt, my insurance will support my family for 10 to 15 years if my wife manages the money right. If she continues to work, it should last almost forever.
How do you figure the “right” amount of life insurance?[ad name=”inlineright”]
