I love my wife and kids more than anything else in this world.
I know that when I say this, I’m not the only person in the world who feels this way about his/her family. And I hope this is true for you as well.
One of the difficult parts of being a financial advisor is that I often get into stories with people about how they or someone close to them, lost a family member long before it should have been their time.
Unfortunately, every year I hear about someone who left this world too soon. I believe all of us hate to hear about someone’s death, and for some reason, even when we don’t know the person, it affects us deeply.
As a financial advisor, I talk a lot about the future with people. We talk about retirement. We talk about making sure the money we saved lasts long after we retire. And unfortunately, we talk about dying too soon.
We set up our plans for retirement, because one fear many of us have is living longer than our money.
We unfortunately need to also discuss what would happen if we leave this world too soon.
My hope for my family, friends, clients, and for everyone for that matter, is that when someone passes away too soon, the last thing on any loved one’s mind is money.
A while back, I wrote about The Top 2 Reasons People Don’t Have Enough Life Insurance.
It is scary how many people don’t have enough life insurance.
And it’s crazy how inexpensive life insurance has become over the past few years.
Ask yourself: If something were to happen to you today, how long could your family financially survive without your income?
For example: if you make $100,000 a year, and you have $500,000 of life insurance policy, most likely your family could only survive about 5 years without your income.
During those 5 years, your family would have to make some drastic changes to their lifestyle before the money would run out.
It’s important to know how much life insurance you actually need. It’s also important to learn about the different types of insurance, and which one is best suited for you and your specific situation.
Don’t listen to the financial “gurus” on TV who might say there is only one type of insurance that everyone should buy. And don’t buy your life insurance from some website just because it may be the cheapest.
Life insurance is a very important decision that should be taken seriously!
Educate yourself and talk to a qualified life insurance advisor who cares about your specific situation.
If you do ever need life insurance, tax, or financial advice focused on your specific situation, feel free to contact me anytime.
*Please keep in mind that all the information I post on this site is for general purposes only. I understand that every person’s situation is unique and should be treated as such. If you would like more information about how something listed in any of my posts specifically affects you, please feel free to comment below, email me, or call me anytime.