You should have $2MM

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May 14, 2019
10:17:00pm

Archaea All-American

You should have $2MM

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Archaea

Bio page: Archaea
Joined: Mar 28, 2001
Last login: May 4, 2024
Total posts: 93,766 (3,090 FO)

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Messages

Author

Time

How much life insurance on yourself?

insanobueno

5/14/19 10:10pm

$1mill...although I’ve been told I need more

byuguns55

5/14/19 10:15pm

basically 10 years of wages, enough time to get settled and then some.

5/14/19 10:15pm

just insurance? Or insurance + savings?

insanobueno

5/14/19 10:18pm

I'm not sure what you are asking, so I'll say just insurance

5/14/19 10:19pm

I’ve looked at total sum (savings + insurance)

insanobueno

5/14/19 10:23pm

You should have $2MM

Archaea

5/14/19 10:17pm

<< Deleted >>

Buffalo

5/14/19 10:17pm

Enough to pay off the mortgage and all debt. Plus a bit to make life easier. Kids are adults now.

John Doe

5/14/19 10:18pm

Depends on age of youngest child

Big Daddy D

5/14/19 10:20pm

Depends on your age, your kids’ ages, number of kids, age of spouse, how much

chilango

5/14/19 10:20pm

My company does 2x salary by default with option for up to additional 7x.

Colorado

5/14/19 10:23pm

You need more. ASAP

Big Daddy D

5/14/19 10:24pm

You might be surprised at how many policies are portable. 9x seems like plenty

chilango

5/14/19 10:34pm

How much does one need? I’m 43 with about $800K total savings including 401K

Colorado

5/14/19 10:39pm

Looks like it is portable. Just checked the handbook

Colorado

5/14/19 10:41pm

Those portable policies through employers can cost a lot if you leave your job.

Jeffacka

5/14/19 10:45pm

Yeah, I should probably call to check

Colorado

5/14/19 10:51pm

3 million.

cougfanz

5/14/19 10:37pm

<< Deleted >>

5/14/19 10:38pm

That’s a very fine line

crimedog

5/14/19 10:51pm

2 Million, Plus a 1.6 million buy/sell.

YSMACK

5/14/19 10:50pm

Not enough.

5/14/19 11:01pm

<< Deleted >>

5/14/19 11:01pm

$1,000,000

macaroni

5/14/19 11:04pm

Hey...life insurance Twinsies!

byuguns55

5/14/19 11:14pm

Enough that it is a toss up on pwhether they'd just be better off without me

rcbyufan

5/14/19 11:44pm

Enough not to have to use the logic that she’ll remarry quickly and be fine.

5/15/19 5:56am

I'm not going to be around to spend it, so bare minimum

UberDeek

5/15/19 7:19am

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