View Single Post
Old 11-21-2018, 01:23 PM   #2434
Great Expectations Great Expectations is offline
MVP
 
Great Expectations's Avatar
 

Join Date: Dec 2008
Location: Joplin, MO
Casino cash: $13972338
Quote:
Originally Posted by lewdog View Post
I bought a 30 year Term life insurance policy in my mid 20’s. It expires when I’m 56. Worth $1M and I pay $70/month. After that I should have enough saved for my family if I die. You shouldn’t buy full life insurance if you can plan for the future, that’s why term life insurance is recommended for younger people. Term is a stop gap until you build to that point and it’s cheap for large coverage.

Rainman, I’d say you’re right on with your recommendation.
This is definitely the smartes way to do it; now you just need a trust to help with potential future tax liabilities.
__________________
http://chiefsplanet.com/BB/signaturepics/sigpic11348_1.gif
Posts: 7,200
Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.Great Expectations is too fat/Omaha.
    Reply With Quote