You: You’re watching pre-season basketball?

No.  Honestly, I might even watch golf first.

You: What’s wrong with watching golf?

I find it more boring than the prospect of playing it.

You: Wow.  So what’s with the “fourth quarter” reference then?

I’m talking about the fourth quarter of the year, which begins today.  For better or worse, many companies – especially those which are publicly traded – tend to focus on a time period of three months.

You: Why is that?

Typically, corporate earnings must be reported on that basis.  While much has been written  about how quarterly reporting leads to short-term thinking at the expense a of proper long-term outlook, such criticisms typically don’t provide an alternative frequency for managing goals.  While I agree that three months is often way too short to judge an entire company’s progress, Beyond Paycheck to Paycheck is a personal finance blog (and book).  When it comes to personal finances, three months IS long enough to assess your progress towards your goals.

New Year’s Day is exactly three months away.  You have an entire quarter of 2009 remaining.  That’s enough time to make a sizable difference in what your financial situation looks like when you once again make those resolutions.  Here are some suggestions for what you can easily accomplish between now and then (if you’ve already done some of these things, congrats – less to do!):

• Q4 Task  # 1: Start saving. If you’ve already started saving, try to save some more.   Either way, remember: Save early, save often.

• Q4 Task # 2: Begin paying down your debt. But do it with a strategy.  The most important rule of debt management is to Get rid of expensive debt first.

• Q4 Task # 3: Decrease your income tax refund. If you consistently receive a sizable income tax refund, stop the madness. A refund does not represent the government giving you money. Instead, a refund is the government giving you your money back because you allowed them to take too much all year long.  A tax refund is not a savings program.

• Q4 Task # 4: Take advantage of your match. I’ve yet to meet a more compelling retirement planning opportunity than the 401(k) match.  The only reason you might not be taking advantage of the match is because you lack a fundamental understanding of how it works. Change that, first by reading An employer-match is not a corporate dating service. Then do something about it.

• Q4 Task # 5: Make sure you and your family are protected. This could mean insurance. it might also mean passing on insurance.  The most important rule of insurance: don’t risk a lot for a little.  Second most important, don’t pay to protect what you can easily afford to lose.

Just five little things to do to really begin to get your personal finances in order.  None of them will take very long nor require much money.  Just a small investment of both and you’re on your way.  It doesn’t have to be today or tomorrow, but give yourself a deadline.  There’s a quarter of this year left – plenty of time to take the lead in life’s “game” of personal finance.

Following up to my article last Friday titled Health care reform and rude behavior, I thought it would be best to provide a forum for some quick and easy feedback.  We’re going to that over at About.com.

You: Why there?

I am the guide to Retirement Planning at About.com.

You: When do you sleep?

I am sleeping right now.

You: Seriously?

Of course. This went live at 4AM.

You: Right.

Here are two short posts at my About.com site where you can do a very quick read and then vote as appropriate:

What’s health care reform have to do with retirement planning? Learn why health care reform is such a big deal to your retirement planning efforts – then vote as to how you think reform will ultimately impact your medical spending.

When will Congress reform Social Security? It’s not as though health care reform is the sole looming domestic spending priority.  Social Security and Medicare are right behind it.  Take a look at this wrap-up. Then,  take a shot at predicting when (I would never make you guess how) Congress will actually get around to changing the system.

Thank you. Now I can go back to bed.

You: Wait a second. This is a personal finance blog. Why are you weighing in on health care reform?

First, I’m not actually weigh in on what plan should be followed.  Rather, I am reporting some observations about our behavior. Second, health care reform is very much a financial planning topic.

You: How so?

In several ways. Here are just a few:

• The largest issue concerning health care reform is health insurance. While the debate about health insurance is both variable and plentiful (e.g., its affordability, administration, even its very existence), health insurance remains the number one issue of health care reform.  Long time readers know that insurance is a cornerstone personal financial planning topic.

• Health care reform is extremely likely to cause changes in what we pay for medical services.  This is both a cash-flow issue (changes in co-pays, deductibles, and premiums) and a tax issue (since surtaxes, to help pay for reform, and penalties, to ensure compliance, are under discussion). Again, cash-flow and tax are major components to sound financial planning.

• Changes to flexible spending plans (like the elimination of their use for non-prescription medicines) are also under consideration.  This gets at benefit planning, yet another key financial planning topic.

I could certainly go on.

You: I get the point.  Health care reform will definitely affect most people’s finances.

Right.

You: So you’ve explained how health care reform is a personal finance topic, but not why are people so rude when discussing health care reform.

As was reported in Friends Don’t Let Friends Bring Up Health Care, a wonderful article first appearing in The Wall Street Journal earlier this week, causes for overtly rude behavior include the Internet and our role models.

You: The Internet?  Why?

As the article reports and you may have observed, people write things online they would never say to a person’s face.

You: Did you see the town hall meetings on TV?

I sure did and point taken.  Now multiply it by a million and you have some idea of the scale of rudeness permeating sites like Facebook (supposedly, and quite ironically only connecting you with friends), and Twitter.

You: Is it really a problem?

I think so.  I do my best to stay apolitical except among my closest friends and family.  I don’t participate in political discussions with people I don’t know, let alone potential clients or supporters.  But not everyone else checks themselves in that way.  (Not to say my approach is better, but it has its merits.). Have you ever hid someone’s comments on Facebook or stopped following someone on Twitter because of their relentless one-sided presentation of their opinions?   I have – and not just those I’ve disagreed with!

Other reasons for the rude behavior, in my opinion, include:

• Health care reform is going to affect our pocketbooks, no matter the final outcome. Most people must very work hard for their money and want it choose how to spend it.  No matter which course is taken, we will cede some control of our money as a result of health care reform.  (We may also cede greater control of our medical care, but I don’t get the sense we’re as upset about that possibility as the possibility of losing more control of our money).  Feeling like one is losing control can often lead to rude behavior.

• Health care reform is really complicated. Health care reform touches nearly every part of the government and our personal affairs.  It simply cannot be addressed adequately in a four minute cable news interview, let alone a sound bite on the 6PM news.  Yet the media’s desire to give us what we want (quick one-liners we can both repeat to our friends and help us convince ourselves we actually understand the true complexity) leads an endless sea of frustration.  After all, every sound bite can be countered with another.  True philosophical conversations around health care reform are much harder than they were about responding to the attacks on 9/11 or Pearl Harbor (though there were critics of our action following both of those events as well).  Things seemed easier to understand, no matter which side of the issue you were on.  When people are more confused yet feel forced to take an opinion, they are more likely to become rude when challenged.

• Most people don’t like uncertainty and we have a lot of that already.  Due to the economic meltdown and related rise in unemployment, there was growing unease well before the health care reform debate really got going. Now we’re forming opinions during a time when we’re a bit less unsettled than we were a couple of years ago.  At best, it’s a bit uncomfortable  At worst, it’s stressful. People are more likely to be rude when they’re stressed.

You’ve just read Pandora’s box. Feel free to open your can of worms and place your comment below.  Bonus points if you can keep it civil.

You might already know that I’m a pretty big Red Sox fan.  This weekend’s series with the NY Yankees was filled with a lot of unexpected events including a 2 run bottom of the ninth comeback, a 16-11 game (during which the Red Sox once trailed 6-0) and in my mind the craziest: Jacoby Ellsbury’s dramatic straight steal of home.

Depending on who you listen to, the last time a Red Sox player stole home was either 10 or 15 years ago. Regardless, it’s an incredibly rare event, especially when you consider how many games the Red Sox play every year.  And while it’s truly special to see it, if you watch enough baseball, you will, sooner or later, see it.

You: What’s this got to do with personal finance?

Plenty.

Expect the Unexpected

Emergency Funds are for Emergencies

To all those people who never feel the need to create an emergency fund because they’re super-confident in their job security: get an emergency fund. Even if you’re never laid off, you could still get very sick or have an expensive accident.  At that point, you’ll need an emergency fund and won’t have time to create one.

Investing Means Risk – Especially When it Feels Risk-Free

To all those who feel they can stomach the potential incredible short-term volatility of the stock market and therefore invest very aggressively even if they’re nearing or in retirement:  Open a newspaper.  Stuff happens.  Was any of it truly expected? Heck no and certainly not the actual combination of events that led to the most recent market meltdown.  Was something crazy going to happen sooner or later to spook the market? Of course.  Invest for your age and true risk tolerance.

Never Risk a Lot for a Little

To all those who don’t have renter’s insurance because the odds of something going wrong are so low and because they don’t own too much anyway: Just go buy the policy.  Since the odds are low, the cost of coverage is cheap and I can practically guarantee that, although you might not have much, losing all of it would be financially devastating.

Of course, there’s a good chance that you won’t need to tap your emergency fund, experience another tremendous market correction, or survive an apartment fire in the next few months, years, decades, or, perhaps, ever.

It was also quite possible I’d never see a straight steal of home – especially from a few hundred feet away.

Expect the unexpected. Sooner or later, it happens.  I was glad to be there for Ellsbury’s accomplishment, but I’m not looking forward to any of the other events I mentioned above. But I’m prepared. Are you?

Gary: Finally, a topic I can talk about!

Wow, it’s been a while, Gary.

Gary: You’ve been off-topic for a while with all this tax-related advice, education on saving strategies, and so on. I’ve been trying to talk product for a while!

Thrilling.

When my youngest daughter was born last year, we received the opportunity to purchase $5,000 of whole life insurance for less than a dollar a week!

You: Why are you shouting?

I’m not shouting, I’m just trying to relay the enthusiasm presented in the cover letter.

You: Oh.

Gary: It’s a great idea – buying life insurance for a kid!

You: It is?

No, it’s not.

Gary: Think about it.  It’s as cheap as it will ever be (the kid was just born, his/her life expectancy is forever), there’s usually no medical check-up required, and when you buy the policy, your child has protection for life.

You: How so?

Gary: There won’t be any future medical evaluations to retain the policy. So if your child becomes seriously ill and would otherwise not be insurable, he/she would still have coverage through this policy.  Such peace of mind is worth a lot.

You: Is that so? Is all of this true, Michael?

Yes.

You: So I’ll guess I’ll sign Junior up.

No.

You: No?

Gary: No?

No.

You: Why not?

Because, as usual, Gary is only telling you half of the story.

Gary: Hey, I’m right here.

You: What’s the other half?

Think about the true purpose of life insurance.

You: I’m not sure – to protect your loved ones, right?

Exactly.

You: Cool. Got that one right.

Gary: It’s also an investment.

It can be an investment, Gary. But the primary purpose of any life insurance purchase should be to protect your loved ones.  Other features are gravy. Some additional life insurance benefits could have value in certain situations – but you must start your analysis with an understanding for how the purchase will increase our ability to protect your loved ones.

You: I’m with you.  But I love my child.

Of course you do.  I love my little girls.

You: Do you have life insurance?

I sure do.

You: Then why are you telling me not to buy some for Junior?!

Because my life insurance is on my life, not my children’s.   (We have life insurance on my wife’s life too.) Emotions aside, if something were to happen to me or my wife, we would be financially devastated (absent life insurance) since an income would be lost overnight.

You: Okay, I see the importance of the parents having life insurance.

But if my child were to die – the worst thought imaginable from an emotional standpoint – it is, financially-speaking, utterly irrelevant.

You: Why?

Because neither of my children have an income. In fact, they cost me money (and a lot, especially given their appetites, but I digress.)   As a result, there would be little financial impact from their early passing.

You: But what about if they get sick and would be unable to get insurance on their own?

Gary: Yeah, what about that?

First of all, the odds of that happening are unbelievably slim – realistically, when they have children of their own, they’ll need life insurance and will buy it then. Second, even if they do find that they need life insurance and are not insurable at that time, the amount of insurance they can get via this policy is likely to be highly insufficient.

Gary: What about the cost being so low?  This is just a few bucks a week we’re talking about and some policies even provide for your money back in twenty years!  Can’t beat that.

You: That does seem like a pretty low risk to take.

Both of those facts help to lower the risk of this purchase decision.  But doesn’t the offer to get your money back in twenty years seem too good to be true?

Gary: No.

You: A little.

Think about why the insurance company can do this – why it is that they can pay all that money back to you in twenty years.

You: I don’t why.

Gary: Because we can.

Exactly.

You: Really?

Gary: Really?

Yes.  The life insurance companies can provide this “money-back guarantee” after 20 years because they’ll stilll make money.

You: How?

Gary: I’ve got to get a job at corporate.

The insurance company can keep all the premiums paid over the twenty years, invest it, earn a profit and then just return to you the amount of money you originally paid.

You: With interest?

Of course not.  The true cost of insuring someone who hasn’t yet reached adulthood is microscopic, so the insurance companies can help close this deal (at an emotional time for new parents) by apparently taking the risk away in making this decision.

You: But I still want to help my child.

Gary: See, Michael!

I see, Gary.

Congrats on being motivated to give your child a great financial head start.  To do so, I recommend you strongly consider starting a 529 plan with the same money you otherwise would have spent money on life insurance you don’t need.  That’s a bigger help – and the money can grow between now and when your child goes to school.

#     #     #

Something tells me I’ll be hearing from you – thoughts?

It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.

Thank you for writing this book. In one place, I have found a way to understand my financial future!

I have on question, though: My wife and I just bought a home, so it’s time to get some life insurance. I have gotten quotes for my term insurance but my father mentioned Term Return of Premium Life Insurance. I’ve looked into it and it seems like a good deal (I think?) but as this was not touched on in the book. I was wondering what your opinion of it is. (Maybe this could be a blog topic???)

–Jeffrey R., Philadelphia, PA

A while ago, I blog extensively about life insurance, especially in the very popular post The Four Questions of Life Insurance.  You are correct, however, in that I have not previously written about the specific product you mention above, “Return of Premium” term life insurance.

Congratulations on your recent home purchase.  For the purpose of this post, I’ll assume that life insurance is appropriate for you and your wife (as you have concluded), but depending on your personal facts and preferences, it’s possible the act of simply purchasing a home wouldn’t cause you to automatically need substantial life insurance.  Again, read The Four Questions of Life Insurance for a discussion of when you truly need life insurance.

What is Return of Premium Term Life Insurance?

This is one of these things that sounds like what it is. Specifically, you acquire a term life insurance policy with a feature that provides, if you are alive at the end of the policy term, for the total return of what you paid in life insurance premiums.  In addition, this return of premiums comes to you tax-free.

You: So it does sound like a good deal.

But you know there’s always a catch.  Logically, you already knew that there was a reason why the insurance company is being more generous with a Return of Premium policy compared to an ordinary term policy. In this case, the “generosity” comes to you in the form of a significantly higher policy cost.

You: What?

In other words, the premium you are charged each year is far higher for the same coverage (say $500,000) where the policy provides for the return of premiums than if it does not.  It is these additional amounts that you pay every year that are effectively invested by the insurance company and then returned to you (albeit at a guaranteed tax-free rate) at the end of the term.  You’re paying more money then the cost of the insurance and the insurance company, by investing the extra amount, can easily afford give you all your money back at the end of the term.

Why People Buy Return of Premium Policies

Psychologically, people have a hard time buying things they expect to have no value.

You: That’s not true. I play the lottery.

Point taken.  Maybe for small dollar purchases, they mind less.  But when it comes to something more than a dollar or two, it’s harder for people to accept.  That, combined with the fear of confronting one’s own mortality, makes a purchase of a term life insurance policy more difficult to complete. So, when an agent can explain that you’d be guaranteed a payback (either in the form of returned premiums or the true jackpot (a life insurance claim from your early demise), it’s a more attractive sale.

Gary:  A more attractive product.

But it shoudn’t be.

You: Why?

You can create the same concept on your own, and likely do much better.

You: How?

Simply be purchasing a traditional low-cost term life insurance policy. Then, with the savings you’d obtain compared to the cost of a Return of Premium policy, invest the money on your own.  Depending on your investment performance and the cost difference between the policies, it’s possible that you could have even more money this way.  Plus, you’d be under control of your funds the entire time, not just at the end of the term of the policy.  With the Return of Premium policy, you lose all flexibility with this extra money.  Should you wish to switch to a cheaper policy or cancel it because it is no longer needed, you’ll forfeit a good amount of the potential returned premium, as you are considered to earn most of it back in the final years.

Verdict

Unchanged. If you need life insurance, get what you need at the lowest possible (read: plain vanilla term) cost.  Use the amount you’d save (compared to any alternative policy) for your many other financial goals, some of which, in all likelihood, you’re not able to currently obtain.

It’s quite all right for you to never see any financial value from your term life insurance because you outlived your policy. In fact, that’s exactly what I hope happens from mine.

Although I am often asked to speak to recent grads, I have never been asked to speak at any graduations. But if I were, I imagine I would deliver something along the lines of this speech.

Today is part 6. To see the entire speech released so far, click here and read from the bottom up.

Rule 5. Use Protection

Was it Mom, Dad, an older sibling, or perhaps Kenny at sleep-away camp? Who first taught you about the birds and the bees? Whoever it was, they probably told you about the importance of protection as part of that same conversation. At least I hope so. If you don’t know what I’m talking about, well, let’s just say I don’t believe you.

Protection is important in the real world, and not just the kind they sell at the truck stop restrooms. No, I’m talking about insurance.

Insurance can be made to be very confusing, but it boils down to one simple rule: never risk a lot for a little. For the newly graduated, that means getting health insurance (even if you get a plan that covers little more than a catastrophe). Get renter’s insurance too since, for a couple hundred dollars a year, you protect everything you own, including the CDs you don’t use anymore thanks to Mr. Jobs and his partially eaten fruit.

And, despite what some people would have you to believe, life insurance will likely be important one day in the future when you have a kid or two who depend on your income. However, when the most dramatic financial impact felt by your untimely demise would not be your spouse or child, but rather by the owner of the convenience store where you get your midnight fix, you don’t need life insurance.

[To be continued]

One of the most overlooked benefits–particularly during the annual enrollment period–is disability insurance. With all the attention paid to health insurance and life insurance, disability insurance often gets the short end of the stick.

While this often surprises people, most folks do need disability insurance. In fact, long-term disability insurance is an important benefit at any age. Don’t skip this one, even if you are young. Not convinced? Read these statistics, from MSN’s Money Central:

“Every year 12 percent of the adult U.S. population suffers a long-term disability. One out of every seven workers will suffer a five-year or longer period of disability before age 65, and if you’re 35 now, your chances of experiencing a three-month or longer disability before you reach age 65 are 50 percent. If you’re 45, the figure is 44 percent.”

Furthermore, when you are young, the odds of dying are far lower than the odds of your becoming disabled. Plus, if there are no survivors depending on your income, the financial burden caused by your death is minimal.

You: Don’t rub it in.

A disability has entirely different financial implications. If you are disabled, an income is required to take care of you, whether or not you have dependents. Your personal needs might actually increase. Absolutely take advantage of a long-term disability option offered through your employer. It’s quite likely far less expensive to purchase such a policy through your employer compared to buying one on your own.

Taking advantage of a group (corporate) long-term disability insurance option is a crucial cost-effective step to living Beyond Paycheck to Paycheck.

“personal finance” “financial education”

It’s that time of the year again.

You: The ides of November?

No. Annual enrollment.

You: Almost as exciting.

As employees with company-provided benefits may recall, you get just one shot a year to make changes to your benefit choices (barring a major life event.) Over the next few postings, I’ll address a few annual enrollment considerations. Most important, make sure you actually spend a few minutes on this.

You: Why? Can’t I just leave everything the way it is now?

Actually, you might be able to. And, if so, it will only take a couple of minutes to be certain that inaction is truly the right financial strategy.

But, it’s also quite possible that doing nothing would be a huge mistake.

You: Huge?

Yes, according to today’s Fiscally Fit Column at the WSJ online. In fact, when it comes to health insurance “companies are asking workers to re-enroll if they want to remain in their current plans.”

You: So doing nothing could mean I would suddenly have no health insurance?

Yes, that’s now possible. And if this should happen to you, it’s likely you’d be SOL (that’s “Sorry, out of luck” for those wondering how the blog keeps it’s ‘G’ rating) for up to a year.

So take a few minutes to read the materials from HR to ensure you retain your current plan if that is your intention.

You: Should that be my intention?

That depends. Unfortunately, health insurance is simultaneously getting both more complicated and more costly. Plus, each company presents different options to its employees. Furthermore, if you’re in a committed relationship, your spouse or partner may have benefit options that the two of you will also need to consider. Ultimately, there’s no “one size fits all” option. But one way or another, you’ll want health insurance.

You: A rule of thumb?

Sure. Again, from today’s WSJ Online article, here’s a great summary of what you should be evaluating when you make decisions concerning your health insurance coverage:

“Picking the right insurance plan depends on your health and your stage in life. If you have children or a chronic medical condition, lean toward flexible plans with low deductibles. If you’re young, childless and generally healthy, you may be better off picking a plan that offers a lower premium in exchange for a high deductible, and then paying for out-of-pocket costs with a health savings account.”

But remember, you need to make the decision. Don’t have the decision made for you. You might not like the result.

You: A year is a long time to be unhappy.

Indeed. And it will feel even longer if you’re uninsured.

“personal finance” “financial education”

Doesn’t it seem like most life insurance conversations are related to the motivation of the accused killer in a syndicated Law and Order episode? Yet life insurance is a critical concern deserving of your limited time. Given an unfortunate circumstance, missing just this one element of an otherwise solid financial plan can add financial ruin to the lives of your survivors.

What appear to be the natural complexities of life insurance prevent many of us from making a wise choice to purchase an appropriate type and amount of life insurance. But when you get down to it, life insurance can be boiled down into answering four relatively straightforward questions. Take one at a time and before long you’ll be checking life insurance off of your “to-do” list.

Question # 1: Do I need life insurance?

It’s completely possible to answer “no” to this question. Think about who will be harmed financially by your untimely demise. If it’s only your stylist, you don’t need life insurance. Don’t worry about Bruce; he’ll find other clients. But if you’ve got children, or have a significant other or parent who depends on your income, life insurance is critical.

It is not only those making an income who need to be insured. Even if you work full-time in the home and receive no salary, there is a tremendous financial cost to the survivors resulting from your early death. As you told your spouse during your last argument, it would cost big bucks to replace the childcare, cleaning, and personal chef responsibilities—in addition to everything else you do.

How would your surviving spouse be able to keep his job and perform all your responsibilities if you were gone? Quite likely, it would be impossible. It is life insurance on the homemaker spouse which would enable the surviving spouse to keep the job he has and afford to hire others to help with the tasks you formerly performed.

Question # 2: How much life insurance do I need?

The basic goal is to satisfy your family’s needs for a specific period of time after you are gone. For example, you might purchase

• enough insurance so that your spouse would not have to work for the rest of the time your children were expected to live in the home.

• You might further choose to purchase enough to pay for your children’s expected college expenses.

• If you also purchased enough insurance so that your spouse would never have to work again and could afford to purchase the Yankees, you’ve probably purchased too much insurance.

Take advantage of the tools available to assist you to estimate an appropriate amount of insurance to purchase at various web sites, including Total Candor’s life insurance needs calculator.

Question # 3: What kind of life insurance should I buy?

Although can’t tell you exactly what to do, I can provide you key considerations and inform you what to be most cautious of. With that information, you will probably know what makes the most sense for your situation.

Broadly speaking, there are two types of life insurance: whole life insurance and term life insurance. Whole life insurance is further divided into other types of policies with buzzwords such as universal, variable, and single premium.

Whole life insurance features an investment component that salespeople love to talk about. It also pays a much higher sales commission, which is less likely to come up in conversation.

Gary: Ahem.

While there are, of course, circumstances where whole life insurance policies make sense, most young families with limited budgets need to maximize their protection per dollar spent and a whole life insurance policy is typically not the best way to do so.

On the other hand, term insurance is the purest kind of insurance. You pay premiums for the specific length of time (the term) the policy covers. If you pay your premiums and you die during the term of the policy, your beneficiary receives the life insurance proceeds. If you do not die during the term of the policy, you get nothing. It’s quite simple.

You: That is simple.

Partly due to this simplicity, it is relatively easy to compare policies among the various companies selling term life insurance. There just aren’t as many numbers (especially when compared to the many variations of whole life insurance policies) to confuse you. Plus, you’ll see you can afford much more protection for the same dollar amount buying a term policy compared to a whole life policy.

Question # 4: Where do I buy life insurance?

Even if your employer offers you a life insurance benefit at work, you owe it to yourself to get a quote for a private policy. Especially if you are young, healthy, and a non-smoker, you’ll likely find that a privately purchased policy will be less expensive than the one offered to you at work.

In addition, life insurance you purchase privately does not depend on your continued employment at your current job. When you go to work for another company or take some time out of the workforce, you can keep your privately purchased life insurance. This advantage is known as portability. Life insurance purchased through your employer is typically not portable, since it is usually not available to you should you leave your job. In most cases, this is true regardless of the reason you leave: quit, layoff, or disability.

I know that talking about death isn’t fun. But failing to put life insurance in place is among the riskiest things you could do to your child. You’d never leave your son alone on a bridge. You’d never look the other way while with your daughter on a boat. Life insurance is much more that just the safety railing or the life raft. Life insurance is you looking after them, just in case, some day, you’re not.

“personal finance” “financial education”