Hi, I'm Gladx4

[gladx4]

Hey guys. I am a 24 year old looking to get some good information and wisdom from here. I have 2 kids and a wife that is about to start a 401k, she is 25.

I mainly want to be able to retire with no house payment and a good amount of money to be able to travel. But more importantly I want something that my kids would get in case I died, but I will probably look at a cheap life insurance plan for them since I am young still.

Anyway I will have more questions but I will make a separate thread for those. Looking forward to talking with all of you!

 

[growing_older]

Welcome to the forum. It's a friendly place.

A young couple, with kids no less, needs life insurance and a will. Pronto. If anything were to happen to one (or both) of you, you need to insure that the other is taken care of and that the kids are provided for. Term life insurance is your best option.

And get a will. As soon as you possibly can.

 

[bbbamI]

Welcome to the forum....

 

[Walt34]

A young couple, with kids no less, needs life insurance and a will. Pronto. If anything were to happen to one (or both) of you, you need to insure that the other is taken care of and that the kids are provided for. Term life insurance is your best option.

+1

It's not fun to think about or plan for but both of you need to consider the "Where will I be?" financially if one died prematurely, or worse (from a financial standpoint) if one became disabled through accident or illness. That's where, life insurance, disability insurance, and yes, even at your age, perhaps even long term care insurance come in. What do you think happens with someone terribly brain-damaged in an accident at a too-young age? At least ask about it.

Bear in mind they are separate products covering different scenarios. Don't let some slick salesguy try to tell you different.

 

[gladx4]

Thanks guys, it is definitely something I am going to do. We are going to be in our new house next week. 30 years, 4.75%, so once were situated I am definitely going to get it.