PsyopRanger
Recycles dryer sheets
- Joined
- Jul 4, 2006
- Messages
- 227
I guess I am the only one with a lot of insurance or my salary is too low?
I only make around $70K/ year and currently have just over $1M of term between my military SGLI and another term policy. I pay around $50/month but that includes some coverage on my wife and kids as well.
I look at my age, my kids age, and my profession.
My purpose for life insurance is to provide for my family and pass on wealth.
I have strict rules on what and when to invest my proceeds if I die to help my wife and kids for the rest of their lives.
I also work in a high risk job and see the need for it more.
Here is another question:
How many FIRE recieved insurance or inheritance and used it to build on your FIRE?
I only make around $70K/ year and currently have just over $1M of term between my military SGLI and another term policy. I pay around $50/month but that includes some coverage on my wife and kids as well.
I look at my age, my kids age, and my profession.
My purpose for life insurance is to provide for my family and pass on wealth.
I have strict rules on what and when to invest my proceeds if I die to help my wife and kids for the rest of their lives.
I also work in a high risk job and see the need for it more.
Here is another question:
How many FIRE recieved insurance or inheritance and used it to build on your FIRE?