Legally_dead
Recycles dryer sheets
- Joined
- Sep 4, 2014
- Messages
- 50
I recently met with a Financial Advisor to see if he could convince me that I would be better off letting him manage my money rather than doing it myself. I was very clear that I was covered on life insurance through work and not excited about any insurance products.
His proposal included a chart showing how inadequate my disability coverage is. My goal is to retire in nine years at age 40. My current disability coverage (provided thru work) would provide $7,000 a month until I am 60. My monthly expenses are $4,000/month. But the advisor thinks my coverage is inadequate. By my calculations, I would actually be better off financially if I were disabled because I would make $7,000/month until 60. That's more money than my current $12,500/month that will end when I ER at 40.
I think he failed right off the bat and couldn't resist pitching an insurance product for a commission. Am I missing something?
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His proposal included a chart showing how inadequate my disability coverage is. My goal is to retire in nine years at age 40. My current disability coverage (provided thru work) would provide $7,000 a month until I am 60. My monthly expenses are $4,000/month. But the advisor thinks my coverage is inadequate. By my calculations, I would actually be better off financially if I were disabled because I would make $7,000/month until 60. That's more money than my current $12,500/month that will end when I ER at 40.
I think he failed right off the bat and couldn't resist pitching an insurance product for a commission. Am I missing something?
Sent from my iPhone using Early Retirement Forum