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re: Pay off house or invest Pt. 2
Posted on 12/23/21 at 4:54 pm to Hopeful Doc
Posted on 12/23/21 at 4:54 pm to Hopeful Doc
quote:
6) sounds like you’re giving advice on insurance but didn’t happen to mention life. Should seem obvious that you have some sort of life insurance policy in place, and you seem way too smart and conservative not to. But a term-life on you, if you don’t have it, + a will would be pretty critical things to not wait another 6 months to put in place.
Ah yes I assumed that went without saying. I do now have to consider my child in the event I die which will involve a trust, my family, and increasing the current amount from 400k to 1-2MM or more depending. I plan to seek help from estate lawyers/finance professionals to structure this properly.
Thanks for the detailed reply! All of this really opens my eyes to possible paths and will without a doubt help me find the right direction. I am a SME in my field but it does not involve finances so the free info helps greatly before I start paying for it. While this place produces lots of useless noise there's also gems to be found. Given my age there's not a lot of good first hand experience in my peer group.
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