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re: How much life insurance do you have?
Posted on 5/9/23 at 12:56 pm to Billy Blanks
Posted on 5/9/23 at 12:56 pm to Billy Blanks
quote:
got a 325k life policy that's cheap. $335 a year but thinking I want to get another one to increase it.
I have 3 kids but I'm the only provider at the current time. I don't think 325 would be enough if I was gone. Sizeable equity in 6-7 houses that could be sold but those would only be a stop gap.
my opinion of course, but I don’t think that’s nearly enough. The real estate assets are great, but a three child household losing their primary income needs more than $325. You don’t want your wife to have to look to offload real estate while burying you.
We have three young kids, both wife and I work and each have $2,000,000. I wish we had $3,000,000 and may look to increase it. My thinking is if one of us dies, the household is likely losing both incomes at least for a while.
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