re: Life insurance questions\advice

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So how much should one have in the bank to not be considered "bad at saving money" oh wise one?

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At 64? Over $1 mil and a paid off house. To hit $1 mil, you have to save something like $7,000 a year for 35 years. That's 15% of $50,000. Who can't do that?

My entire point of going with a 15 year life insurance plan, is that 15 years is PLENTY long for anyone in a professional type of job, small business owner, etc. to get their financial life in order.

I despise these 30 year plans: life insurance, mortgages, etc. There's way too many people that take a mortgage into "retirement" and never actually pay their house off. They take out HELOC and refinances to pay for a bunch of crap they don't need and can't afford.

If it takes you longer than 15 years, you aren't working hard enough and saving enough money to prepare yourself properly. Or you are like most Americans and living out of their means, running lives with a lot of risk, and in all kinds of completely unnecessary debt.

If you want to have a bigger house that takes forever to pay off, requires you longer to retire, longer to save money, and longer to take care of your family than that is fine. But my point is, 15 years is plenty long to do all of those things with proper planning.