“Stuff Happens”. A polite term for a more vulgar expression.
That “stuff” can vary from long term illness to permanent disability. How do you prepare?
Emergency savings are needed to stay briefly Comfortable.
Long term Comfortable requires insurance, lots of it.
No, I am not an insurance agent or related to one.
After 70 years of living I appreciate need for insurance.
I am more Comfortable relying on insurance companies than family or government. Below are recommendations.
Health Insurance - I will not talk about the complexity of this topic. I only urge you to have an adequate amount.
Long Term Care - You can wait to buy this insurance. After the kids graduate from college is a great time. I recommend age 50. Although earlier will get you lower rates.
I waited until age 60, as usual I was lucky. Being healthy got me a good rate. Two years later I got cancer. Obviously I survived, but I could not get an affordable rate today.
Life Insurance - Married people (both partners) should buy life insurance to protect their kids and partner in case of early death. In your 20's and 30's term life insurance is surprisingly cheap. I enjoy my Comfortable life and want my wife to continue enjoying it, if I die first. So I bought life insurance.
Personal Liability - Our policy covers my wife and I, if we are sued. I want to protect our retirement savings and this type of insurance is cheap.
We have all these plans plus car and home insurance. Only another Great Depression would prevent us from having a Comfortable middle class life until we die.
Stuff happens. Be insured.
Written By: Dennis Wilmeth
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