Recruiting Football Talk VIII

#5,866
#5,866
butchna said:
House paid off? If you STILL have kids, that's bad family planning imo. I'll be 60 and first thing on the docket (according to my wife) is a new(er) truck...with her car long past paid off. Still two incomes, but I could easily not abuse pennies with $1600 extra bucks a month...doubling or tripling the number of vacations on just my dime with that take home money. Just forked out $3000+ for A/C work AND met all my financial obligations. And I get to attend the Oklahoma game next month without selling blood.
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So what you're saying is don't have kids in case your spouse dies? We're talking about young people here, who asked about insurance while they have kids. And, it seems you've got savings. If you pay off a house and don't have savings, you can't pay for that A/C work. Was that you or someone else that said $30k a year was enough if no house payment? Because that's earning about $40,000 or so and leaves $2,500 a month for all expenses for a family? Sure, if it's just you and your wife and you're frugal, maybe that works. But a young family who loses their primary earner unexpectedly?
 
#5,869
#5,869
mrMet said:
Um that’s quite easy lol take it from someone that has/did for multiple years on less than 80
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Supporting a family on that or just one person? Curious, because the discussion has been about insurance to cover a family.
 
#5,870
#5,870
99bubble said:
So what you're saying is don't have kids in case your spouse dies? We're talking about young people here, who asked about insurance while they have kids. And, it seems you've got savings. If you pay off a house and don't have savings, you can't pay for that A/C work. Was that you or someone else that said $30k a year was enough if no house payment? Because that's earning about $40,000 or so and leaves $2,500 a month for all expenses for a family? Sure, if it's just you and your wife and you're frugal, maybe that works. But a young family who loses their primary earner unexpectedly?
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Coming from someone known to beat a dead horse....

Secretariat has a statue.

Your intent is well meaning, but we all know people have different risk tolerances.
 
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#5,871
#5,871
Volsdeep4 said:
I have a CPA that hasn’t mentioned anything other than my current ira’s. They are a local small town company. Honestly, when I first got going they were the only company in town. She sent me to a local lawyer, who in turn sent me to a local banker. After talking to more people there are a lot of questions.
With that knowledge and your degree, you recommend to look elsewhere?
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Like Glitch says, make sure they are a fiduciary. You may have to ask them. Non fiduciaries will not tell you upfront.
 
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#5,872
#5,872
BigOrange15 said:
Lol the anti-sports country. No, there was a good post on Reddit about this actually. Culturally, outside of Cricket, India just doesn't value sports highly and looks down on most jobs that require physicality. There is minimal support for sports at any level and fields like medicine and science are highly prioritized and supported.
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That is weird
 
#5,873
#5,873
99bubble said:
Supporting a family on that or just one person? Curious, because the discussion has been about insurance to cover a family.
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No, the discussion was about a single woman supporting herself

At least the part I saw that you responded to

Here ya go:
IMG_6323.jpeg
 
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#5,875
#5,875
VolGee4 said:
Many, many variables. If my wife or I had passed away in the last 6 years, we would have to spend money on childcare, which we otherwise didn’t. Those costs have gone up. Benefits or taxes taken from check. Groceries for 4 kids, extra curricular activities, home maintenance costs (I mow my own yard, but my wife wouldn’t), car note, eventual college costs. Starts to all add up.

It certainly helps later in life when you don’t have some of these costs. I want my wife and kids to continue to have our standard of living if I die. Just my preference.
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This is exactly what I was talking about. I'm not sure people are thinking about all the stuff you just listed. It's why you need a lot of insurance to cover the income gap for a decade or more typically. Unless your wife can work and make great money...you know exactly what she wants to do if her spouse has died early!
 
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