This Business News Story Was Uncovered By Us From: https://www.youngadultmoney.com/why-and-how-i-got-a-million-dollar-life-insurance-policy-at-27/
This selected trade related news Feature, was chosen specifically by Marcus lee, who is one of our undercover online business News flash reporters – will provide you more insight in how these points of discussion could be translated into your own business ventures.
As someone in their late 20s, I have a lot of the financial struggles and priorities that other 20somethings and millennials have.
I’m paying down student loan debt. I bought a house and I’m working through paying that down and making needed updates and changes (none of which are cheap). I’m investing and saving for retirement. All of this and trying to balance travel with my other financial goals.
Regardless of your age, you’re likely in the same boat as me: there are multiple financial priorities fighting for your paycheck.
Why then did I decide to take on another financial burden and get a million dollar life insurance policy at 27?
Despite the endless list of things I could use my money for, I have meant to get life insurance for a few years now. Here’s a few reasons why I did it.
Because I’m Married
The main reason most people get life insurance is because they are married and/or have children. When you are married or are in a serious relationship there is someone else who is making financial decisions based on your current and future income. And when you have children they are obviously relying on your income to support them.
While my wife and I both work and plan on being a dual-income household even when we eventually have kids, it’s clear that the decisions we make are based on both of us bringing in money. From the house we bought to the decision to live where we are, it’s all joint decision making. There are clearly financial implications of these decisions.
I was also greatly influenced during college by Suze Orman’s book… Read More
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