How much Life Insurance is enough? : r/personalfinance - Reddit

A good estimate is 10 years of salary as a base amount. So if you make $65k per year then it’s probably enough. However if you make $100k per year then increase it to $1 million. However, …

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$65
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How Much Life Insurance Is Enough? : R/personalfinance - Reddit

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A good estimate is 10 years of salary as a base amount. So if you make $65k per year then it’s probably enough. However if you make $100k per year then increase it to $1 million. However, …

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$4900
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How Much Is Enough (life Insurance)? : R/personalfinance - Reddit

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Take home pay / monthly expenses. Take Home pay per month is roughly 7k. $4900 (without my commission) after all taxes, retirement, and insurance are taken out. My commission check is …

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How Much Life Insurance Do I (or My Spouse) Actually Need? : R

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Term life is cheap enough that the difference between a $500k 20 year policy and a $750k 20 year policy (or 25 year, if you plan to have more children) may not be more than $200-300 per …

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Life Insurance. What Does It Typically Cost? Is It Worth It?

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You don't want that and should get rid of it and get your $400 a month back and put that towards your debts. Generally life insurance for a 26 year old for like 50k might be $2 a paycheck in my …

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How To Decide How Much Life Insurance Is Needed? : R ... - Reddit

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Cost: $206/mo for both of us. --This covers the life of the mortgage plus at least $300k for living expenses. OR. (2) 30 year Term at $500k and Universal coverage at $200k. Cost: $434/mo for …

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FAQs about How much Life Insurance is enough? : r/personalfinance - Reddit Coupon?

Which is the best personal finance subreddit?

The best personal finance subreddit on Reddit is r/personalfinance. It has over 14.0 million members and eleven-thousand members online at any one time. r/personalfinance is absolutely stuffed with information and seems to be never-ending, with popular subs being added to it daily. ...

Is life insurance a misrepresented aspect of personal finance?

Life insurance is one of the least understood and most misrepresented aspects of personal finance. For the record, I am not against life insurance. I am, however, against needlessly expensive, opaque, and complicated financial products and services that are sold instead of bought. ...

How long should a life insurance policy last?

Either way, get a term policy for about 15-20 years and that should cover it. Also, save, save, save if you can. 401, IRA, cash account, etc Then by the time your kids are in college, you will have savings and if something unfortunate happens, your spouse and kids will get that money. ...

Is there a personal finance community on Reddit?

Yes, Reddit has a personal finance community. The flagship sub on reddit for everything personal finance is r/personalfinance. Reddit also has a huge personal finance community, and in it are a lot of knowledgeable people and tons of useful information. ...

Is Reddit a good place to learn about personal finance?

If you're not already using Reddit to get insights into the world of personal finance, you're missing out. Reddit Personal Finance is one of the most popular destinations for sharing, discussing, and asking questions about personal finance issues. ...

How much should a term life insurance policy cost?

Given the numbers you posted $1.5M to $2M should be enough. Assuming it’s term life and you’re healthy, the price will be reasonable. With young children, and as primary breadwinner I’d go 15-20x total, including your work coverage. ...