money mistake (and how to avoid) part5

dah part yg terakhir.. nanti kalau ada yang menarik lagi mmg nak dikongsikan di sini.apa yang boleh diamalkan. bak kata seseorang yang disegani- kena fikir dari sekarang untuk kehidupan mungkin sehingga berusia 100tahun. saving is important... renung-renungkanlah..

Money Mistake #5: I Forget What I’m Worth

If you’re a stay-at-home mom or you work part-time, you may not have enough life insurance. Many women are under­insured because they’ve under­estimated their income or the value of their contributions to the household. De Baca recalls one client whose wife died in her 30s and had only a $100,000 life insurance policy, which didn’t cover the need for child care for the couple’s young children or the housekeeping chores the client then required.

The fix: A rule of thumb to determine the amount of insurance coverage that you need — multiply your annual expenses by the number of years until your youngest child will turn 18. (Some parents may also want to factor in the future cost of their kids’ college.) Life insurance premiums actually have plummeted in recent years. So if you’re a healthy nonsmoker in your 30s or 40s, you can now buy a $500,000 term insurance policy for about $40 a month.

You and your partner should revisit your insurance coverage annually — or at least after a major event, like the birth of a child. “It takes a lot to run a household, and you want to be covered,” says De Baca.

~ini adalah personal opinion dan artikel adalah di ambil dari sumber2 lain kerana saya bukan orang yg expert dalam bidang ini.jika ada kemusykilan oleh merujuk kpd mereka yg lebih pakar/berpengalaman.