Need help on Life insurance !!

[HALEY]

Originally Posted by judy

Definitely do research. Term is also an investment, like Marilyn said.

As for your dh, what's he worth to you?

I'm trying to figure that one out Judy, i have to go home and combind our dept. and see how much i would need in case something does happen to him, i know now that i couldn't afford everything by myself with Micah.. Before Yes, with Micah and the mess were into with remolding the house NO..

[HALEY]

Ok let me know if this sounds alright! im taking Dave Ramsey's advice.
i'm getting a 20 year term life policy on my husband, i combined the total i owe on the house, car, and credit cards and funeral expense, this is how much i'm taking the policy out for, plus getting a rider for Micah!
Now i already have a savings account Dave was talking about, been putting 200. per month. i also have an IRA thru my back, that's 50..00 a month i put in that.
All Credit cards will be paid off in August, so this is when i'm going to start looking at mutual funds get them started so when my 20 years are up we will be self-insured.. also after the credit cards are paid off, i'm going to increase the amount of money that im putting into my savings account, according to Dave you should have 3-6 months of salary in your savings.. So come August, I will get the ball rolling on this. ONce this is going good, i have to send Micah's college fund in...

[judy]

Wow! You are so organized. It really sounds like you have it all under control.

Good for you!

[DianaB]

I'm impressed!!!!!

[Marilyn]

Sounds like you are working the plan, Haley. Good job!!! You might consider buying a copy of The Total Money Makeover. I'm sure you could get one for a very low price on Amazon.com. You are on track to live a very happy life. Not having to worry about money gives you such freedom!!! We're not rich, but we are comfortable because we have tried to "live like no one else, so we could live like no one else". It's amazing, but when you can afford to buy most anything you want, you realize that there are not a lot of things that you really want.

My next goal is to get to the point that I have the time to really enjoy the blessings. That's the plan we are working on now. I just have to learn to be patient with this new plan.

[HALEY]

Aww thanks guys, i need to start thinking about the future! Especially with Micah, I do have a good 401 K thru work, but i don't think it's going to be enough to live on when we retire, and Lord only knows how much prices are going to be going up by then.. So i need to start planning now..
Thank you so much Marilyn i spent hours on that web site and he made alot of sense to me.. Plus i talked to my sister about mutual funds. Hope to get those started soon as i build up my emergency fund a little more.. I have some savings bonds i'm going to cash in and put into a mutual fund.
I am going to get his book too, sounds interesting!

[Janet]

Never heard of this guy before, but after seeing you posted a link (haven't gone there yet) I saw another post about him on another forum. Guess when I have some time, I'll need to check the link out.