The key with insurance is: only insure the risks you can't afford to take on your own. You need to insure the life of the primary breadwinner--and disability insurance is probably even more important. Most people need to insure their house--and their car, unless it's old and no longer of great value. But the life of a small child? Insuring that doesn't make any sense. (And the theory that the child will have "guaranteed" access to insurance in the future is awfully speculative to be a basis for any major financial decisions. How much insurance will he be able to buy when he's 45? How much will it cost? What would ordinary term life cost him at that point? Your agent won't be able to answer any of those questions, and he'd have to be able to answer all of them for you to be able to make a reasoned financial decision.)
Nay, I kid. I discovered your blog when looking through the backlogs on i-am-bored.com and found a link to your post about carnival game scams. I saw a comment you left in response to someone else's comment asking if they had read your post on blog commenters. I took the time to look through your other entries until I found it. Curiosity got the better of me. :) I've read a few of your other posts along the way, and I really liked them. I particularly liked the one about the iPhone. That lady got what she had coming. I like how vindictive you were about it too. :-p.
That being said, I'm going to make it a point to try and come back and read your entries more often, as I find them rather entertaining.
since clinton make stupid free trade with china we all get screwing now...cheap labour with communist country most they just rape their labour.made in other country have free trade just wonderful dollar for coorporation
Here, here. I'm going to try the biking in the winter bit myself this winter. Already shopping for some more aggressive tires (ride a mountain bike to class/work, etc., mostly because I can't resist the urge to cut across vast expansive of grass and dirt).
First off, it's living large on a small budget. And I think getting a pair of $12.99 sandals that leave no tan lines are a pretty good way to do that. THey are reusable for at leat 1 year, and they're way comfortable. THey are also cheaper than many sandals on the market. So, there you have it.
It is a complete waste of money. Whatever funds you would have spent on the policy, if put into an s+p fund, would yield you and your family a much better result.
Your friend who told you that life insurance should be used to replace income is correct.
You people commenting obviously did not go to the site link, the video shows it all, including the external SATA drive. The fan spins, albeit slowly. It's an electromagnetic fan, so I can't see any problems with longevity issues, if anything, it will last much longer running in oil than air.
The dealer charged him $143 to tell him he needed to spend another $6500.
I had an even worse experience at a Mercedes Dealer in Cambridge MA. A customer had sold his car a week after I had put new brakes in, rotors, pads, hoses and calipers all around. The guy he sold it to took it to this dealer to have the car checked, dealer told him he needed $3500 worth of brake work. Guy calls me, tells me I'M a thief etc. I went down to the Mercedes dealer, car was still on the lift.
Asked the tech to show me what needed replacing, tech literally RUNS in the other direction with some lame excuse about forgetting another car running, doesn't come back. I grab the service manager (by the arm), take him over to the car and show him the BRAND NEW components all around. This guy looks at us with a straight face and says: "Mercedes recommends this service for this model with this mileage, the computer shows Mercedes didn't service this vehicle."
So in other words, they're either outright thieves, or complete incompetents who can only perform repairs on a schedule because they couldn't diagnose their way out of a paper bag.
This was the 3rd such run-in I've had with this dealership, the other two involved AC work and a 300TD. A customer had his 300TD towed to this dealer (I close early on Saturdays) and given an estimate of $850 to fix injector pump and replace glow plugs. Customer calls me and asks if this sounds right, on the way home I stop by the dealer, car parked outside, I looked at it, walked up to he parts counter, paid $2.50 for a blade fuse for the glow plug relay, installed in 30 seconds and my customer drove away without even looking back.
I was a bit older (though not that old!) when my kids were born so we had money set aside for their use. This is for another post and discussion but some folks may be able to afford term insurance but not whole life insurance.
...but they don't always grow up and buy insurance. My mother bought insurance policies for both my brother and I when we were little, and it's the only life insurance either of us has. For my brother, who has a wife and three kids, it's really important that he has that $25,000 now, because he can't afford to buy any for himself. So, you might consider it an investment in thier future, so they will have it if they don't, can't, or won't buy it for themselves, or even better, an investment in your grandchildren's future, because they are the ones that are really going to benefit, especially if it is the only insurance thier parents have.
Unless they are a child model or earn some other kind of income, all they really need is enough to cover final expenses. Most of the time, this can be purchased as a rider on the parents' plan.
My mother bought one of those life insurance policies for me when I was born. I've added to it a few times, and it's up to something like $25K now. As someone who's made lifestyle choices that make me hard to insure (skydiver/pilot/ride a motorcycle/scuba), it's nice to not have to jump through the hoops some of my friends have to get a policy.
Not sure if you've checked around, but the cost of funeral arrangements (casket, plot, headstone etc. etc.) is going to exceed $1,000 by some distance..
you may want to try and increase that coverage if that's your intent.
first, I'm not an insurance sales-person so I don't get anything for maintaining this position.
I understand it's to replace income - but there could be serious expenses incurred by illness, hospitalization, etc. not to mention a decent burial for your child should the unthinkable happen.
Unless you're independently wealthy, and have amazing health care benefits, I still think it's prudent to expend a few dollars a month for life insurance for your children.
YES! My parents bought a whole-life insurance policy on me at birth. I'm in my fifties now, and there's no way that I'd be able to get life insurance now (the usual stuff that comes with age). Alas, it's for only $1,000 because they thought I'd get married, which didn't happen. I plan to add to it and use it as funeral insurance.
The wonderful thing about buying whole-life now is that your children will never qualify as easily as they will now.
I would recommend buying life insurance for every newborn child.
My wife and I started living with a budget about a year ago. It was rough at first, but we love it now. When I tell friends of mine, with money problems, to develop and live on a budget they act as if it's too much work. Now I have a better way to frame the strong points of living within a budget. Thanks.
The sandals look great. I want a pair. But how should I purchase them since I live in the Netherlands (Europe). I can use amazon of course but I only see female versions at amazon, not male. Any ideas?
I just wanted to let you know I recommended ad quoted this entry heavily in my most recent post on Echo Boomer Finance. Thanks so much for writing it, it said a lot of the things I wanted to in a much better way.
By the time of returning the security deposit, the Real Estate returns much less, and when I inquire them about the unexpected expenses they had in the house- after we left- )requiring the receipts which is our right within 14 days after we receive the expenses report for putting the house in the order "they believe" is right)- they say that State Law does not obligate them at all to show the receipts as a proof of the further expenses that was never reported,
30 days before our deadline to leave they did NOT schedule any appointment, as their obligation, for a preview of the house and things to supposedly should be fixed up- this was their obligation.
They even delayed the wrong check they yes sent for a partial security deposit, sending to a wrong address, betting I have no forward, in order to take over the 14 days I have, after they send the unfair security deposit to contest the charges in the statement- by requesting the receipt. They say they did that not on purpose, but only a stupid one would not understand why a check in Folsom CA would take instead of one day to get to the given address, 6 days.....They bet on my ignorance. The more days they gain, the less time I have to contest their charges and make exigencies upon the receipts of the services, said done by them, after we left.
They ignore my e-mails and make mockery on us.
They put under House Cleaning an absurd charge of 300 dollars, after having I cleaned the house for 3 days. They charged for a couple of bulb lamps 50 dollars and other charges.
BTW, the manager was sweet and a princess by the time I gave her back the keys saying they would charge just teh carpet cleaning, so no problem tobe stressed out and they did not put interest in our sec deposit.
This type of disease to the human race, criminals and terrorist never catch.
I'm afraid to go to court law b/c finantial elefants win by corrupting crooks.
It has personally worked for me in my little corner of the world. I have purchased many books from Ebay and Amazon that seem to have been reincarnated from an ashtray. They are now clean and fresh thanks to this "anecdote." It's a good frugal option to try for most people, not that I would want to discourage anyone from buying your book deodorizers.... and if there is a particular book that kitty litter doesn't work for, than no harm/no foul.
The key with insurance is: only insure the risks you can't afford to take on your own. You need to insure the life of the primary breadwinner--and disability insurance is probably even more important. Most people need to insure their house--and their car, unless it's old and no longer of great value. But the life of a small child? Insuring that doesn't make any sense. (And the theory that the child will have "guaranteed" access to insurance in the future is awfully speculative to be a basis for any major financial decisions. How much insurance will he be able to buy when he's 45? How much will it cost? What would ordinary term life cost him at that point? Your agent won't be able to answer any of those questions, and he'd have to be able to answer all of them for you to be able to make a reasoned financial decision.)
Picked up a phone system (PBX & 8 handsets), resold it to a vendor of that make for $450. I just picked up another one, so we'll see how I do.
Nay, I kid. I discovered your blog when looking through the backlogs on i-am-bored.com and found a link to your post about carnival game scams. I saw a comment you left in response to someone else's comment asking if they had read your post on blog commenters. I took the time to look through your other entries until I found it. Curiosity got the better of me. :) I've read a few of your other posts along the way, and I really liked them. I particularly liked the one about the iPhone. That lady got what she had coming. I like how vindictive you were about it too. :-p.
That being said, I'm going to make it a point to try and come back and read your entries more often, as I find them rather entertaining.
since clinton make stupid free trade with china we all get screwing now...cheap labour with communist country most they just rape their labour.made in other country have free trade just wonderful dollar for coorporation
all MADE IN CHINA CRAPS!!!
Here, here. I'm going to try the biking in the winter bit myself this winter. Already shopping for some more aggressive tires (ride a mountain bike to class/work, etc., mostly because I can't resist the urge to cut across vast expansive of grass and dirt).
First off, it's living large on a small budget. And I think getting a pair of $12.99 sandals that leave no tan lines are a pretty good way to do that. THey are reusable for at leat 1 year, and they're way comfortable. THey are also cheaper than many sandals on the market. So, there you have it.
It is a complete waste of money. Whatever funds you would have spent on the policy, if put into an s+p fund, would yield you and your family a much better result.
Your friend who told you that life insurance should be used to replace income is correct.
You made the right choice. It's a no brainer.
You people commenting obviously did not go to the site link, the video shows it all, including the external SATA drive. The fan spins, albeit slowly. It's an electromagnetic fan, so I can't see any problems with longevity issues, if anything, it will last much longer running in oil than air.
It cost him $141 to get it fixed.
The dealer charged him $143 to tell him he needed to spend another $6500.
I had an even worse experience at a Mercedes Dealer in Cambridge MA. A customer had sold his car a week after I had put new brakes in, rotors, pads, hoses and calipers all around. The guy he sold it to took it to this dealer to have the car checked, dealer told him he needed $3500 worth of brake work. Guy calls me, tells me I'M a thief etc. I went down to the Mercedes dealer, car was still on the lift.
Asked the tech to show me what needed replacing, tech literally RUNS in the other direction with some lame excuse about forgetting another car running, doesn't come back. I grab the service manager (by the arm), take him over to the car and show him the BRAND NEW components all around. This guy looks at us with a straight face and says: "Mercedes recommends this service for this model with this mileage, the computer shows Mercedes didn't service this vehicle."
So in other words, they're either outright thieves, or complete incompetents who can only perform repairs on a schedule because they couldn't diagnose their way out of a paper bag.
This was the 3rd such run-in I've had with this dealership, the other two involved AC work and a 300TD. A customer had his 300TD towed to this dealer (I close early on Saturdays) and given an estimate of $850 to fix injector pump and replace glow plugs. Customer calls me and asks if this sounds right, on the way home I stop by the dealer, car parked outside, I looked at it, walked up to he parts counter, paid $2.50 for a blade fuse for the glow plug relay, installed in 30 seconds and my customer drove away without even looking back.
What's this have to do with living on a budget? They run out of sticky so they don't last long.
I was a bit older (though not that old!) when my kids were born so we had money set aside for their use. This is for another post and discussion but some folks may be able to afford term insurance but not whole life insurance.
...but they don't always grow up and buy insurance. My mother bought insurance policies for both my brother and I when we were little, and it's the only life insurance either of us has. For my brother, who has a wife and three kids, it's really important that he has that $25,000 now, because he can't afford to buy any for himself. So, you might consider it an investment in thier future, so they will have it if they don't, can't, or won't buy it for themselves, or even better, an investment in your grandchildren's future, because they are the ones that are really going to benefit, especially if it is the only insurance thier parents have.
Unless they are a child model or earn some other kind of income, all they really need is enough to cover final expenses. Most of the time, this can be purchased as a rider on the parents' plan.
My mother bought one of those life insurance policies for me when I was born. I've added to it a few times, and it's up to something like $25K now. As someone who's made lifestyle choices that make me hard to insure (skydiver/pilot/ride a motorcycle/scuba), it's nice to not have to jump through the hoops some of my friends have to get a policy.
Not sure if you've checked around, but the cost of funeral arrangements (casket, plot, headstone etc. etc.) is going to exceed $1,000 by some distance..
you may want to try and increase that coverage if that's your intent.
first, I'm not an insurance sales-person so I don't get anything for maintaining this position.
I understand it's to replace income - but there could be serious expenses incurred by illness, hospitalization, etc. not to mention a decent burial for your child should the unthinkable happen.
Unless you're independently wealthy, and have amazing health care benefits, I still think it's prudent to expend a few dollars a month for life insurance for your children.
YES! My parents bought a whole-life insurance policy on me at birth. I'm in my fifties now, and there's no way that I'd be able to get life insurance now (the usual stuff that comes with age). Alas, it's for only $1,000 because they thought I'd get married, which didn't happen. I plan to add to it and use it as funeral insurance.
The wonderful thing about buying whole-life now is that your children will never qualify as easily as they will now.
I would recommend buying life insurance for every newborn child.
Thanks, everyone, for the kind words. I'm glad I could start with a piece that seems to speak to so many people.
Living in the UP lot's of people carry it in their cars for traction during the winter months-- it is really useful!
My wife and I started living with a budget about a year ago. It was rough at first, but we love it now. When I tell friends of mine, with money problems, to develop and live on a budget they act as if it's too much work. Now I have a better way to frame the strong points of living within a budget. Thanks.
The sandals look great. I want a pair. But how should I purchase them since I live in the Netherlands (Europe). I can use amazon of course but I only see female versions at amazon, not male. Any ideas?
Hey guys,
I just wanted to let you know I recommended ad quoted this entry heavily in my most recent post on Echo Boomer Finance. Thanks so much for writing it, it said a lot of the things I wanted to in a much better way.
Dan
By the time of returning the security deposit, the Real Estate returns much less, and when I inquire them about the unexpected expenses they had in the house- after we left- )requiring the receipts which is our right within 14 days after we receive the expenses report for putting the house in the order "they believe" is right)- they say that State Law does not obligate them at all to show the receipts as a proof of the further expenses that was never reported,
30 days before our deadline to leave they did NOT schedule any appointment, as their obligation, for a preview of the house and things to supposedly should be fixed up- this was their obligation.
They even delayed the wrong check they yes sent for a partial security deposit, sending to a wrong address, betting I have no forward, in order to take over the 14 days I have, after they send the unfair security deposit to contest the charges in the statement- by requesting the receipt. They say they did that not on purpose, but only a stupid one would not understand why a check in Folsom CA would take instead of one day to get to the given address, 6 days.....They bet on my ignorance. The more days they gain, the less time I have to contest their charges and make exigencies upon the receipts of the services, said done by them, after we left.
They ignore my e-mails and make mockery on us.
They put under House Cleaning an absurd charge of 300 dollars, after having I cleaned the house for 3 days. They charged for a couple of bulb lamps 50 dollars and other charges.
BTW, the manager was sweet and a princess by the time I gave her back the keys saying they would charge just teh carpet cleaning, so no problem tobe stressed out and they did not put interest in our sec deposit.
This type of disease to the human race, criminals and terrorist never catch.
I'm afraid to go to court law b/c finantial elefants win by corrupting crooks.
It has personally worked for me in my little corner of the world. I have purchased many books from Ebay and Amazon that seem to have been reincarnated from an ashtray. They are now clean and fresh thanks to this "anecdote." It's a good frugal option to try for most people, not that I would want to discourage anyone from buying your book deodorizers.... and if there is a particular book that kitty litter doesn't work for, than no harm/no foul.