Posted on Dec 11, 2015
1LT Executive Officer
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LTC Stephen F.
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No SGLI is not enough to give your beneficiaries true financial stability 1LT (Join to see).
I recommend you but some type of permanent insurance with no frills while you are young when it costs less and get a rider which allow you to purchase additional policies, allow to to purchase policies for future children in case.
Start at IRA or Roth IRA and increase the amount you contribute to it whenever you get a pay raise - that way you do not notice any loss in income and increase what goes into your retirement. I recommend you invest in mutual funds instead of individual stocks. Ask around and find a low cost or no cost organization which will help you purchase insurance and start an IRA.
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1LT Executive Officer
1LT (Join to see)
6 y
Hooah Sir, my firm is no-fee based and we hit on permanent life insurance at a young age, contributing to Roth IRA's while investing in low fee mutual funds exactly like you said. Thank you for your contribution.
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SFC Michael Jackson, MBA
SFC Michael Jackson, MBA
6 y
LTC Stephen F. is 100% correct. Excellent advice. Anyone not taking his advice is making a HUGE life mistake. only thing i can possibly add is start NOW, Don't wait any longer
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MAJ Armored Combat Command Commander
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If you don't account for the time value of money, chances are your plan will go to shit.
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1LT Executive Officer
1LT (Join to see)
6 y
A712ae40
MAJ that's why we use these calculators to help our clients account for the time value of money, hooah?
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MAJ Armored Combat Command Commander
MAJ (Join to see)
6 y
I use the calculator on my phone. I suggest you enumerate financial goals and the vehicles.
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Capt Retired
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How much one should insure oneself for is a personal item. The answer is vastly different for each situation. There are really no simple answers.

Obviously if one knows that death is coming soon get all you can. Problem is you will find you can not get any.

I sold life insurance and after a single trip to the doctor I could not even sell myself any.
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1LT Executive Officer
1LT (Join to see)
6 y
CPT Porter why could you not sell yourself any if I may ask?
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Capt Retired
Capt (Join to see)
6 y
1LT (Join to see) - I was diagnosed with diabetes. Therefore no longer insurable with the company I worked for.
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1LT Executive Officer
1LT (Join to see)
6 y
C27da890
Capt (Join to see) - Here's the underwriting guidelines for Penn Mutual, you may be uninsurable with that company but it doesn't mean you would be with Penn Mutual. I've placed multiple cases at preferred and standard ratings for clients that have had cancer in the past.
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Capt Retired
Capt (Join to see)
6 y
1LT (Join to see) - Thanks, but I have progressed to non insurable by your chart. Five shots of insulin a day. Plus at my age insurance is seldom affordable.
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