Insurance Renewal
My husband’s life insurance policy is almost up for renewal, so we’re currently shopping around for better quotes. Right now, we have term life insurance, but have been thinking about making a switch to whole life insurance if we can find a good enough policy. Whole life might be better for our purposes because it has an investment component that would essentially force us to save money for retirement. We need that in a big way right now!
Then again, I’ve heard that whole life insurance policies often come with high fees and commissions that cut into your return, so they’re actually not as profitable as a lot of other investment vehicles. Maybe we just need to develop enough discipline to build a nest egg on our own or invest in stocks, bonds, and mutual funds instead.
At any rate, we seriously need to start thinking about retirement. We have some savings, but not nearly enough, and we have zero real investments to speak of. We’re in our mid-thirties now, so it’s high time to get moving on retirement. If we continue putting this stuff off, it’ll soon be too late.