7.30.19 Buying term life insurance; Clark shares an inspiring story; Rules for financial freedom

There's much confusion surrounding life insurance - Who needs it? How much? How do you go about buying it? Only ultra-high income earners might be candidates for whole life. Avoid universal life and variable universal life -  those are recipes for disaster.  Most people should have level term life, wherein the premiums do not change for the term of the insurance. The purpose is the replacement of income to provide for loved ones. Term life only pays in case of death and is easy to comparison shop for and buy.

In the midst of seaside nuptials, a distress call occurs. A teen surfer is being dragged out to sea, as 2 others attempt a rescue. Groom Zack Edwards, a Coast Guard member, springs into action. All make it safely back to shore. Link to the video at Clark.com. Often we only get the bad news. Zack Edwards made the decision to risk his life for others.

What do you want to achieve? What's important to you? The FIRE movement is getting backlash today against people who've set the goal to retire early by saving maximum money to do what they want in early retirement. Have the goal. Track your spending. Paying with cash makes for more mindful spending. For those who can't get spending under control, living on a cash basis only drastically reduces spending. Make sure to automate savings into your retirement accounts.

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