Comments on: Be prepared

By: The Simple Dollar Weekly Roundup: Dominion Edition | Rich Dad Poor Dad Blog

The Simple Dollar Weekly Roundup: Dominion Edition | Rich Dad Poor Dad Blog — Thu, 02 Jul 2009 06:30:56 +0000

[...] Be Prepared This is a heart-wrenching story and one that really outlines the need to get your estate planning in order sooner rather than later. (@ gather little by little) [...]

By: The Simple Dollar » The Simple Dollar Weekly Roundup: Dominion Edition

The Simple Dollar » The Simple Dollar Weekly Roundup: Dominion Edition — Wed, 01 Jul 2009 14:01:17 +0000

[...] Be Prepared This is a heart-wrenching story and one that really outlines the need to get your estate planning in order sooner rather than later. (@ gather little by little) [...]

By: DDFD at DivorcedDadFrugalDad.com

DDFD at DivorcedDadFrugalDad.com — Mon, 29 Jun 2009 01:29:52 +0000

You never know when it is your time . . . as you said be prepared.

By: Rob

Rob — Thu, 25 Jun 2009 13:05:57 +0000

With all the tax breaks churches get, with all the lavish stuff in the church, the last thing I do is give away my money. I give to charity, when I see it going to a person who needs it. ( I give clothes to the needy, not to the person taking it for the needy. )

By: Gail

Gail — Thu, 25 Jun 2009 12:03:49 +0000

Yes, I had unexpected aggressive stage 4 leukemia and lymphoma cancer Mothers Day weekend 3 years ago; I was in between health insurance due to job change. I know what being somewhat unprepared means as far as health insurance. I did have a Living Will but revised it few days before entering hospital, along with a Will. I was divorced mom 51 years old with a special needs child 18 years old and I almost died. I’m a survivor now as I’m in remission aftering passing my 3 year goal. Also look into GenesisLegacy.org out of Tennessee for preparation of death. I’m so lucky, and my faith is what held me up. I see things so different today.

By: dramon

dramon — Wed, 24 Jun 2009 18:59:43 +0000

Good reminders. I would add that you should also have a will or something that tells people what you want to happen with your children and any assets. My brother-in-law passed away without a will while going through a divorce and his soon to be ex-wife got most of everything. Not what he wanted, but she was his wife when he died.

Also, be sure all your beneficiaries are up to date and who you want.

By: No Debt Plan

No Debt Plan — Wed, 24 Jun 2009 15:57:10 +0000

Man that is rough. A good smack in the face this morning. Glad I have our life insurance in place. It’s not a fun topic to think about — but it is inevitable. We will all leave this earth at some point whether it be today, tomorrow, or 50 years from now.

Still not an easy pill to swallow.

Thanks for the wakeup call.

By: Marsha

Marsha — Wed, 24 Jun 2009 15:55:17 +0000

Being prepared also means leaving some kind of organized collection of information about your assets and debts to make it easier on your survivors to deal with your estate. This is something that everyone should do – not just people with families. Trent over at The Simple Dollar did a great post on this recently.

By: Liane

Liane — Wed, 24 Jun 2009 14:48:03 +0000

Your article is very timely as I just lost a friend this past week myself; she was only 40 years old and died of cardiac arrest. She was living with her sister, was unemployed, and needless to say, her family was not prepared to have to come up with even the bare expenses of a small funeral.

I think it’s important that we all discipline ourselves to be in preparation for the unexpected. Ten years ago, we were a one income family with no health insurance. My then six-year old daughter was diagnosed with Lyme Meningitis that nearly killed her. She spent two weeks at a children’s hospital under the care of a neurologist, opthamalogist, rheumatologist, and infectious disease specialists. By the blessing of God, the hospital covered all of her medical costs (we were prepared to sell our home if we had to). But it was an eye-opening experience as to how we cannot control the issues that come up unexpectedly. But, we can try to be as prepared as possible to deal with them the best we know how.

Thank you for your advice regarding a topic no one wants to think about.

By: Ric

Ric — Wed, 24 Jun 2009 11:22:17 +0000

Thanks for the moving article. As a State Farm Agent myself I deal with this on a a daily basis. Sometimes it is so hard to help people understand that bad stuff happens to good people, way before they are due.

Since that article is older do you still feel the same about whole life?

I know that none of the clients I have lost a dime in a whole life policy. In fact all of them made money while the market sunk.

Don’t get me wrong I am a huge fan of term and investing the difference, and now especially RETURN OF PREMIUM TERM, but a whole life policy certainly can replace money allocated to the bond portion of your portfolio AND secure you life insurance making your money pull double duty.

Besides in this day and age, buy term and invest the difference often becomes buy term and SPEND the difference.