1960: Why Get Life Insurance If You're Financially Independent by Financial Samurai

Optimal Finance Daily - Financial Independence and Money Advice

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Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 15 July 2022

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sam of Financial Samurai questions getting life insurance if you're financially independent Episode 1960: Why Get Life Insurance If You're Financially Independent by Financial Samurai Sam Dogen's net worth took a beating in 2009 as the world was falling apart. He thought it would be a good idea to start a personal finance site to help himself and others make sense of chaos. After all, he had spent 10 years working in the finance industry, got his MBA from Cal, invested and saved aggressively, and still got financially rocked! Since then, more than 20 million visitors have stopped by FinancialSamurai.com. The original post is located here: https://www.financialsamurai.com/get-life-insurance-financially-independent-can-self-insure/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily Episode 1960.
0:04.6	Why get life insurance if you're financially independent?
0:08.2	By Sam of financialsameraid.com
0:11.8	And I'm your host and personal finance enthusiast, Diana Merriam.
0:16.4	Now let's get right to it as we optimize your life.
0:24.3	Why get life insurance if you're financially independent?
0:27.6	By Sam of financialsameraid.com
0:31.9	I'm often asked why get life insurance if you're financially independent?
0:36.5	It's a good question that merits a deep dive.
0:39.9	I became financially independent in 2012 and have life insurance because I had children
0:45.3	in 2017 and 2019.
0:48.6	Many of you will face the same dilemma once your passive income can cover all of your living
0:53.6	expenses or once your net worth reaches 20 times your gross income.
0:58.7	After all, you're one of the few who care enough about your finances to hear this.
1:03.5	But I'm a little surprised why the folks asking couldn't think of the many reasons why life
1:08.4	insurance might be necessary after reaching fire.
1:12.2	I guess if you haven't reached fire, don't have a family or have never sat down with
1:17.1	an estate planning lawyer, it's hard to know.
1:20.3	Here are some reasons why life insurance is a good idea despite being able to self-insure.
1:27.0	Benefits of life insurance if you're financially independent.
1:31.0	Here are seven key reasons why you should get life insurance after reaching financial
1:35.7	independence or keep an existing policy.
	...

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