Should I Get Umbrella Insurance?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 3 July 2023
⏱️ 14 minutes
🧾️ Download transcript
Summary
Is there a net worth number at which you would suggest purchasing umbrella insurance?
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Transcript
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| 0:00.0 | Welcome to the Jill on Money Show. It's Monday, July 3. I know many of you will not be listening |
| 0:09.2 | to this for a while. Maybe you're taking some time off or into long independence day, week, |
| 0:14.8 | weekend, whatever. We are still here ready to answer your financial questions. Don't forget that |
| 0:22.3 | today the stock market is open until 1 o'clock, 115 for eligible options. I just thought I would |
| 0:29.5 | say that because I'm on the New York Stock Exchange website. I think the bond market is often |
| 0:33.5 | closed on these days because they're much more appreciative of our national holidays in the |
| 0:38.8 | bond market than they are in the stock market. So if you want to make a trade, go crazy. I don't |
| 0:44.4 | actually think that that's the best idea. If you do feel like you want to do something, how about |
| 0:49.6 | doing this? Go to our website JillonMoney.com. Click the contact us button and ask us a question |
| 0:55.7 | about anything going on in your life, your financial life, any big decision going on. Don't |
| 1:00.1 | forget to let us know if you want to join us to come on the air. And while you're on the website, |
| 1:04.5 | you can see all the great content. There's a lot of free stuff. There's stuff that you can buy, |
| 1:08.4 | like my book, The Great Money Reset, 10 bold steps to turn chaos into opportunity. And you can |
| 1:14.4 | check out our new service called JillonMoneyLive. All right, Mark, I think we're going to do some |
| 1:20.3 | emails today. This is from a Mark who writes, hi, Jill and Mark. I said, Mark a lot of times. I |
| 1:26.1 | listen to your podcast daily. The question I have is for my daughter, but as a father, I feel I |
| 1:32.3 | face the same pressures, if not more in her decision. Okay, I like that. Daughter is 26. |
| 1:39.1 | It makes $105,000 a year. No debt. $120,000 in savings. $30,000 in a 401K. And she contributes |
| 1:48.7 | 10%. How about that? That's great. Daughter's fiance's 30 makes $120,000, $90,000 a student loan debt, |
| 1:58.8 | $40,000 of savings, $50,000 in a 401K also contributes 10%. He's going to need a new car in the next |
| 2:05.7 | couple of years. They're planning on getting married next year and have begun house hunting. |
| 2:10.9 | House hunting. Oh, she's so young. 26 and 30. Here's the issue with house prices and mortgage rates |
... |
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