My husband does a great job and I love my job and schedule as a substitute teacher. But he wants me to take a full-time job so we can build more wealth. The only debt we have is our house and we have already saved and invested a lot of money. What is your suggestion for this situation?
First and foremost, you are both responsible for looking after each other and your own household. That sounds like you’re doing pretty well. So if he wants you to take a full-time job just to build more wealth, I think that’s a bad idea.
Wealth is quality of life, and quality of life includes giving. This also includes a secure and stable future. But if you have to give up your zest for life – to build up additional wealth or build it at a different pace – well, that’s just wrong for me.
Satisfaction has nothing to do with how many hours you work or how many zeros there are in your bank account. Satisfaction has to do with your state of being. It is related to your feelings of gratitude, happiness, and priorities. The idea that satisfaction is on the same spectrum as ambition? No it is not.
I don’t think you should take a job or schedule that you hate just to pay off your home a few years early. I wouldn’t and I don’t recommend it to you either. People should make something of their life that they enjoy and that they are called to do.
If your children are starving and your bills are not paid, do whatever it takes. But in this case you are happy and you are in a great place. I’m sure your husband is a great guy, but I think he is wrong.
My credit union offers free accidental death and dismemberment insurance. Should i take it?
That’s fine when it’s free. However, I wouldn’t rely on it to be an integral part of my overall financial plan.
For the most part, accidental death and dismemberment guidelines are just a gimmick. You are not doubly dead if you accidentally die, and your spouse or family no longer needs the money if you die in an accident rather than a heart attack. Regardless of this, you need the same insurance coverage and the same protection.
When it comes to life insurance, I recommend a good insurance policy that is 10 to 12 times your annual income. That said, if you’re making $ 50,000 a year, you’ll need coverage of $ 500,000 to $ 600,000.
Still, if it’s really free then I have no problem with the policy. Just make sure you don’t pay any other high fees to join a club in order to get “free” stuff. When that happens, it’s not really free.
Dave Ramsey is a personal money management expert, writer, and national radio personality. Follow him on Twitter at @DaveRamsey.