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Money and Finances
Reply to "Life Insurance-How Much and When to Drop"
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[quote=Anonymous]We are in early 50s and have about $300K each - most of it thru work. You need to run a comprehensive calculator that includes what you would get survvivor benefits from social security. We each make around $150K. But we have a lot of money saved so like prior poster we are self insured. We have 3 school age kids and a mortgage that ends in 10 years and that is 1/3 the worth of the house. One interesting thing that happens is that no longer have to save for 2 peoples. The answer that you need 10x (or 8x) your income is great for insurance sales people but does apply to everyone.[/quote]
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