You can’t have top-tier colleges without picturesque college towns
Maryland is home to some of the most prestigious colleges and universities in the country. In this article, we’ll explore the best college towns in Maryland, which offer a delightful combination of academic excellence, cultural richness and professional opportunities. College Park, Chestertown, Baltimore, Frederick and Towson are just a few examples of the best college towns in Maryland, and we’ll dive into what makes each one unique.
College Park is a vibrant town located just outside of Washington, D.C. and home to the University of Maryland. This flagship institution is well-known for its cutting-edge research, strong athletics programs and a wide range of academic avenues. College Park itself is an attractive place for students and longtime locals alike thanks to its convenient location, great public transportation system and thriving local economy.
One of the main attractions of College Park is its proximity to Washington, D.C. Students here have easy access to internships, job opportunities and cultural experiences in the nation’s capital. Furthermore, College Park has a variety of restaurants, bars and entertainment options that cater to the college crowd.
The town’s commitment to sustainability and green initiatives also makes it an appealing choice for environmentally conscious individuals. Not to mention a more affordable rent average compared to
Chestertown is situated on the picturesque Chester River on Maryland’s Eastern Shore. This idyllic setting is home to Washington College, a small liberal arts institution with a strong sense of community. Chestertown’s rich history, dating back to the 18th century, adds to the town’s allure, making it a great place to study and live.
Chestertown is a haven for those who appreciate the arts, as it hosts numerous gallery shows, theatrical events and live music throughout the year. The town’s waterfront location also provides ample opportunity for boating, fishing and kayaking. Furthermore, the lively farmers market, boutique shops and cozy cafes give Chestertown a warm, small-town charm that’s hard to resist.
Baltimore is home to numerous colleges and universities, including the esteemed Johns Hopkins University, Loyola University Maryland and the Maryland Institute College of Art. As one of the best college towns in Maryland, Baltimore provides a diverse urban experience with a rich culture, exciting nightlife and a thriving food scene.
Baltimore’s Inner Harbor is a popular destination for locals and tourists alike, with attractions including the National Aquarium, the Maryland Science Center and various shops and restaurants. The city’s many distinctive neighborhoods, like Fells Point, Federal Hill and Hampden, offer individually unique charm and a variety of entertainment options for students and residents. Furthermore, Baltimore’s numerous museums, historic sites and art galleries provide endless opportunities for cultural enrichment and artistic inspiration.
Located in western Maryland, Frederick is a historic town that’s home to Hood College and Frederick Community College. With its stunning architecture and lively arts scene, Frederick offers a unique blend of small-town charm and urban sophistication. The town’s bustling downtown area is lined with local shops, art galleries and an array of dining options, making it a popular destination for students and full-time residents.
Frederick’s commitment to preserving its history is evident in its beautifully restored 18th and 19th-century buildings, which provide a picturesque backdrop for four years of higher education. Events like the Frederick Festival of the Arts, In the Street Festival and the Maryland Craft Beer Festival make Frederick an exciting place to live and study.
Outdoor enthusiasts will also appreciate the town’s proximity to the Catoctin Mountains and the numerous parks and trails in the area.
A suburb located just north of Baltimore, Towson is another contender for the title of one of the best college towns in Maryland. Towson University, the second-largest university in the state, is at the heart of this thriving community. The campus features state-of-the-art facilities and a wide range of academic programs, making it an attractive option for students seeking a quality education in a cool Maryland community.
Towson offers a perfect blend of urban and suburban living, with a vibrant downtown area featuring shops, restaurants and plenty of entertainment options. The Towson Town Center, one of the largest shopping malls in the region, attracts shoppers from across the state. Additionally, the town’s numerous parks provide a welcome respite from the hustle and bustle of daily life.
Another town worth considering is Salisbury, a picturesque town located on the Eastern Shore of Maryland. Salisbury is home to Salisbury University, a public institution known for its strong liberal arts and business programs. The town has a laid-back atmosphere, with plenty of outdoor activities available due to its proximity to the Wicomico River and the Chesapeake Bay.
Downtown Salisbury has seen a revival in recent years, with new shops, restaurants and galleries popping up all the time. The town hosts various events and festivals throughout the year, including the Maryland Folk Festival which showcases local artists and musicians.
Finally, we have Annapolis, the state capital of Maryland, which is home to the United States Naval Academy and St. John’s College. This historic seaport town is well-known for its colonial architecture, cobblestone streets and waterfront location along the Chesapeake Bay. Annapolis offers a rich cultural experience, with numerous museums, art galleries and historic sites to explore.
Annapolis’ thriving downtown area features a wide variety of restaurants, boutiques and cafes that cater to students and residents. The town also boasts a lively arts and music scene, with events like the Annapolis Film Festival and Maryland Day hosted locally.
Make a Maryland college town your home
The best college towns in Maryland offer a diverse range of experiences for students and residents alike. From the bustling urban life of Baltimore to the charming waterfront town of Chestertown, each of these towns has its unique charm and appeal. College Park, Frederick and Towson provide additional options for those seeking a balance between urban and suburban living, while Salisbury and Annapolis offer picturesque settings with rich histories.
Maryland’s college towns boast excellent educational institutions, thriving arts and culture scenes and a wide array of recreational opportunities.
Whether you’re a prospective student, a proud alumnus, or simply looking for a new place to call home, consider exploring the best college towns in Maryland to find the perfect community for your needs.
An unfamiliar city can be more than a little unnerving. Getting to know the area while simultaneously trying to make friends can be scary. Joining a volunteer organization can help you achieve both goals at once.
Volunteering is not only rewarding, but it also gives you a chance to meet other people in your area and build networks. If you’re renting in a new city, networking is an important way to make friends and contacts. Familiar faces will make you feel more at home.
There are numerous ways to get involved with charity organizations, non-profit foundations, or religious groups. Check out the information below on how to find volunteer opportunities, no matter where you call home.
Think about what kind of activities you enjoy, and look for similar volunteering events or organizations. If you find the list growing too long, limit your possible choices to the top five.
It’s also a good idea, but certainly not necessary, to tie in your skill-set with a charity event. Many organizations need assistance building new homes, tending to the elderly, painting over graffiti, or raising money for a cause. There are many volunteer opportunities for just about everyone to lend a helping hand.
Disease can cause human suffering, but it also brings people together. Volunteers offer significant contribution through their assistance and compassionate outlook of the struggle with Alzheimer’s, breast cancer, HIV/AIDS and other deadly diseases.
Nearly every disease has an opportunity for involvement. For example, the National Breast Cancer Association encourages volunteers to help host fundraisers to raise money in the fight against breast cancer. The National Multiple Sclerosis Society also allows you to search for local volunteer opportunities online. No matter that the disease, there’s probably something going on in your area. If there are no events, why not take the initiative as a new renter and set something up?
Are you an animal lover? The best option is to volunteer at your local shelter. Many of these shelters are connected to the Animal Humane Society, which offers plenty of ways to care for a variety of different animals. Inside the shelter, you’ll find opportunities to help not only cats and dogs, but also rabbits, guinea pigs, birds, reptiles, pot-belly pigs and other animals in need of assistance. You can take dogs on walks, or assist with nail clipping, feeding, bathing or grooming. Even if your rental policy doesn’t permit pets, caring for these animals lets you connect them with other adoption opportunities. Your furry friends will definitely thank you for your hard work.
Another way to impact the community and become familiar with the city is at your local volunteer fire or emergency medical service department. These departments are active throughout many areas of the country. Not only will you have the opportunity to save lives, but you will build camaraderie with other local volunteers.
Check with your local hospital to see if they know of any programs requiring volunteer assistance. You might be directed to a nursing home needing you to come in weekly to read to the elderly, or you might be asked to assist with a hospital’s fundraising project.
If you enjoy sports or the great outdoors, there are plenty of ways to be active, have fun, and help out your neighbors. For starters, youth sport leagues often need coaches and assistant coaches to help develop training programs, and teach kids about basic skills and teamwork. If you’re a parent, this is a fantastic way to participate in your kid’s life and help his or her teammates.
The Boy and Girl Scouts as well as other groups have local chapters around the country, and they’re often looking for scout leaders and other volunteers to help young people learn values, earn an appreciation of the outdoors, and learn about civic participation. These types of organizations are a great way to give back to the community.
Many people want to help those experiencing poverty or homelessness, as they are often the most vulnerable members of society. Organizations like Habitat for Humanity help build homes for those who are homeless or on a low-income. Local soup kitchens, homeless shelters and food pantries are always looking for new volunteers as well, which provide you with endless ways to support those facing poverty.
Do you know of a special charity or volunteer organization you want the world to know about? Let us know in the comments or share with everyone via Twitter, and spread the good word!
Before my husband and I got our financial act together, we didn’t have a household budget. Since we didn’t have and sort of plan, we spent all of our discretionary income on “wants” and financed anything that cost more money than we had. And the scariest part is that we never really thought much of it. Our income always lasted until the next payday, so we never worried about making ends meet.
But, after years of frivolous spending, we finally snapped out of it. Becoming pregnant with our second child made us start thinking seriously about our financial future, and the impending impact of another mouth to feed actually made us afraid. All of a sudden, we realized that we weren’t kids anymore. Our twenties were spent chasing adventures and spending cash like it was going out of style. And here we were, in our thirties now and on the verge of having two children to take care of. And although we were completely clueless how things had gotten so out of control, we decided that we had to take control of our financial destiny.
An Unfortunate Truth
We started by combing over several months of bank statements, and what we uncovered was almost unbelievable. We quickly realized that we were spending over $1000 per month on groceries for two adults and a baby. We were also going out to dinner a lot. The truth is, we were actually eating most of our expendable income. We aren’t fancy folks, but we do happen to enjoy some expensive meals and ingredients. And we weren’t enjoying them in moderation; we were eating like a king and queen on a daily basis, and our pocketbooks showed it.
We Took Action
After seeing our pathetic results in black and white, we sat down and created a household budget. Since our food budget was the main culprit of our spending, we decided to make drastic changes. After some number crunching, we agreed that we should be able to feed our family for about $500 per month. We also decided that all restaurant spending would have to come out of our grocery category. So if we decided to go out to dinner, that meant that we would have to spend less at the grocery store. I wasn’t particularly happy about it, but our new plan made us much more thoughtful about our food spending. And since we still wanted to eat out occasionally, we made room in our budget by eating cheap meals and using up all of the items we already had in our pantry. It worked.
Related >> Is It Possible That You Don’t Need an Emergency Fund?
We also cut out all other non-essentials. I’m pretty sure I cried when my husband called and cancelled our satellite television package. I was a hopeless reality television junkie, and I was convinced I would be miserable without all of my favorite shows. But life went on. And more importantly, we started saving a ton of money. Using the debt snowball method, we allocated all of our new-found cash toward the various debts that we had saddled ourselves with. And after 18 months of rapid debt repayment, only our mortgage was left standing.
Household Budgets Can and Do Work
I didn’t know it at the time, but creating and sticking to a household budget was probably the best thing we have ever done for ourselves. It wasn’t always easy. And quite truthfully, the process made us take a hard look at ourselves and our shortcomings. On the other hand, we’re now more confident in our choices and building wealth like never before. We’re also on the same pen and paper budget that we started with, and there’s a reason why we haven’t changed anything. It works.
Sticking to a household budget can feel cumbersome and restrictive. It might make you feel vulnerable or deprived. On the other hand, creating a budget can completely change your financial destiny. Have you ever tracked your spending and created a budget? Did it work? If you’ve tried and failed, there are a variety of reasons why your household budget might not be working.
Related >> Creating Objective Rules for Spending
Here are some possible explanations:
You’re underestimating your expenses. It can be difficult to estimate irregular expenses like utility bills. However, it’s important to be realistic about your estimated monthly costs. Overestimate your expenses if you have to. That way, you won’t always come up short.
You aren’t budgeting for everything. Are you forgetting to budget for gifts? Expenses for your children’s school? Did you forget your bi-annual car insurance bill? Make sure to think of everything that needs to be included in your monthly budget. Other expenses that are often overlooked can include home and auto maintenance and bills that are paid on an irregular basis. It’s more challenging to budget for these items, but it can be done. For example, if your car insurance needs to be paid every six months, you may want to budget 1/6 of your premium on a monthly basis.
You don’t have an emergency fund. Whenever unplanned expenses come up, an emergency fund can fill in the gaps without knocking your budget off track. It’s also important to only use your emergency fund for emergencies, and to not see it as an extension of your monthly budget.
Your expenses are too high. If your income is barely meeting your expenses, it is probably time to cut some things out. Do you really need the NFL Sunday Ticket? How about your smart phone? Is it necessary to get your nails professionally done? These are just an example of some of the expenses that can be cut out of your household budget if needed. It may hurt at first, but you will survive.
You aren’t keeping track of your spending. Certain budget categories can be trickier than others. Grocery spending, for instance, has a tendency to sneak up on me if I don’t track it closely. You can avoid going over budget by keeping an ongoing list of your spending in whatever category you find budget-busting. That way, you can check in at any time to see where you’re at.
You’re not saying “no” to yourself. If you are constantly spending more than you have budgeted, it might be time to take a serious look at your choices. If you want your budget to work, it’s crucial to learn to tell yourself “no.” Always telling yourself “yes” can guarantee budget failure.
Of course, not everyone needs a budget. For some reason, certain people can successfully execute their financial plans without writing them down. My parents, for instance, have always been the epitome of frugality and financial prudence despite the fact that they never really had a written budget. There’s definitely nothing wrong with forgoing a written budget if you really don’t need one.
However, many of us do need a written plan for the money we earn, and there’s no shame in admitting it. I’ve definitely learned that I’m hopeless without one. And if you’ve tried to household budget and failed, I have great news: it’s never too late to try again. Don’t be afraid to start from scratch. If you give your new budget a chance to work, you could quickly become a financial force to be reckoned with.
Do you have a budget? What system works best for you?
Inside: Learn why appreciation matters and how to express it in a more meaningful way. Also, find ways and gifs to say I appreciate you. We appreciate you.
Have you ever been told how much or many things someone has done for you, but it just felt like the person was trying to get something from you?
I know I have.
In a perfect world, we would all be appreciative of what others do for us and those who care about us in our lives. We should never forget that there are people out there doing the best they can with their time and energy (not always easy) because they love us unconditionally.
When you say thank you, it means the world.
People are quick to forget how important people in our lives really are and don’t appreciate them enough. But all that changes when we show appreciation for others; not only do they feel appreciated, but their lives start to revolve around us even more!
In fact, giving thanks and showing appreciation will make you happier (source).
So, how exactly do you say I appreciate you and truly mean it.
What is appreciation?
Appreciation is a feeling of gratefulness for what has been received.
It can be directed towards people, things, or events. When we feel appreciated, it fills us with warmth and happiness. We may find that our attitude and outlook on life become more positive as a result.
The meaning behind the words is powerful.
Why is appreciation important?
There are many reasons why appreciation matters.
For one, it makes the person who is being appreciated feel special and valued. It also helps to build closer relationships between people. When we’re appreciated for our efforts, we’re more likely to try harder next time and to be motivated to do our best.
Furthermore, appreciation can help to smooth over any misunderstandings or hurt feelings that may have arisen previously.
We need to let people know when we do things wrong and apologize for it–and we also need to express our gratitude for the good things they do.
Most importantly, appreciating others makes the world a better place!
There are many reasons why appreciation matters, including the following:
It makes people feel good about themselves and appreciated.
It strengthens relationships.
It motivates people to do more.
It helps people feel more secure in their jobs.
It increases loyalty and commitment to the organization.
It encourages people to go above and beyond the call of duty.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What are some ways to show appreciation?
There are many ways to show appreciation, and you can choose what type of appreciation best suits the person.
Expressing gratitude is important because it lets someone know how much they mean to you.
A thank you note is the most common form of appreciation. Other popular examples of ways to show appreciation include hugs, small gifts, or flowers.
Any act of service is also a good way to show appreciation.
How can appreciation improve our relationships?
When we appreciate someone, it makes them feel good. It shows that we care about them and that we value their presence in our lives. When we take the time to express our gratitude in a thoughtful way, it can really brighten someone’s day and make them feel special.
There are many ways to show appreciation, but some of our favorite methods include sending small gifts, expressing interest in what the other person is saying or doing, and simply asking the recipient what they would like most.
No matter how you choose to do it, being appreciative is a great way to improve any relationship!
A small gesture can go a long way.
In fact, expressing gratitude will improve your relationship.
Ways to Say I Appreciate You
There are many ways to show appreciation for someone, and it often depends on your relationship with that person.
Tell them you appreciate something they did or said.
Here are ways you can verbally say I appreciate you:
“Thank you.”
“Thank you so much.”
“You really came through for me and helped me out.”
“I am so grateful for you.”
“You don’t know what this means to me.”
“I appreciate you taking the time for me.”
“You are so generous.”
“You are so thoughtful.”
“You are amazing.”
“Wow, I am speechless.”
There are thousands of ways to say “I appreciate you.” The key is in your delivery of the message. Non-verbal communication is more important than the words that come out of your mouth.
Here are some other popular ideas to show you appreciate someone:
Write a heartfelt letter (or email) expressing your gratitude.
Thank people in person.
Give them a pat on the back or high five.
Bear hugs are always loved!
Make a donation in their name to a charity they support.
Organize and participate in an activity they love, such as a picnic or game night.
Create or contribute to an online tribute or memory book.
Put together a photo album of cherished memories.
Invite them to lunch and listen closely to what they say.
Give them an unexpected gift, such as a book, a favorite candy bar, or flowers.
Give them their favorite food as a treat.
If someone does something extra for you, thank them and show appreciation.
Saying “thank you” is a small gesture that can have a big impact. It costs nothing but it conveys a lot of appreciation and respect.
How can we show appreciation to our family and friends?
Showing appreciation to our loved ones is one of the most important things we can do as humans. Fortunately, there are many ways to show gratitude, both big and small.
Here are a few examples:
Say thank you! A simple “thank you” goes a long way.
Write a thank you card. This is a more personal way of showing your appreciation. Use this list of reasons I love you.
Bring flowers. Flowers brighten up any space and bring a sense of hope and peace.
Cook or clean for someone who needs it. This act of service often leads to a positive response from the recipient, making both parties happy in the end.
Run errands. Additionally, small gestures like helping someone out with errands can also relieve some stress.
Take care of children/elderly parents. This is an easy way to help someone out and say thanks.
Encourage them FI. Many people are confused about financial freedom. Show them how to FI.
Share appreciation quotes on social media or in conversation. There are lots of great quotes out there about being grateful, so find ones that resonate with you and share them with your friends and family.
Talk about a time when someone showed you appreciation in a meaningful way. When we take the time to reflect on moments where we felt appreciated, it makes those moments even more powerful.
Our community is our friends and family. These are the people that will be with you through thick and thin. So, make sure to show appreciation to them the most and the most often!
How can we show appreciation at work?
There are many ways to show appreciation at work with your co-workers. Some people might prefer words of gratitude, while others may appreciate a gesture or gift.
No matter what someone’s preference is, there are plenty of ways to show appreciation in the workplace.
One way to express gratitude is through different actions that include words, gestures, and gifts. Here are some work-specific examples:
Say “thank you.” Words are powerful
Write a thank-you note or email. Simple and great way to show your appreciation.
Bring up the appreciation during a meeting. Another way to acknowledge someone’s hard work is by simply acknowledging it–for example, if a co-worker does something for you, say “thank you.”
Send a Gem Award. Many companies offer small bonuses to recognize other employees for a job well done. Nominate them.
Motivate with Quotes. Take one of the millionaire quotes to show appreciation and keep everyone motivated.
These small acts help increase team velocity and morale, making the workplace more pleasant for everyone involved.
How can we show appreciation to our employees?
Showing appreciation for employees is a great way to build a positive work environment and express your gratitude. It also helps keep morale high and lets employees know that they are valued members of the team.
However, it’s important not to take your employees for granted–be there when they need you and do something special every once in a while to show how much you care!
Make it clear that you value their contributions.
Give them a shout-out in front of the group.
Tell them you appreciate their hard work and dedication.
Find ways to give employees more responsibility and autonomy at work.
When you have a meeting, ask people to say one thing they like about other employees.
Show them the importance of becoming financially independent.
Thank people for doing a good job on a project or task by giving them more challenging opportunities to grow in the future.
Tell them how their work has made a difference in your life.
If you have to criticize, do it privately and only if necessary.
Make sure they know you are there to support them.
In the workplace, giving gifts can be misconstrued so make sure you focus on being a supportive leader and boss. Also, you can always bring in lunch or breakfast for the whole team.
By showing appreciation to your employees, you will cut down on those good excuses to miss work.
I appreciate you in Spanish
As I’ve mentioned before, each language has different ways of showing gratitude. In Spanish, there are a few phrases that are commonly used to say “thank you.” Some of these common phrases include “gracias,” or “muchas gracias;” which mean “thank you” or “thank you very much.”
It is important to use the right phrase depending on the situation and who you are speaking to.
To say I appreciate you in Spanish, you would say:
te aprecio
If you wanted to really express your gratitude even more and say, “I appreciate you very much.”
te aprecio muchísimo
Learning another language is a great skill. In fact, many people have had great success with Rosetta Stone.
How to Respond to I Appreciate You or We Appreciate you
Acknowledge the person when they do something nice for you–even if it’s just picking up some milk from the store on their way home from work. Touching base regularly allows both parties to feel appreciated and strengthens the relationship over time.
It is important to give a thank you back when someone does something nice. It is also important to acknowledge their work and show that it’s appreciated. When receiving gestures such as this, it’s important to show appreciation by saying “I appreciate you” in return.
Does I appreciate you mean I love you?
There is no one-size-fits-all answer to this question, as the meaning of “I appreciate you” can vary depending on the context.
However, in general, saying “I appreciate you” usually means that you are grateful for that person and what they have done for you. It can also be seen as a sign of appreciation and respect.
Saying “I appreciate you” can be a difficult thing for some people. It might feel like they are saying “I love you” and that can be a scary prospect for some.
However, appreciation is an incredibly important emotion and it should not be withheld.
There are many ways to show appreciation, including, but not limited to, verbal compliments, thoughtful gifts, and kind deeds.
For those in a close relationship, “I appreciate you” could also mean “I love you.”
I Appreciate You Gifts
Many people turn to gifts to say I appreciate you.
It is the easiest way to say thank you.
The whole world wants to tell their recipient that they appreciate them.
These I appreciate you gifts are perfect for any person in your life!
Here are the best gifts to show a recipient you appreciate them:
These are for the husbands, boyfriends, and significant others – specifically written for the guys in mind.
Perfect gifts to say I appreciate you to all of the women in your life!
I Appreciate you GIF
Okay, I will be honest with you! Personally, I love using GIFs! Like. all. the. time.
I find them some of my favorite ways to express what I truly mean. We live in a digital world, so you might as well explore my top 10 favorites I appreciate you gifs.
Also, this is where you can find them when sending a text message to others.
I Appreciate You Quotes
Being grateful is one of the most important things we can do for ourselves and for those around us. It helps us to stay positive, build strong relationships, and feel happier overall.
Here are a few of the most popular I appreciate you quotes:
“What would I do without you in my life.”
“Your thoughtfulness will always be remembered.”
“Words cannot express my feelings, nor my thanks for all your help.”
“As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” – JFK
“You cannot do a kindness too soon because you never know how soon it will be too late.” – Ralph Waldo Emerson
“Never let the things you want make you forget the things you have.” – Anonymous
“Thank you for staying by my side even though I tried to push you away.”
“Thank you for accepting me as I am, with my virtues and defects.” – Jenni Rivera
“When I count my blessing, I count you twice.”
“There’s no possible way, I could ever repay, How I wish, there were more I could do, But, I thank you my friend, my friend to the end.” – Jim Thistle
Write handwritten notes expressing your gratitude by starting off with one of these I appreciate you quotes. This is the best way to show someone how much you appreciate them!
We appreciate you in our everyday lives
Showing appreciation is a key way to maintain healthy relationships with the people around us. It can be difficult to know how to show appreciation, especially if we don’t feel comfortable putting our feelings into words.
However, there are many ways to show appreciation, and it’s important to find what works best for both the giver and the recipient.
Some gestures that show appreciation are small, such as sending a thank-you card or mentioning that you appreciate something the person has done for you. Other actions can be more personal, such as touching farewell letters to colleagues who are leaving your company or those who have passed away.
And finally, there are everyday expressions of gratitude that we can all do in our lives.
Humans have an innate need to feel appreciated, and when someone hears a few words of kindness, they get an energy burst that makes them feel good.
Know someone else that needs this, too? Then, please share!!
By Peter AndersonLeave a Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited April 28, 2009.
Of what use is money in the hand of a fool, since he has no desire to get wisdom? Proverbs 17:16
This speaks to some of the things we were talking about in yesterday’s post. Sometimes you can become blinded by greed, and make decisions that aren’t really in your own best interests. We spend money blindly on things that aren’t really a safe bet. As the verse says, if we play the part of the fool and don’t use God’s wisdom, then that money is of no use to us in the first place. We need to make sure that we’re doing things that aren’t foolish, and that aren’t guided by a blind desire for money.
Related Posts
Bible Verse Of The Day
Be strong and courageous. Do not be afraid or terrified because of them, for the LORD your God goes with you; he will never leave…
Bible Verse Of The Day
Are not five sparrows sold for two pennies? Yet not one of them is forgotten in God’s sight. But even the hairs of your head…
Something amazing has happened in the past eighteen months. While I’ve been learning about personal finance — and sharing my knowledge with you — Get Rich Slowly has grown from a small site with a couple hundred readers into a real-life business. GRS currently has 35,000 subscribers and generates $5,000 in monthly revenue. It also takes most of my time. This is a blessing and a curse.
The Blessing
As my income from this site has grown, I’ve been able to achieve my financial goals more quickly. In two weeks, I’ll be debt-free except for the mortgage. I have an emergency fund. I’m maxing out my Roth IRA every year. Get Rich Slowly has also put me in touch with a lot of great people: readers, colleagues, and media contacts. Most of all, I’ve learned tons about personal finance. I’m still a novice when it comes to investing and retirement planning, but I’m a novice who knows how to find the information he needs, and who is willing to share it with others.
The Curse
As wonderful as this site has been to me, it’s not without its drawbacks. Chief among these is that it takes time. Kris and I used to do more things together. I used to have spare time to read books and to play games and to hang out with my friends. Though I still do these things whenever possible, more of my time is devoted to providing quality content. Writing Get Rich Slowly is literally like having a second full-time job.
The Decision
After months of deliberation, I’ve decided to quit my job at the family business.
Yes, having two sources of income provides a tremendous sense of security, but I cannot continue at this pace. Lately I’ve struggled to squeeze Get Rich Slowly into the cracks of life: evenings, weekends, down-time at the box factory. As the site has grown, so has the workload. In order to make Get Rich Slowly everything I want it to be, in order to provide the best personal finance information, this site must be my top priority.
Quitting the day job scares me. My web income can support my lifestyle, especially if I’m frugal. But I had developed grand plans of accelerated savings, of paying off my mortgage in just a few years, of traveling around the world. When I quit the day job, I’ll be sacrificing:
The second income.
An additional retirement plan (about $5,000/year).
Daily contact with co-workers and colleagues.
I’ll be trading these sure things for an uncertain future. What guarantee do I have that Get Rich Slowly can continue to produce enough income to support me? What guarantee do I have that I’ll still want to do this three years from now? There are no guarantees.
The Plan
And so I am making a leap of faith. Or, more precisely, several “hops of faith”. In order to provide myself and the business a smooth transition, I’m going to reduce my hours gradually over the coming year.
Beginning 01 January 2008, my Tuesdays will be spent working on Get Rich Slowly.
Beginning April 1st, I’ll drop Thursdays at the box factory.
On July 1st, Mondays will be spent writing.
Next October, I’ll be down to only Wednesdays at the day job.
Finally, on 01 January 2009, I will be an official real-life full-time blogger.
I’ve always wanted to be a professional writer. I just thought I’d write science fiction novels. Or the sorts of short stories you find in Harper’s and The New Yorker. I never imagined I would one day make my living by writing about personal finance.
The Preparation
Now that I’ve committed to taking this leap, I’m scared. I’ve become a master of the worst-case scenario. Yes, Get Rich Slowly has generated enough revenue to support me during the past few months, but what if something goes wrong? What if I run out of things to write? What if Google or FeedBurner cancel their ad programs? What if I lose my thumbs in a blogging accident? What if all these things happen at once?
I’ve had people ask me how to prepare for a potential job loss, or how to make the transition to self-employment. My answers have always been theoretical. Now that I’m facing this situation myself, however, I can tell you the sorts of preparations I made. I think all of these are important:
Crunch the numbers. There are many good reasons to track every penny you spend — potential job loss is one of them. Sit down and go over your records. How much do you spend on food every month? What do you spend on utilities? What could you sacrifice if needed? Run the numbers for a variety of “what if?” scenarios. I’m fortunate to have health insurance through Kris’ job — if I didn’t, the numbers tell me I couldn’t make this leap yet.
Manage your money. You should always be smart with your finances. But when you’ve lost your job, or are about to make a career change, this becomes even more important. I can’t imagine making the move to full-time writer if I wasn’t debt-free (except for the mortgage). If I still had spending problems, this transition would be even more frightening.
Embrace frugality. I’ve done a great job of developing frugal habits over the past two years. I need to maintain these. I need to make use of the library. I need to walk and bike on my errands instead of driving. I need to follow the tips I share with you.
Kill the lifestyle inflation. As my debt-free date approaches, I’ve begun to loosen the grip I’ve had on my spending. We’ve been dining out more often. I’ve been buying toys and gadgets. I had even begun planning to purchase expensive furniture for the living room. All of this needs to stop now.
Bolster the emergency fund. I’m generally an advocate of smaller emergency funds — $500, $1000, $5000. But as I consider my upcoming transition to full-time blogging, I’ve realized I want to have more in savings. Much more. Though it seems like an impossible goal, I’m going to strive to save $20,000 by the end of 2008. (My mind boggles just to type that number.)
Seek professional advice. Consult with an accountant, and maybe even an attorney. There are tax and legal implications that come with starting your own business. Take the time to speak with somebody who knows the rules. Get things right from the start.
Pursue multiple streams of income. Most people have a single stream of income — their job. The more income streams you have, though, the more secure you are. My current situation is a perfect example. When I leave my job at the box factory, I need to pursue other income sources as well. I might consider a part-time job. I might pursue computer consulting work. More likely, however, I’ll start additional web sites (such as Get Fit Slowly, which I hope to have ready for launch by the first of the year). The more sources of income I have, the safer I’ll feel.
Define goals. It’s always good to know which direction you’re headed. In the face of an uncertain future, this becomes even more important. I’ve thought a lot about this lately. Where will I be in five years? In ten? In twenty? I need to decide what my objectives are, and be sure that my other choices align with these.
Focus on what’s important. Because I’m placing all of my faith behind this web site, I need to work to make it the best it can be. I need to provide more useful information, offer more tips, help readers find more answers.
The moment I decided to quit my day job, my entire mindset about money changed. It was as if somebody had thrown a switch in my brain. It’s more important than ever to practice what I preach. I’ve entered Ultra-Frugality Mode. I sat down the other day and crafted a new spending plan. I listed exactly what my monthly obligations are, and what my expected income is. The surplus is earmarked to boost my emergency fund as high as it can go.
It feels good to know that I’ve made some smart money decisions over the past eighteen months. These now serve as a sort of safety net. I don’t have a lot of fixed monthly expenses. I’ve eliminated my debt. I’ve developed the saving habit. These things will help me as I make the transition to working on my own.
The Dream
This decision has been difficult. The box factory is a safe, comfortable environment. It’s a sure thing. By leaving the business, I’m sacrificing stability.
On the other hand, I have to consider what I’m gaining: time. I’m going to gain time to exercise, time to actually respond to e-mail, time to research more extensive articles, time to begin writing the book I’ve had in mind for the past year. I’m going to have a chance to live the pastoral lifestyle I’ve always dreamed of.
I’m finally following some of my own advice: I’ve gathered the guts to pursue my dream. I’m glad to have you along for the ride.
Edit: In the comments, I answer the question, “How much time does running this blog really take?“
By Contributing Author11 Comments – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited January 5, 2018.
Gold is probably one of the most misunderstood areas of investing and economics. Investors typically are split down into one of two irrational groups — those who always think gold is worthless and in a bubble, and those who always think gold is on a permanent one-way trip to the moon. The truth lies somewhere in the middle.
Let’s look at the facts about gold, without ignoring a basic understanding of economics principles and economic history. Hint: both pop-investors and gold bugs are often wrong.
In this article, we’ll look specifically at how gold behaves in the long-term, and what kind of portfolio adequately has gold without going too far to an extreme.
A Few Basic Pro-Gold Facts
Anyone familiar with gold probably knows that plenty of “experts” look down their noses at gold. Many often see it as a barbaric investment. Even Warren Buffett — famous for using high-leveraged equity plays to build a fortune — mocks buying gold, saying that it’s nuts.
Unfortunately, being really good at making money via stocks often makes people blind to the alternatives — like land, gold, and silver. Here are a few undeniable facts that the pro-gold crowd should be familiar with.
1. Gold is safer than TIPS, bonds, and stocks. There is absolutely no way around this — gold doesn’t go bankrupt, doesn’t ever become completely worthless, and over time will beat inflation. TIPS, bonds, stocks — they can’t say this. While a diversified portfolio will out-earn gold over time, gold mixed with a portfolio makes it more secure, and acts as a type of financial insurance. Any of the investment “experts” who might disagree just needs to brush up on economic history.
Of course, by “safer” I don’t mean “more likely to earn money”, I mean “more likely to not become worthless.”
2. Gold is a fantastic diversification tool. When people lose faith in the system, gold goes up. People claim this is because of “fear”. I think it should be more appropriately seen as a measure of the general uncertainty about the system which is often extremely understandable. Stock crash of the 80s? Made gold go through the room. Stock crash of 2008-2009? Well, that’s also put gold through the roof.
As a diversification tool, gold mixed with stocks can make a portfolio much stronger over time, much less volatile, and even much more lucrative if rebalanced correctly.
3. Gold beats inflation over time, period. This is essentially unavoidable. Even though the price of gold is often manipulated by central banks and large financial institutions, it’s always been worth something — enough to sit up and take notice if you see a gold coin on the ground.
If you had 1000 ounces of gold back when Jesus walked the Earth, then you would have been a rich person. The same is true now — you’d have a million and a half dollars. No publicly traded company, no bond, no Treasury Bill, no [fill in the blank] comes close to such a record. Land is sometimes worthless, companies go under over time, governments collapse, currencies dissolve, silver prices have been essentially worthless before… but gold has always been worth a subtantial amount.
Of course, that gold is such a great inflation hedge is also a strike against it in a sense — if your investment just keeps up with inflation over time, then you can’t exactly claim that it’s a way to generate wealth in and of itself over time — the entire appeal is that it’s charts should look relatively flat over the course of a thousand or so years. The only way to actually get “wealthy” with gold is through speculating through the different gold market cycles.
Because of this, gold is best invested by the average person not as a way to make money, but as a way to hold on to one’s money. A “doomsday” insurance policy, in a sense. Because it often counteracts stock-market drops, it can also be used as a good way to make money via rebalancing over time — as a type of stabalizer of your portfolio in case of bear markets for stocks.
What do you think about gold? Do you own any Gold? Do you think it’s old fashioned? Is our current gold market about to collapse or go higher?
Your broker might not have your best interest in mind when they make recommendations to you.
In fact, brokers can legally put their interests ahead of yours.
Did you catch that?
Translated that means that your broker can get a speeding ticket for going 75 mph on the interstate, but won’t get punished for selling you a crap investment that makes them a bunch of money.
This is because most brokers operate under what’s called the suitability standard, which simply means the securities they recommend must be appropriate for you given your financial profile; however, many of the securities that can be considered suitable may be far from the best investment options available at a particular time.
How do you like them apples?
You may be surprised to learn that brokers working under the suitability standard are not legally obligated to find the best prices or the best investment options available at a particular time. As a result, your broker may offer you securities that provide lower returns and carry more significant risks than other alternatives as this may be more profitable for the broker. The suitability standard can apply to brokers that sell insurance, stocks, annuities, or other investment types.
1. Brokers Make Money Even if You Don’t.
This is because of the commissions-based compensation model presently used by many brokerage firms. Let’s say your broker convinces you to buy into XYZ stock at $50 per share. If the price subsequently increases to $60, than your broker may call you and advise you to buy more of the same security because of the 20% appreciation in price. This transaction would then generate a commission for your broker.
On the other hand, let’s say that the same investment in XYZ stock instead dropped to $40 per share. In this case the same broker might call you and still tell you to buy more of the same security because it is now less expensive than it once was and should therefore be considered a bargain. This transaction would also generate a commission for your broker.
Great for them. Not so much for you.
As you can see your broker’s success can have little relation to your own. This represents a misalignment of interests that may cause your broker to benefit at your expense.
2. High commissions are a good thing right?
Brokers may choose to offer you only those investments which pay the highest commissions. To illustrate this point let’s consider another example. Let’s say that investment 1 is the best investment for you, but it offers no commissions to your broker.
On the other hand investment 2 is a worse investment, which pays 5% commission. Under the suitability standard your broker is not obligated to offer you investment 1 and may instead sell you investment 2 in order to collect the commission on the transaction. This conflict of interest is currently permitted under the suitability standard, which is applicable to many brokerage firms.
Isn’t that special?
3. Looks good on paper.
Your broker may sell you an investments that is illiquid or highly risky. This is due to the fact that brokers are often associated with particular issuers of securities or certain investment companies.
As a result they may be limited to offering only the proprietary products sold by their affiliates even though other more attractive investment options may be available in the market. They may also be restricted to particular list of securities and may be compensated to offer one investment over another at any time.
One of the worst examples that I witnessed this was with a portfolio of a friends mom. Her broker had sold her what he called a “safe investment” which was a limited partnership. While some limited partnerships could be considered good investments, this particular one was Medical Capital Holdings.
What’s the big deal about that? Well, this particular limited partnership ended up being a fraud and most investors lost everything that they invested into it. What makes the story even worse, is that this particular broker thought it was “suitable” to put over 1/3 of her portfolio into it.
4. Their commissions can eat away your returns.
If you’re paying commissions on a per-trade basis, you may be spending more than you might expect.
For example, if you’re charged 2% per trade, then making just three trades per year could result in you paying 6% of your overall portfolio in commissions annually.
5. Alphabet jumbo soup.
Brokers may be using deceptive titles to give you the wrong impression about their compensation model and qualifications. Currently, the shear abundance of professional designations being used within the financial services industry is confusing even to the most experienced investors. However, understanding the differences between these titles could have a dramatic effect on your long-term investment results and overall satisfaction.
As an example, the term financial advisor is one of the most used terms in the industry; however, many of the individuals using this title are sales people looking to meet quotas by selling financial products. They may in some cases sell non-marketable securities, which include long-term commitments, excessive fees, and a high level of risk.
Titles with the word “senior” — Certified Senior Advisor (CSA) and Certified Senior Consultant (CSC), for instance — have come under a great deal of scrutiny. I get offers in the mail all the time to buy designations. Don’t let the alphabet soup impress you. The only one that should in the financial planning profession is the CFP® designation. Other notables are the CFA and CPA designation.
6. I have a sales quota.
I love when I get a statement from a competitor that is sponsored by a mutual fund or insurance company. The broker claims to them that they have their clients best interest at heart and can utilize all types of investment choices, except that they only investments I see are from that companies proprietary products.
Hmmm……now whose best interest is first? I assure you not the client.
7. My records clean….kind of
Your broker is not obligated to tell you if there’s anything on his or her record. And why they should they? It’s reported that 70% of prospective clients do not do a background check on the broker before hiring them.
Want to make sure that your broker doesn’t have a record like Bernie Madoff? Head over to FINRA BrokerCheck to see what’s on your brokers record.
8. It could be better somewhere else.
With a broker you’re dealing with a sales person who may or may not have your best interest in mind. On the other hand, registered investment advisors, also known as RIAs are firms which operate under the fiduciary standard, which means that they are legally obligated to put their client’s interests first at all times.
As an independent registered investment advisor, Alliance Wealth Management, LLC was founded as a welcome alternative to the traditional brokerage model so many investors have become accustom to. We are compensated only by management fees paid directly by our clients.
How do you pay you broker? If you don’t know, maybe it’s time to find out.
If your family was responsible for all of your bills, it could be a mountain of debt and would they have any way of paying off any of those expenses? This is how viewing life insurance as an investment makes it vital that you have some financial protection in case you were to pass away.
Life Insurance with Autism
Do you or a loved one suffer from autism or Asperger’s? Qualifying for life insurance is not impossible. We’ve helped several people get an effective policy before and we’re confident we can do it again.
The insurance company won’t just look at your condition and automatically shove it aside with a decline stamped on it. They know that normally you’re an insurable candidate, but once you apply you’ll have to give them more information about your diagnosis and any other issues that you might also have. The good thing is we’ve compiled some information below and we hope you find it helpful as you go through the process of securing your finances for the future.
Life Insurance Underwriting for Autism/Asperger’s
When you apply for life insurance with autism or Asperger’s, the insurance agent will need to ask several questions about the condition. Applicants need to answer:
Where do you fall on that autism spectrum?
Are there any intellectual or psychiatric limitations that you deal with?
Do you suffer from any muscular ailments?
How does the applicant get by doing daily activities?
Does the applicant have any other major health problems?
What medications is the applicant currently taking?
While there are no medications that apply directly for autism/Asperger’s, applicants may be taking medications for other mental conditions like antidepressants, anxiety medications, and antipsychotic drugs. These medications could be insurable depending on an applicant’s situation.
Insurance companies ask many questions about these conditions because they need lots of information to make a decision. Be sure to provide all this information as insurance companies are more likely to reject an application that looks incomplete.
Life Insurance Quotes with Autism/Asperger’s
Life insurance companies rate applicants with autism or Asperger’s on a few different factors. First, they consider whether an applicant just has autism/Asperger’s or if they have other more serious issues like Rett syndrome or other physical/mental impairments.
Beyond considering these factors, insurance companies will also review an applicant’s overall health to make a decision. I’ve put together a guideline on how an underwriter might end up rating you.
Preferred Plus: With problems in the future likely to arise chances are slim for this category.
Preferred: Another situation where the risk is simply too high for the insurance company to rate you in this section.
Standard: If you are otherwise healthy, and functioning on the top level this is the best rating you can hope to receive.
Table Rating (substandard): Most applicants in the spectrum will be rated here. This isn’t a bad thing, but be aware when looking for quotes that give you a preferred or standard rating that you’re price will end up being higher.
Declines: Do you have Rett syndrome or childhood disintegrative disorder? Then that will be a decline for most if not all carriers. And if you also suffer from muscular or cognitive impairments then you will also most likely have difficulty getting an application approved.
Autism/Asperger’s Insurance Case Studies
Here are two examples of how to navigate the stress of filling out a life insurance application.
Case Study: 23 year old female was diagnosed at the age of 8, parents tried purchasing life insurance for her right away and she was denied, no other physical or mental problems
When this applicant was diagnosed with autism at eight, her parents thought it would be a good idea to buy her life insurance right away before anything else happened. When her application was denied, her parents believed she wouldn’t have a policy approved. After reading our site, they understood her chances right after diagnosis weren’t as good if they would’ve waited for her condition to stable. By trying again this time, the applicant received a Standard rating as her autism hadn’t developed into any other problems.
Case Study #2: Male, 25, had Asperger’s since 10, suffered from depression at 20, starting taking antidepressants at 22 and recovered.
This applicant had Asperger’s since he was 10 and was also diagnosed with depression at 20 partially due to his mental condition. After taking antidepressants for a year, this applicant recovered from his depression and was in better overall health. His rating though was substandard when he first applied. His past history of depression and were worried that this was too much on top of his Asperger’s. We recommended he see his therapist and get a note vouching that due to medication and therapy, this client had his depression under control. With this new information, the applicant applied and received a better rating than before.
If you are looking for life insurance for someone with autism or Asperger’s, it might be a good idea to get some professional help with your application. Agents have the knowledge to let you know when an application should be submitted and which carrier views your condition more favorably.
Ads by Money. We may be compensated if you click this ad.Ad
Affordable Life Insurance with Autism or Aspergers
Click here for information and free insurance quotes, or complete the form to the right side of the page. Each carrier has different algorithms that help them with their risk classes and who gets put in each one. To find the plan that best fits your budget you’ll need to receive many quotes before picking the one that works best for you.
Unlike traditional life insurance agents, we are independent agents, and we can represent as many insurers as we want! With tons of life insurance companies in America, we can narrow down the ones that fit your goals best all while saving you valuable time and saving you hard-earned money.
Let us help you get approved for a plan that works with an applicant who has autism or Asperger’s. Even if you’ve been declined in the past, we can help you get affordable life insurance protection through a no medical exam life insurance plan.
These no medical exam plans mean you can have financial protection and you don’t have to answer medical questions or go through an exam. Everyone deserves to have the insurance protection that their family needs and your health shouldn’t stop you.
Every year, we get dozens and dozens of different questions from applicants about life insurance. All of the questions that we get are very important and we are happy to answer those questions. We’ve noticed that we continue to get very similar questions, which led us to create this article which will answer all of the most common questions that we get.
Here’s a look at some of the common life insurance questions that will come up when it comes to purchasing term life insurance.
1. How Much Life Insurance Should You Buy?
This is a common question that I get all the time. If somebody asks me if they’re concerned about buying too much life insurance, that’s typically only an issue if they just flat out can’t afford it. It’s pretty hard to have too much life insurance. There are several rules of thumb that you can follow and probably the most common is to take ten times your annual salary. For some individuals this might not be enough, but at least it’s somewhere to get going. Another way to look at it is to think of how much you expect to be making in the next five years, especially for the Gen X or Gen Y generation.
To get started, add up your unpaid expenses. Combine your mortgage, student loans, car loans, and any other major expenses. All of those big bills are going straight to your family. The total is your starting block.
The next number that you should account for is your paycheck. Not only will your loved ones have to pay off your debts, If you’re the source of income in your home, make sure they can replace your paycheck with the insurance policy.
2. How Long Of A Term Should You Purchase On Your Life Insurance?
If you are in your mid-30s or younger, then I think you absolutely should purchase a 30 Year Term life insurance at the bare minimum. Some could argue that you only need it for as long as you have your home mortgage and if you pay your house off early, then life insurance is an unneeded expense. If that’s the case and you really do think that you don’t need it, then just stop making the payments. For myself, even though I plan on having my house paid off well before 30 years, it still made since for me to buy a 30 year term policy. Why? For what I’m paying per month, it won’t be that much of an expense in my later 50 or early 60s so that in the event something does happen to me, my family is still taken care of, even more so.
3. Where Should You Buy Your Life Insurance From?
There are so many different options nowadays on where to buy your term life insurance. Many people buy directly from their life insurance agent. Some people buy it online. The one piece of advice I can give you is to make sure to shop around. You can even use the free quote engine on this site that will give you a quick and accurate life insurance quote so you can see how much out of pocket expense you’re looking forward to.
Each insurance company is different, and every company is going to give you drastically different rates depending on how they view your health and their rating system.
Instead of having to wade through all the weeds of the life insurance world, let us do the dirty work for you. Work can bring over 50 insurance quotes to you directly.
4. How Difficult Is It To Pass A Life Insurance Exam?
If you’re in good health, then you should have no worries whatsoever. Make sure to drink plenty of water a few days before the medical exam and follow the nurse’s instructions, especially if they tell you not to eat the morning of.
If you just cannot go through with it then there is always no medical exam policies. You will pay more for these than if you qualify under standard underwriting but the process is faster and can be a good option for the right person.
If you’ve heard that the medical exams are difficult to pass, or if you’ve ever been declined in the past. Don’t assume that a no medical exam plan is your only option.
Each company is going to have different hoops to jump through. If one insurance company declines you, it doesn’t mean that every company is going to. It’s important that you find a company that is going to accept your plan.
Ads by Money. We may be compensated if you click this ad.Ad
5. Should You Buy Term Or Whole Life?
This is a common question that I often get from people who are not sure about how the two different types of insurance policies work. If you’re more concerned about protecting your family with the right amount of coverage, the term life insurance policy is going to be the most affordable. A whole life policy will continue to cover you for the rest of your life, but the cost of whole life insurance is much more than term and you probably won’t be able to afford a whole life policy that gives you the amount of coverage you really need.
6. Should You Buy Return Of Premium Life Insurance?
From what I can tell return of premium insurance seems like it’s much more expensive than what it’s worth. That being said, I am a believer in the markets and that someone could take the difference, invest it and make much more over the next 20 or 30 years. For people that aren’t as confident in the market as I may be, then the return of premium insurance might make sense for them.
7. Should You Buy Life Insurance On Your Child?
Personally I don’t see the value of buying life insurance for your child. I think your child could have much more money if you opened up a custodial account that is invested into good mutual funds. That being said, there are many policies out there that only cost about $7 a month. If it’s not a huge out of pocket expense, then it’s hard for me to argue that you’re wasting your money, but if you’re putting in several hundred dollars a month into the life insurance policy for your child you might want to consider other options.
8. How Can You Check The Ratings On Your Life Insurance Company?
When you’re deciding what carrier to purchase your life insurance from, it’s best to know if they have a solid rating. You can go to websites like Moody’s or AM BEST that will show you the ratings of the life insurance company that makes sure that they are in good standing with the creditors. If you use the form on this page we will make sure you are only working with the top life insurance carriers. It will cut your time and allow you to focus on the type of policy you want instead of the company reliability.
9. What Happens When A Life Insurance Policy Lapses?
A few years ago I had made the mistake of letting one of my term life insurance policies lapse. I had three separate term policies and having a conversation with my wife, I had told her that we were going to let one lapse. Unfortunately, there was some miscommunication and the wrong policy lapsed. It had already been over a month since we realized our error and I was fearful that I’d have to go through the entire life insurance exam process. After making a quick call to life insurance company realized that that was not the case. All we had to do was send a check for the next year and the policy was back in force.
10. When Is A Good Idea To Purchase More Life Insurance?
You always think that you might have enough life insurance until another life event happens. For me, this has happened on three occasions, after I got married, after I had my first son and then after I had my second son. After each life event, I questioned myself whether I had taken out enough life insurance on myself and each time I wasn’t confident in my feeling so, I decided to up the amount of term coverage that I had.
These are just some of the common life insurance questions that people might have when purchasing it. If you have questions before buying life insurance, be sure to speak to an independent life insurance agent prior to purchasing. Be informed and make sure to take care of your loved ones.