One of the things that I am clear about with my students and clients is that implementing a Debt elimination plan is not about replacing one form of financial stress with another. Last night I spoke in Rockwall and we were discussing options to streamline costs to add more money to the Debt Investment. I just happen to have two insurance salesman in the the class…actually one used to be an insurance salesman and the other currently is. And a little disagreement came up on which is better…Whole Life Insurance or Term Life. I truly think that it comes down to whatever you are most comfortable with. I always tell my clients and students, if financial advice is going to keep you up at night, it isn’t worth it. Every financial decision you make should not only look at the financial side of the argument but also the quality of life side of the argument. In our Spend Smart book we talk about the myths and realities of insurance. But no matter what the advice is…get educated and then do what you’re most comfortable with.
Keith Phildius
