Living in a world of many unexpected things, women are becoming more and more savvy with money. Some people wake up one morning with everything in their lives being perfect, but their day is ended much differently. Married women are not just becoming widows at old ages these days, so it’s best to be prepared as early as possible. But what would happen if I was the one that passed? The knowledge of being smart with money now comes into play yet again.
An article on Yahoo called Women and finances: Growing older makes women better with money. As the old saying goes “with age comes wisdom.” And this plays a big part in the wisdom. Now do you HAVE to wait to be older to become more educated? No way!
The study says “Based on the study data, Joanne Hsu found that approximately 80 percent of the women who participated would match their husband’s financial literacy before widowhood.”
All of this information led me on a search and I stumbled upon Genworth Financial and what I could do to prepare, even though I am younger, for some financial security for not only now, but later in life. I was drawn to their Life Insurance Calculator first and foremost.
According to the Life Insurance Calculator my family my potential need at current age is $320,000, which seems like a lot of money, but this is to pay off our home, college debts if there are any at that time and also funeral expenses. My family should not have to shoulder a burden if something happened to either myself or my husband, so having this coverage would be a great thing. Best of all, Genworth Financial calculates our monthly expense as ONLY $22! I also did research using the same calculator to see how much difference it would be to replace income. $1,390,000 in coverage comes to a total estimated at $77 per month.
Best of all Genworth Financial can assist in placing me in contact with someone who can help us to financially prepare now while we are still young, for the things that are unknown.
Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network. Wording such as all opinions are mine.