Dear Dave, When it comes to buying life insurance, should the coverage amount be based solely on current earnings? I have good reason to believe my income is going to increase significantly soon. Wesley Dear Wesley, The purpose of life insurance is to take care of your family if something unexpected happens to you. You don’t want…… MORE
Dave Says: Term life insurance, too?
Dear Dave, My husband and I are wondering if we need term life insurance policies. We both have accidental death and dismemberment coverage provided free of charge through our employers. Do we need additional coverage? Rebecca Dear Rebecca, Yes, you both need to find good level term life insurance immediately! Accidental death and dismemberment policies are nothing…… MORE
Dave Says: Adjust our emergency fund?
Dear Dave, My husband and I have been married five years, and we’ve decided we want to have children. We’ve both been working full time since our wedding, and we were wondering if we should adjust our emergency fund and retirement investing to accommodate all the upcoming life changes that go along with having a…… MORE
Dave Says: Micro investing apps?
Dear Dave, What is your opinion on micro investing apps like Acorns and Betterment? Are these good vehicles for building wealth in the long term, and are there any major drawbacks to these types of services? Alex Dear Alex, I’m not saying there’s anything really wrong with Acorns or Betterment, but they do different things.…… MORE
5 ways to achieve your own version of life balance
5 ways to achieve your own version of life balance By Christy Wright Overworked. Overscheduled. Overconnected. That’s the world we live in today. It’s overwhelming to say the least! The U.S. Bureau of Labor Statistics found, on average, people with full-time jobs work more than the 40 hours required of them during the workweek, and even…… MORE
Dave Says: Honesty and togetherness
I’ve never hidden debt from my husband, but I do hide money from him on occasion…… MORE
Dave Says: Helping Friends
Dear Dave, I’m on Baby Step 2 of your plan, and I’ll be debt-free except for my home by the end of the year. I have a friend who is very irresponsible with his money, and he often asks to “borrow” cash between paychecks. I don’t want to be cruel, but things are getting out…… MORE
Dave Says: The perfect time?
Dear Dave, My wife and I are both 46, and we have two teenagers in middle school. We were told recently that now is the perfect time for us to buy long-term care insurance. How do you feel about this in our situation? Thomas Dear Thomas, No, now is not the perfect time for you…… MORE
Dave Says: Lost and overwhelmed
Dear Dave, My fiancé and I just started your class, but we’re having trouble getting our beginner emergency fund together. We both work full-time, and I make $59,000 a year while he has worked in retail for several years and makes $22,000 to $25,000. I’m trying to manage a couple of side jobs, but we…… MORE
Dave Says: Diversify advisors?
Dear Dave, We’re wondering if we should diversify our investments by hiring multiple advisors with different companies, so we won’t have all our eggs in one basket. Your thoughts would be appreciated. Marya Dear Marya, I would get one advisor, and I wouldn’t invest all my mutual funds in one fund. Virtually all mutual fund advisors can sell pretty…… MORE
