The Talk

Make sure you and your spouse or significant other are having 'the talk'. Discussing what happens when one of you dies or if both of you were to die is one of the hardest conversations you're ever going to have. But it's also the absolutely most important conversation you need to have. We had talked multiple times about having life insurance policies and what we would do if one of us was to die.

It's also not a one-time conversation. Having it as soon as your relationship starts is one thing but then as your relationship changes; as you age, as your health changes, as you add children to the situation, if your job changes, or you end up with different expenses this conversation needs to happen again.

I was talking to a friend this week and she said her husband is trying to give her information in case something happens to him and she doesn't want to hear it. She doesn't feel like she understands any of it and emotionally it's really hard to think about it. I know her husband has been doing more work on getting her set up in case he dies. He and Steve were working on a bunch of stuff this fall with their insurance at work.

She is the only one that works outside of the home. They also have little children. And I know he has set up stuff so that she would be able to receive money for approximately 5 years so that their little one could go to kindergarten and she would be able to get a full-time job outside of the home.

This has nothing to do with how smart you are or how much you know about finances or understand any of the language. It's about being prepared because you never know.

On one hand I feel bad that my children are learning all of this information at the ages they are. On the other hand I feel that they are smarter and more informed because of this that's happened. I pray they will have conversations with their spouses about what to do with one of them dies early in their relationship.

Spending a few dollars every paycheck for life insurance is huge when you actually need it. The amount you spend in the amount you receive are totally different from each other. If you could understand the peace of mind I have knowing that I'm receiving an income every month to help replace Steve's income you would go out and buy life insurance today. You would skip eating out for a meal or not get a coffee in the morning everyday or something in your budget that makes it work.