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June 03, 2008


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#5 is my biggest concern. Especially when it comes to early retirement when you don't have the option of medicare.

Risk #3: Loss of Spouse

Get out of debt quickly, and have enough life insurance to pay off your outstanding debts in case you die before debt is paid off - that's the best way to support your spouse if you die early.

If I die today, my wife will have a paid off house, no student loan debt, two paid off cars, and about $100,000 to supplement her income.

She could basically live on her current salary for the rest of her life with no problems, simply because all the debt would be out of the way.

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