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Remember life insurance is intended as income replacement to help dependents and or/spouse pay for things that your income would have covered. When you get to the point that you're dependents (Your kids mostly) aren't dependent on your income, you could reduce the amount of life insurance you are carrying.

Michelle Singletary

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Michelle Singletary
Age: 54
Columnist
Financial Planner
Journalist
Writer
Point
Covered
Dependents
Helping
Mostly
Replacement
Kids
Dependent
Replacements
Remember
Income
Spouse
Things
Aren
Insurance
Would
Pay
Carrying
Life
Amount
Intended
Help
Reduce

More quotes by Michelle Singletary

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No matter who is in the White House, I just keep doing what my grandmother taught me. Hate debt. Save. The best any of us can do really.
Michelle Singletary
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You made a decision given your life circumstances and you have to be ok with that. Regrets that can't be change is just torturing yourself.
Michelle Singletary
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Save what you can toward the emergency and life happens fund. But don't worry yourself sick at the slow growth. The point is it's growing even it's just one dollar at at time.
Michelle Singletary
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If you'll have enough saved and nobody has to take on debt and you want to retire, shoot go for it.
Michelle Singletary
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If we aren't careful, our children will come down with 'affluenza,' a disease that causes them to confuse wants and needs. We need to teach our children what my grandmother taught me: Think twice about spending money you don't have on things you don't need to impress people you don't like anyway.
Michelle Singletary
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The key to making sure your credit stays good is paying the bill on time. If you are paying the balance off even if there is something on the card in recent purchases, you are good.
Michelle Singletary
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Set up rules for when you will give not lend money. Never lend. My people know that I'll help with college. I'll help if they lose they job thu no fault of their own.
Michelle Singletary
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The schools can't cover all the values that go along with how you handle your money. For example, a financial literacy class might not teach me to hate debt the way my grandmother, Big Mama did.
Michelle Singletary
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If you haven't saved, your child may have to work. But do what you can to NEVER take out student or parent loans.
Michelle Singletary
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We have to protect ourselves by doing our own homework.
Michelle Singletary
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My writing is definitely influenced by and speaks to African-Americans because that is who I am. I'm black. I'm a black woman. I'm a black mother, wife, churchgoer, etc. I am the legacy of slavery.
Michelle Singletary
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That's is life. You move and change according to things that happen to you and things that you make happen because of poor choices.
Michelle Singletary
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I've found that when you can quickly knock out debt you get motivated because you see progress. Then you attack the other debt so fast that even if it's at a higher interest rate, you don't end up paying much more because you've gotten rid of it.
Michelle Singletary
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I'm keenly aware of how important it is to set a good example. You may not think that your kids are paying attention to you, especially with something like money, but they probably are.
Michelle Singletary
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Having a separate fund for the things in life that happen, helps keep the emergency fund in tact in case you lose your job or income.
Michelle Singletary
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A foreclosure does not define you financially.
Michelle Singletary
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Not all Trump supporters are bigots. They believe he had something to offer. I may disagree. You may disagree but we need to be civil to each other. Use the facts to make your point. I had read that the clothes made by some of the brands use sweatshops. Facts folks not feelings. We all have to live with each other and our choices.
Michelle Singletary
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The rich are depressed because they realize their money can't buy them out of their issues.
Michelle Singletary
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We know intellectually that money can't buy happiness yet we spend and go into debt as if it does.
Michelle Singletary
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There's nothing wrong with having a 9-to-5 job, but figure out a way to have another stream of income.
Michelle Singletary