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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
Helping
Mostly
Replacement
Kids
Dependent
Replacements
Remember
Income
Spouse
Things
Aren
Insurance
Would
Pay
Carrying
Life
Amount
Intended
Help
Reduce
Point
Covered
Dependents

More quotes by Michelle Singletary

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My husband and I are pretty good at leaving money alone until we need it for what we've saved it for.
Michelle Singletary
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Money may not be able to buy you love, but conflicts about it can certainly bankrupt your relationship.
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.
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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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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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We have to protect ourselves by doing our own homework.
Michelle Singletary
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I write for people who are good money managers and want to know how to be even better stewards over their money.
Michelle Singletary
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Once you finish paying for college you could reduce your life insurance.
Michelle Singletary
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Don't let people scare you from a career that may not net you a six figure salary. If you want to be a teacher, teach. But knowing that your salary may only reach a certain level, do all that you can to become the best money manager you can be.
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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We all fall - even me.
Michelle Singletary
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You still need to save but being debt-free in retirement is and should be a goal.
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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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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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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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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There are other ways to motivate students than requiring them to take on debt or work long hours taking away from their studies. For example, we don't allow our kids to work during the school hours their freshman year. After that, they can work a little but not so much that it hurts their education.
Michelle Singletary
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You are rich if you have enough to meet your most basic needs. You are rich if you have access to clean water, food, shelter, love, a roof over your head.You have to count your blessings to see that you are richer than you think.
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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I use my financial values to set my limitations. I have three children I want to put through college debt free. So that means I can't spend wildly or with disregard.
Michelle Singletary