Insurance
While I don’t cover insurance a lot on this blog, I do think it’s one of the more important factors in securing your financial scene. It’s my belief that most of us (myself included) are walking around without enough insurance.
Insurance isn’t expensive either if you focus on getting the right kind and level of coverage. You can typically self-insure a lot of your risk by keep a big cash cushion. For starters, you need an emergency fund of several months worth of expenses. This insures you against a lot of smaller, more short-term risks. Additionally, I recommend things like a health savings account and staying in good health (duh!).
Most people typically need the following types of insurance: health insurance (I’m self-employed and so I talk a lot about my individual HSA plan), life insurance (I like a simple term life policy for people when they have a child), auto and home insurance, and some amount of long-term disability insurance.
