5 Questions: Life insurance, Budgeting, and Buying a Home

Updated on March 27, 2020 Updated on March 27, 2020
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Five Questions: Life Insurance, Budgeting, Buying a Home, and More
Table of Contents  
  1. Show Notes


It’s time for five listener questions.  Today we talk about life insurance, budgeting, and buying a home.

1.  What do you guys know about life insurance?  Not everyone needs it but if you have someone who depends on your financially, then you should have it. Term is the best option.  If you can get it through your employer, take it.  We did a deep dive on this subject in Episode 140.

2.  When accounting for expenses like travel, do you mark it when you decide to spend the money or once it’s actually spent? Mark it when you spend the money, so it you buy the plane ticket now but the trip is in January, it counts for November’s budget.

3.  You should buy when stocks are low.  Are you still feeding money into Betterment while the market is down?  Yes, absolutely.  Buy fear, things are never as bad as they seem.  As a new investor, stay the course.  I know it’s hard to not keep checking the numbers but just let it ride.

You want to look like the bad ass walking into the wall of flames.

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4.  What’s the smartest thing to do with a windfall?  Because that money will push you into a higher tax bracket, start a solo 401k or a Roth IRA.  We’ll look the other way if you still decide to spend a small portion on video games and flesh lights.

5.  We are a couple in our mid twenties.  Is there an ideal time to buy a home? If you’re going to buy a home, it should be bigger, better, and cheaper than the place you’re renting.  But you’re young, go travel a little before you think about buying a home.  Don’t rush buying a home.  Ask Matt what happens when you rush it.

We have been getting a lot of good feed back on the five questions episodes.  Keep sending in questions and we’ll keep answering them.

Show Notes

Introverts Should Lay Off the Coffee:  I would never but here’s the article.

Betterment:  Now is a great time to jump in.

Featured Image Photo Credit: “Question Box” by Raymond Bryson on Flickr

Candice Elliott - Senior Editor
Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.

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