I'm a 50 yo, self employed optometrist, and I've been working part-time for the past 3-4 years.
I plan on cutting back even further over the next year.
Early in my career, I took out an own occupation disability policy through Guardian. During
my peak earning years, I took advantage of a future increase rider. Now that I'm working half
time, the benefit would replace over 100% of my current earnings.
DW and I have no debt, live below our means, and could easily live off of her earnings alone.
About the only major expense we have is a frosh in college. I'm currently paying for that out of
my earnings, but we have enough investable assets to pay for his remaining years outright.
In seems to me that I no longer need disability insurance, but I just want to be certain I'm not
missing something before pulling the trigger.
I'm also planning on not renewing my term life policy.
Any thoughts or comments would be appreciated.
I plan on cutting back even further over the next year.
Early in my career, I took out an own occupation disability policy through Guardian. During
my peak earning years, I took advantage of a future increase rider. Now that I'm working half
time, the benefit would replace over 100% of my current earnings.
DW and I have no debt, live below our means, and could easily live off of her earnings alone.
About the only major expense we have is a frosh in college. I'm currently paying for that out of
my earnings, but we have enough investable assets to pay for his remaining years outright.
In seems to me that I no longer need disability insurance, but I just want to be certain I'm not
missing something before pulling the trigger.
I'm also planning on not renewing my term life policy.
Any thoughts or comments would be appreciated.
Statistics: Posted by fundus — Wed Jan 01, 2025 12:15 pm — Replies 6 — Views 209