I’ve saved $1M in my 401(k) and hope to retire in 5 years. Will my wife be financially protected if I cancel my life insurance?

Currently, Bob is paying about $150 a month on his life insurance policy. However, if his wife inherits his 401 (k), he ...
Entrepreneur

Deciphering 401k and Indexed Universal Life Insurance

The financial world is a vast landscape teeming with a multitude of investment options. Each one comes with unique advantages and disadvantages, making navigating challenging. Two such options often ...
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Life Insurance vs 401(k): Here’s What You Might Want to Know

Life insurance and 401(k) retirement plans are two financial tools that serve distinct purposes in wealth management. Life insurance is a tool designed to provide a financial safety net for ...
Yahoo Finance

With $1M in my 401(k) and 5 years to retirement, I’m unsure if canceling life insurance leaves my wife protected

If you’ve reached your retirement savings goals, should you still keep your life insurance policy? Take the hypothetical case of Bob. He now has $1 million in his 401(k) and, at age 57, still has five ...