Is This Enough Life Insurance?

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The idea with life insurance is that it replaces your portfolio at financial independence. So if you need five million dollars so that you and your husband never have to work again, then the total of your portfolio plus your life insurance should be five million dollars. That's the point of term life insurance. And as your portfolio grows closer and closer towards that number, you can decrease the amount of insurance you have until you become financially independent. But basically, that's how you cover this particular risk.

There are potential big changes coming up as a new tax bill is working its way through Congress. While there are sure to be many changes to the proposed bill before it becomes law we wanted to dive into how this bill will affect the WCI community. One of the biggest impacts is that backdoor Roth IRA and mega backdoor Roth IRA accounts could be gone for good. There are proposed changes to income tax brackets and required minimum deduction rules. We look into these changes and many others that could be coming our way.

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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!

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