Money Meets Medicine Is Your Emergency Fund Too Big (Updated)?
Oct 16, 2025
Ever wondered if your emergency fund is too hefty? Explore the fascinating debate on the optimal size for high earners, reflecting personal money stories and emotional ties to security. Delve into the tricky decision of when to drop life and disability insurance, and learn the pros and cons of each. The hosts also tackle whether to lease or buy your next car, considering financing options amidst lifestyle changes. Join in for valuable insights that blend emotional intelligence with solid financial strategies.
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Define Financial Independence First
- Confirm what 'financial independence' actually means before canceling life or disability insurance.
- Keep coverage until your assets clearly replace income and beneficiaries can access funds easily.
Term Life As Cheap Leverage
- Term life can act like a cheap leveraged bet that expands your ability to provide a legacy.
- Paying modest premiums for large death benefits often makes sense even late in a career for optionality.
Weigh Disability Premiums Against Peace
- Evaluate disability insurance cost versus benefit before cancelling and ask what you'll do with the saved premiums.
- Keep coverage if premiums buy meaningful peace of mind or leverage you wouldn't otherwise have.
