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Technology Stocks : All About Sun Microsystems
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To: Sonki who wrote (23411)11/26/1999 2:33:00 PM
From: Brian Malloy  Read Replies (1) of 64865
 
Be careful with the insurance.

You only need it to cover items that pose a potential hardship to ones family should you pass away ahead of time. When you have the time, go to the library and do a search on FORBES magazine. They did an article within the last two years that talks in detail about the Insurance issue. An insurance salesman will fit a round peg into a square hole if he can make a commission.

Remember Sun Tzu: Know yourself and know your enemy and in a thousand battles you will be successful. A corollary is know the terrain upon which you will fight. So get the FORBES article. Find a good Estate Tax Planning Lawyer. Try to buy your term policy before the end of this year as due to XXX rates in most states will go up next year.

Quick example:
Someone 28 years old with a six figure salary, seven digit mortgage, three children under the age of seven and better have life insurance. They need a good estate plan.

Someone 48 years old, two kids finished college, house paid for and plenty of money in the bank, fat 401K and IRA accounts has very little need for life insurance. They do need a good estate plan to minimize taxes.

Buy term and put the differnce between term and whole into your favorite investment.

IMHO
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