What can $100,000 buy?
Today's question is-- What does $100,000 buy?
Yes, I bet you can list a lot of desirable items from cars to trips to home improvements. But if I ask you in terms of the goal of financial security for your family what does $100,000 buy, maybe the question is not so easy to answer.
$100,000 may seem like a good sum of money when you are paying your monthly bills. And the bills are each for under $2,000. But how many months of bills would that hundred thousand cover for your family if you had died last week? Have you recently added up all of what you spend to maintain your life style? What is the absolute minimum the family needs? What is the amount you are currently living on? What would be the right target?
Suppose you had $100,000 of life insurance or of assets in the stock or bond market how long would that money keep your family's bills paid?