Robert Brokamp

How does that work?

Are these volunteers?

Are they Medicare employees?

So ship is a good source of information, but not necessarily...

Expert advice, for real expert advice, you probably do want to turn to someone like HoverRide or some other agent who's very familiar with the policies.

Well, this has all been very good advice, Richard.

Thank you for joining us.

Time to get it done, fools.

And this week, I encourage you to give some thought to whether you have enough life insurance.

It's a pretty complicated topic, but a recent Wall Street Journal article by Kimberly Lankford offered some guidance.

First off, you generally only need it if someone is relying on your income.

If that is the case, one rule of thumb is to buy an amount that is equal to 10 times your income.

And that one's been around for a while, and I would amend it to be 10 times your income plus $150,000 to $200,000 for each kid you want to put through college.

Another rule of thumb is 15 times your income.

This one comes from financial planner Tim Maurer, and it's based on the fact that if you invest that amount and earn 5% a year, the earnings would be close to your annual income, which may be enough since household expenses will likely drop after you pass away.

The journal article also points out that there are many online calculators that you can use to help come up with a more customized life insurance amount.

So do a search for a few, crunch the numbers, and get additional coverage if your family would be financially devastated if you passed away.

And that's it for this week.

Thanks so much for listening.

And thanks to Bart Shannon, the engineer for this episode.