This week, we meet Stella.
Stella’s main concerns, in her own words: “I got a late start financially because I got a PhD, but I’ve educated myself a lot and am passionate about being in control of my finances. I’d love more insight in how to improve.
When I was 32 and combined my finances with my husband we had a net worth of negative $100,000. At 34 we became debt free then had our first kid. At 35 we bought a house (650K) and currently have a $400,000 positive net worth. We make a great income now and are trying to figure out how to catch up on retirement, balance paying off our house while investing and saving for our son’s college, and keep our lifestyle contained in the new (much more expensive) house.
We set up a family trust to help with probate and such if/when we die. Are there other things I could be doing in that realm? A large concern of mine is life insurance. I’m virtually uninsurable because of medical conditions and family medical history. I’ve been declined twice and at best I’d pay $100/month for a $1,000,000 term policy. I have a $300,000 policy through work but want to make sure I’m self insuring as best I can given the challenge I’ve found getting term insurance.”
Nicole is the Digital Marketing Assistant at Pete the Planner®. She produces the radio show, podcast, and TV show. Additionally, she runs all email campaigns, webinars, and client programming. Nicole can be found drinking a Kombucha wherever there is an outdoor music festival.