In the last KLE, you examined all of your assets and thought about how you might insure them – without under/over insuring them, as either mistake can be very costly!
In this KLE we’ll look at the two most important types of insurance:
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Task 1: How much will you save in 20 years, starting with $3,000 a year and growing that by 5% each year (just to keep your nose a little in front of inflation); to help offset the shorter time-frame (i.e. 20 years, instead of 50), let’s assume that you can earn 11% per year on your money.