KLE 50: The Most Important Kind Of Insurance!

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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.

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Name and State (eg John, FL)
What will you have saved after 20 years, if you contribute $3,000 in the first year (increasing by 5% in each subsequent year) , if you can achieve a steady 11% investment return?

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